Edtech unicorn BYJU’s amends employees stock option plan

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BYJU’s, a edtech platform and unicorn startup, has overhaul its existing employees stock option plan 2015 to employees stock option plan 2019, reported Inc42.

According to sources, in a resolution on August 30, BYJU’S approved replacing its existing ESOP 2015 with ESOP 2019. The company also decided to expand its ESOPs pool to 1,38,648 options from 39,390 options.

With this resolution, the company BYJU’s has proposed to add 99,259 shares to ESOP 2019.

Founded in 2008 by Divya Gokulnath and Byju Raveendran, BYJU’S offers a learning app. The app was launched in 2015 and has learning programmes for students in classes IV-XII along with courses to help students prepare for competitive exams like JEE, NEET, CAT, IAS, GRE, and GMAT.

Also read: BYJU’s becomes official India Cricket Team sponsor

In April 2019, BYJU’S claimed to have crossed INR 200 Cr ($28.61 Mn) in monthly revenue. Going forward, it is estimating revenue of over INR 3,000 crore ($429.3 Mn) this year.

Beside BYJU’s, other emerging edtech platforms UnacademySimplilearnTopprMeritnation, and Vedantu, among many others.

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