Vedantu, a pioneer in LIVE online learning, announced today a $3 million ESOPS liquidity initiative for all qualifying employees. The founders will not be part of the repurchase, but top executives and qualifying active employees who have completed the vesting term will be able to sell their ESOP shares.
Vedantu launched a $100 million Series E investment in September, anchored by Singapore-based impact investing firm ABC World Asia. Existing investors, such as Coatue, Tiger Global, GGV Capital, and Westbridge, were also active in the round. Vedantu’s valuation has risen to $1 billion as a result of this round of fundraising, confirming its position as India’s top K-12 LIVE online teaching company.
Vamsi Krishna, CEO & CO-Founder, Vedantu says, “We have seen enormous growth over the last few years, and we take immense pride in the impact we are creating in the lives of our students. As Vedantu grows, we want our employees to grow with us as well as they are equal contributors towards this growth. By growing the technology, engineering and product teams across all functions, ESOPs provide employees with high ownership, while providing more opportunities for financial growth. We want to enable long-term wealth creation for our employees and recognise their contribution and commitment. This is the first ESOP program to facilitate value creation for Vedans and we will continue to take more such initiatives in the future.”