Unacademy rolls out ₹50cr ESOP buyback amid valuation drop
Unacademy is rolling out a ₹50 crore ESOP buyback to help employees cash in on their stock options, even though the company's current valuation is much lower than before.
Co-founder Gaurav Munjal shared the news on X, aiming to support staff during a tricky market phase.
Munjal addressed earlier criticism about the ESOP exercise window
Eight employees will get over ₹1 crore each, 17 will receive more than ₹50 lakh, and 38 others are set to pocket over ₹10 lakh.
Munjal said eligible team members will hear from Unacademy soon.
This move follows criticism about a short exercise window for former staff—Unacademy introduced a one-time 30-day window for former employees to exercise vested stock options.
Unacademy's peak valuation and failed acquisition talks with upGrad
The source does not specify past fundraising rounds or a peak valuation, nor does it mention any prior ESOP buyback dates.
More recently, acquisition talks with upGrad fell through due to disagreements over valuation.