Classplus, India’s leading B2B edtech startup that helps educators and content creators launch and scale their online coaching businesses, has announced its second Employee Stock Ownership Plan (ESOP) buyback in three years. Over 150 employees, across roles and business verticals, are eligible to liquidate their vested shares by selling them back to the company. Founded in 2018, this is the second buyback announcement by the company in just 6 years since inception.
The buyback announcement follows a period of consistent growth for Classplus. This ESOP buyback marks a significant milestone for Classplus, particularly emphasizing the company’s focus on offering wealth creation opportunities to its employees. Industry wide, this is the first reported buyback announcement of the year from an edtech startup. This initiative by Classplus demystifies the often elusive concept of ESOPs and buybacks, and reinstates the belief in wealth creation opportunities startups can offer.
“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”, commented Mukul Rustagi, Co-Founder & CEO, Classplus.
He further added, “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.”
Founded by Mukul Rustagi and Bhaswat Agarwal in 2018, Classplus is a mobile-first SaaS platform that helps creators turn their skills into profitable online businesses through content monetization.
About Classplus:
Classplus is India’s leading B2B edtech startup that helps educators and content creators launch and scale their online coaching businesses. Classplus has digitized creators across 3,000+ cities serving 50M+ students. Classplus creators have conducted 1.5 million live classes in the last 12 months, and have multiplied their earnings 5-6X by reaching out to students beyond their local geographies. On Classplus, they can launch their recorded courses, live webinars, 1-on-1 consultations, books and their own merchandise. Since inception, Classplus has raised approximately $150+ million from global marquee investors like Tiger Global, AWI, RTP Global, Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, Strive, Times Internet and Abu Dhabi-based Chimera Ventures.
