Adda247, a multilingual learning platform, has announced its first Employee Stock Ownership Plan (ESOP) buyback, covering more than 130 employees. This initiative aligns with the company’s strategy as it prepares for an IPO in 2026. The buyback price is averaging 40 times the initial purchase price.
“This ESOP buyback represents a pivotal moment in Adda247’s evolution,“ said Anil Nagar, Founder and CEO, of Adda247.
He added, “It’s a testament to our commitment to empowering our employees and fostering a culture of shared success. Our employees are the strength of Adda247, and this initiative demonstrates our appreciation for their dedication and hard work and the wealth they can create.“
The learning platform backed by Google, Westbridge, Info Edge, and Asha Impact had previously acquired Ekagrata Eduserv Pvt. Ltd., a leading player in the Chartered Accountancy (CA) test preparation, marking its entry into the ₹800 crore CA test prep market.
Additionally, the company has expanded into the Skilling, Up-Skilling, and Higher Education Sectors to empower youth and make them job-ready by providing them with employment-based skilling and learning opportunities that lead to employment.
Last week, Swiggy, a food delivery and quick commerce company announced an ESOP liquidity programme worth $65 million. Urban Company, Meesho, The Sleep Company, and Pocket FM have also conducted ESOP buybacks for their employees. Adda247 recorded a revenue of ₹243.39 crore in FY24, up from ₹129.65 crore in the previous fiscal year. Reportedly, the company reduced its net loss by 66 percent to ₹101 crore, down from ₹296 crore in FY23.