In the wake of declaring undisclosed round from Tiger Global and Dragoneer Investment Group at a valuation of $2 billion, edtech unicorn Unacademy has apportioned ESOPs worth around Rs 20 crore to its previous VP Dinesh Godara.
Godara assumed a significant part in scaling up Unacademy. He was VP of the organization between November 2018 to June 2020 and drove a few items including Unacademy JEE, NEET, GATE, UPSC and Wifistudy.
Unacademy has passed an uncommon goal to favor the apportioning of 1200 value offers to Godara under its ESOP conspire 2018, shows administrative filings. The advancement comes soon a month after the firm reported an ESOP buyback plan worth Rs 25-30 crore.
Godara left the firm to begin his own endeavor TREAD. A month ago, the computerized wellness startup had brought $1.1 million up in a seed round from a grasp of business visionaries, heavenly attendants and pre-seed reserves including Better Capital, Roman Saini and Hemesh, Udaan originator Sujeet Kumar, CRED author Kunal Shah.
It’s significant that Unacademy’s originator and CEO Gaurav Munjal has likewise moved TREAD in its lady round.
During SoftBank-drove $150 million round in September, Unacademy’s ESOP pool was esteemed at around Rs 930 crore or $127 million. Unacademy’s ESOP pool comprises of 64,957 alternatives in which every choice is equal to one value share and the entire ESOP pool of the organization is esteemed at around $127 million.
Unacademy will join any semblance of Swiggy, FirstCry, Pine Labs, Paytm, Oyo that have extended their ESOPs pool in 2020. This year has demonstrated an uncommon year for Unacademy in a few terms. It obtained five new companies — Coursavy, PrepLadder, Mastree, CodeChef and Kreatryx — and dispatched another item Graphy with a different establishing group.
In the previous three months, Byju’s and Oyo had extended their ESOPs pool by adding Rs 1500 crore and Rs 1050 crore worth ESOPs individually. Zetwerk, Shuttl, Wmall additionally added more alternatives to their current pool.