CLASSPLUS
![Nykaa makes Rs 7.17 crore Esop allotment ahead of Q4 results](https://img.etimg.com/thumb/msid-110308265,width-100,height-75,resizemode-4/tech/startups/nykaa-issues-4-05-lakh-esops-ahead-of-q4-earnings.jpg)
Nykaa makes Rs 7.17 crore Esop allotment ahead of Q4 results
Companies typically expand their Esop pool to attract and retain talent, align employee and shareholder interests, and enhance overall performance. Private startups also institute buybacks of Esops to help create wealth for employees.
![Pocket FM completes first ever Esop buyback worth $8.3 million](https://img.etimg.com/thumb/msid-108947696,width-100,height-75,resizemode-4/tech/startups/pocket-fm-completes-first-ever-esop-buyback-worth-8-3-million.jpg)
Pocket FM completes first ever Esop buyback worth $8.3 million
Pocket FM completes $8.3 million Esop buyback for 800 employees, with 25% Esops vested in the first year. Recently raised $103 million from Lightspeed Ventures and Stepstone Group, aiming for a $1.2 billion valuation with ADIA.
![Edtech startup Classplus named in cheating, forgery case by Abhinay Maths](https://img.etimg.com/thumb/msid-108470243,width-100,height-75,resizemode-4/tech/startups/edtech-startup-classplus-named-in-cheating-forgery-case-by-abhinay-maths.jpg)
Edtech startup Classplus named in cheating, forgery case by Abhinay Maths
A first information report – also accusing Tiger Global-backed Classplus of forgery and fraud – was lodged at Delhi’s Hauz Khas Police Station on March 9. ET has seen a copy of the FIR.
![Edtech startup Classplus unveils second Esop buyback, over 150 employees eligible](https://img.etimg.com/thumb/msid-107695338,width-100,height-75,resizemode-4/tech/startups/edtech-startup-classplus-unveils-second-esop-buyback-over-150-employees-eligible.jpg)
Edtech startup Classplus unveils second Esop buyback, over 150 employees eligible
This is Classplus’ second offer in three years to repurchase shares issued under its employee stock ownership plan (Esop). More than 150 employees across roles and business verticals are eligible to sell their vested shares to the company, the edtech startup said in a news release. The youngest participant in this buyback is a 23-year-old, while the average age of the eligible staffers is 28 years, cofounder and CEO Mukul Rustagi said.
![Post Byju’s, investors worried about governance at startups: GSV Ventures' Deborah Quazzo](https://img.etimg.com/thumb/msid-107669795,width-100,height-75,resizemode-4/tech/startups/post-byjus-investors-worried-about-governance-at-startups-gsv-ventures-md-deborah-quazzo.jpg)
Post Byju’s, investors worried about governance at startups: GSV Ventures' Deborah Quazzo
GSV Ventures has backed Indian edtech unicorns including Eruditus, Lead, PhysicsWallah as well as startups like Classplus. Deborah Quazzo also spoke about the lack of equilibrium between edtech founders and investors on valuations, which is delaying fundraises in the sector.
![Edtech startup Saarthi, investors drag acquirer Classplus to court](https://img.etimg.com/thumb/msid-102576138,width-100,height-75,resizemode-4/tech/startups/edtech-startup-saarthi-investors-drag-acquirer-classplus-to-court.jpg)
Edtech startup Saarthi, investors drag acquirer Classplus to court
Saarthi, which offers enterprise resource planning software and solutions for schools, in a statement said Classplus, had acquired Saarthi in late 2021. The deal went unannounced until now.
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Funding crunch healthy for startups as it’ll bring profitability to the fore: GSV’s Deborah Quazzo
Deborah Quazzo told ET during an exclusive interaction that the pace of investments has slowed down in both the US and India and is likely to remain muted for the rest of the year at least.
Amid layoffs, clutch of edtech firms roll out hikes and ESOPS
Edtech startups like Eruditus and Emeritus, Classplus, BrightCHAMPS, among others, are looking to reward employees through increments. Others like LEAD and upGrad are giving out generous stock options, while Vedantu, which has had four rounds of layoffs, will be giving out incentives with no upper limits/caps to employees achieving defined milestones and a performance-based year-end bonus.
Pay hike on the cards for edtech employees after an edgy 2022
Edtech startups like Eruditus and Emeritus, Classplus, BrightCHAMPS among others are looking to reward employees through increments.
2022 Year in Review | As the pandemic bubble bursts, edtechs back in class
Edtechs are expected to move away from the K-12 business model in the coming year. They are also expected to focus on priorities such as a bigger offline play, tapping international markets with higher disposable incomes, and digitising the existing school system.
Unacademy’s Gaurav Munjal says rival Classplus ‘definitely overvalued’
Classplus competes directly with Unacademy’s Graphy, a software platform for course creators.
Startup founders adopt more hands-on approach for better customer connect
Startup founders across Zepto, Mr. Milkman, Classplus, Blackbuck, Wakefit.co, and Fi are ramping up efforts to connect with customers through in-person interactions, phone conversations, and social media, in many cases anonymously.
India’s future unicorns worth $49 billion: Hurun Research Institute report
The report by the research house is a ranking of privately held Indian startups that were founded after the year 2000, worth at least $200 million and expected to turn unicorn in the next 2-4 years. Unicorns are privately held startups valued at $1 billion or more.
Sourav Ganguly joins hands with Noida-based edtech startup Classplus
Ending all speculations after sending a cryptic tweet, BCCI President Sourav Ganguly on Thursday joined hands with Noida-based edtech startup Classplus to promote thousands of educators and content creators.
Startups reach out to find jobs for the laid-off
Scaler, Filo, Classplus, PhysicsWallah, BrightChamps, Teachmint, ByteLearn and Mojocare were some of those companies offering help.
Classplus appoints Oyo's Ankit Sood as head of global growth
The announcement comes a week after the company raised $70 million in a Series D round led by Tiger Global and Alpha Wave Global.
ETtech Deals Digest: Games24x7, Pine Labs, Finova, IndMoney, others raise funds
Gaming platform Games24x7 has raised $75 million in a funding round that was led by Malabar Investment. Edtech startup Classplus, which helps educators and content creators launch online courses, has raised $70 million in its latest round of funding
Quick commerce delivers quick jobs; 2022 will see fewer but bigger deals
Insiders estimate that more than 400,000 delivery jobs will be up for grabs in the next 90 days, almost 50% more than this time last year.
Classplus bags $70M; Moveworks seeks 2nd HQ in India
Classplus, a four-year-old startup that helps teachers offer their services online, has raised $70 million from investors at a valuation of about $600 million.
Edtech startup Classplus raises $70 million in funding as valuation jumps to $600 million
According to the company, it will deploy the fresh funds to expand its presence globally, while investing in new acquisitions and partnerships.
Startups board express train chasing top talent in 2022
Net headcount at startups rose more than 11% in the first two months of this year compared with a year earlier, show data from staffing firm Xpheno. Headcount grew 21% at soonicorns and 10% at unicorns, show the data shared exclusively with ET.
New-age companies look beyond India for senior talent as they ramp up hiring
Edtech firm Classplus is looking for mid to senior leaders in blockchain, a technology that is still nascent in India.
Edtech startup Classplus appoints Zomato's Manish Chawla as CTO
Manish Chawla, who was Vice President of engineering with online food delivery company Zomato previously, will lead Classplus’ product innovations and will be focusing on scaling engineering capabilities for its growth.
Edtech startups like Byju's, Unacademy look to draw up a code of conduct
India's largest edtech startups, including Byju's, Unacademy, upGrad and Vedantu, have grouped together to adopt a self-regulatory code and will adhere to a "common code of conduct", they said in a letter to Union Ministry of Education.
LetsVenture cos give startups a hand
Early-stage investment platform LetsVenture has launched a unique initiative where founders from its portfolio companies have come together to support smaller ventures.
Classplus completes ESOP buyback worth $1 million
Classplus will use the proceeds of the ESOP buyback to pay referral bonus to employees—an industry first, according to the company. Over 30 employees participated in the buyback.
Teachmint raises $20 million in funding led by Learn Capital
The one-year-old startup, which empowers teachers to create their own classrooms through its app, claims to have more than one million teachers on its platform.
ETtech Deals Digest: Classplus, CommerceIQ raise funds this week
Indian startups bagged smaller rounds this week compared to the previous one
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