Classplus, an Indian B2B edtech startup, declared its second Employee Stock Ownership Plan (ESOP) buyback on Wednesday. This is their second time offering this opportunity in the last three years.
The buyback enables more than 150 employees, spanning various roles and business sectors, to sell their vested shares back to the company. This move was announced through an official statement.
Mukul Rustagi, Co-Founder and CEO of Classplus said, “This ESOP buyback is a big moment for all of us. We started Classplus with the goal of creating value for everyone involved with us, right from our customers, to our team, and investors. It is truly gratifying to see that vision come to fruition.”
“It’s also a chance for our younger team members to start building wealth early, something we’re really proud to offer. The youngest participant in the buyback is just 23, and the average age of the 150+ eligible people is 28. ESOP buybacks can seem infrequent in our industry, but we’re happy to show that they’re very much a part of Classplus’ plan,” Rustagi added.
Mukul Rustagi and Bhaswat Agarwal established Classplus in 2018. This mobile-first SaaS platform assists creators in transforming their skills into lucrative online ventures by facilitating content monetization, as the official statement outlines.
Classplus, India’s premier B2B edtech startup, empowers educators and content creators to establish and expand their online coaching enterprises. Operating in over 3,000 cities, they’ve reached 50 million students, conducting 1.5 million live classes in the past year. Classplus creators have multiplied their earnings 5-6 times by extending their reach beyond local boundaries.
On the Classplus platform, creators can launch recorded courses, conduct live webinars, offer 1-on-1 consultations, sell books, and even merchandise. Since its inception, Classplus has secured approximately $150+ million in funding from esteemed global investors such as Tiger Global, AWI, RTP Global, Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, Strive, Times Internet, and Abu Dhabi-based Chimera Ventures.
