New Delhi, July 22, 2024: Adda247, India’s premier multilingual learning platform backed by Google, Westbridge, Info Edge, and Asha Impact has announced its inaugural Employee Stock Ownership Plan (ESOP) buyback, marking a significant milestone in its journey of empowering employees. With 130 employees across various roles and functions participating in the buyback, Adda247 has re-emphasised its commitment to fostering wealth creation opportunities for its workforce.

This historic ESOP buyback comes in light of the company’s plan to do IPO in 2027. The event presents an opportunity for Adda247’s dedicated team members to unlock the value of their contributions to the company’s success. The buyback price is averaging 40 times the initial purchase price, reflecting the company’s robust valuation and underscoring its rapid and successful growth.
Anil Nagar, Founder and CEO, Adda247, expressed his excitement about the buyback, stating, “This ESOP buyback represents a pivotal moment in Adda247’s evolution. It’s a testament to our unwavering 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.“
In addition to providing financial rewards, Adda247 remains committed to supporting its employees’ aspirations beyond the workplace. Nagar further added, “As we celebrate this milestone, we are inspired by the diverse goals of our employees. From fulfilling long-held dreams to clearing loans, and yes, even purchasing the latest iPhone 15 Pro Max, we are proud to support their endeavours!“
Looking ahead, Adda247 has reaffirmed its commitment to conducting more such events in the future, ensuring that its employees continue to thrive and grow alongside the company’s success. Recently, Adda247 acquired Ekagrata Eduserv Pvt. Ltd., a leading player in the Chartered Accountancy (CA) test preparation segment marking its entry into the INR 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.