Government job preparation startup Adda247 announced that it has granted stock options worth INR 150 crore to its employees through its Employee Stock Ownership Plan (ESOP).
The annual vesting period for the ESOP pool is four years. According to Adda247, it first implemented an ESOP policy in 2016 and has since liquidated stock options for approximately 10% of its workforce. This year, it also increased the size of the ESOP pool in order to include more employees in the plan. The news comes just a few months after Adda247 received $35 million in a funding round led by WestBridge Capital.
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Government job preparation startup Adda247 announced that it has granted stock options worth INR 150 crore to its employees through its Employee Stock Ownership Plan (ESOP).
The annual vesting period for the ESOP pool is four years. According to Adda247, it first implemented an ESOP policy in 2016 and has since liquidated stock options for approximately 10% of its workforce. This year, it also increased the size of the ESOP pool in order to include more employees in the plan. The news comes just a few months after Adda247 received $35 million in a funding round led by WestBridge Capital.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
