Edtech unicorn upGrad expands ESOP pool size by 300K options
According to upGrad’s filings with the Registrar of Companies, a special resolution to increase its ESOP pool by 300,000 options was passed by the edtech business (RoC).
The edtech company, UpGrad’s new options are worth Rs 244 crore ($30 million), according to an Entrackr report, while the company’s employee stock value is roughly Rs 2,058 crore ($260 million).
UpGrad plans to generate $400 million to $500 million in yearly gross revenue in FY23. In the following three months, it also plans to increase the size of its personnel from 4,800 to 7,600.
The Mumbai based startup has doubled the size of its stock pool during the past nine months. The Upgrad’s ESOP pool had previously expanded by 13% to 2,525,810 options from 2,225,810 options.
It is worth noting that after BYJU’S and Unacademy, upGrad will have the third-largest ESOP pool in the edtech industry following this growth.
upGrad seems to be a fascinating startup with a motivating turn of events on E-Learning providers platform. My best wishes to the entire team. This will give them a huge accomplishment in the future.Shishir Gupta, Founder and CEO, StartupLanes
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