Unacademy has decided to increase its ESOP pool by 20%. The edtech unicorn is backed by major investors and is well funded.
Softbank, Sequoia Capital and Temasek holdings (the Singaporean state holding company) are amongst the investors which have invested over $800M since its launch in 2015.
According to the company’s regulatory filings with the Ministry of Corporate Affairs (MCA), the ESOP pool size grows to 286 million options.
While Unacademy has laid off over 750 employees, it intends to give benefits to all eligible employees to keep them interested in working in the company.
Employee Stock Option Plans are very popular in India. As the global startup funding market faces uncertainties, giving employees stock options is gaining traction.