Adda247 is an edtech startup offering an educational platform to over 40 million users per year and  maintains its position in first place among all education platforms across India. The startup reported  to have plans for its first ESOP buyback exercise which will benefit over 130 employees who signed up  for this function of the startup. The amount of stock buyback is still unknown. 

The firm was founded by Anil Nagar and Saurabh Bansal, this startup focuses on providing live online  classes, e-books, mock tests, and on-demand video course services to students across different  sectors. The platform claims to have more than 2 million registered users in its premium courses. The  application offers personalized mentors and counselors according to the requirements of students. The  interactive and real-time tutoring platform allows students to learn and clear doubts. The company  has expanded its servers to higher education sectors, skilling, and up-skilling its users. The startup  recently acquired another edtech platform, Ekagrata Eduserv that offers chartered accountancy test  preparation materials and classes. 

The Google-backed startup aims to go for its initial public offering in the next three years. This buyback  price is expected to be 40 times the initial purchase price. The startup data intelligence platform, The  Kredible mentioned Blume ventures as the total employee stock ownership plan buyback crossed 802  million USD in 2023. This year many startups announced their ESOP plans including the food delivery  startup Swiggy which launched its ESOP liquidity program worth $65 million. Some other startups  including MyGate, Meesho, Paytm, Urban Company, The Sleep Company, Pocket FM, and Classplus also completed their ESOP buyback exercise this year. 

The startup claims to be the largest test preparation platform with over 50 million users from tier I and  tier III cities in India. The platform offers the best solutions to its users by using customized tests and advanced technologies. The company has secured a total of $64.4 million in funding across its funding  rounds. Startup data platform, Tracxn mentioned that WestBridge Capital is the largest institution  investor of the firm. The Adda247 reported its annual revenue to be around Rs 130 crore as of March 31, 2023. The platform can be accessed via an online website and a mobile application. The startup is  backed by 10 institutional investors including Google, STL, Westbridge Capital, and more. 

Conclusion: 

Adda247 is an edtech platform that reported its first ESOP buyback scheme. The platform provides personalized learning and counseling experiences. The startup claims to offer the best solutions to its  users by leveraging the new-age technologies. The company announced its ESOP buyback exercise  which aims to benefit over 130 employees who signed up for this programme. The total amount of  stock buyback is still unknown. WestBridge Capital is the largest stakeholder of Adda24. The firm aims  to go public in the next three years. This year many startups announced their ESOP plans including  Meesho, Urban Company, The Sleep Company, Paytm, Pocket FM, and Classplus.