After appreciating employees on twitter, Unacademy adds more options to its ESOPs

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In one of our previous reports, we mentioned about the growth of Unacademy in last two months due to the lockdown. April 2020 witnessed the highest number of views for the company since its beginning. Gaurav Munjal, CEO and co-founder Unacademy took this opportunity to appreciate the efforts of his team on Twitter.

In times when majority of employees are facing job cuts and salary cuts, Unacademy has been offering incentives to its employees in terms of ESOPs. Employee Stock Ownership plan (ESOPs) is an employee benefit plan that gives them the ownership in the company. The company has added 12,018 options to its existing ESOPs pool. They passed an amendment recently to increase the ESOP pool from 41,026 options to 53,044 options.

According to sources, the current ESOP value of the company stands at $42 million. This is the second time in 6 months for the company to increase its ESOP pool. In January, they added 4,386 new shares to the then existing scheme and implemented a “phantom stock” agreement with its co-founders. The startup has bought 30% of the vested stocks of its employees during July last year.

The company is well funded as of now and post Round E funding it stands at $510 million valuation. Unacademy has seen a massive jump of 82% in the revenue generation during the lockdown period itself. The watch time of the startup’s videos has crossed 1.4 billion minutes mark which is an incredible growth.

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