upGrad ESOP holders get INR 220 Crore ($29.5 Mn) Liquidity
37 upGrad early team members are a part of this Liquidity Event
Mumbai, July 13th, 2021: Asia’s higher edtech major upGrad announces its maiden ESOP liquidity event worth INR 220 Crore (USD 29.5 Mn). The recent fundraise from Temasek & IFC has triggered a small secondary for the early and long-term team members at the company. Founder Group owns over 70% of the company and has created a large ESOP pool of close to 13% of the enlarged equity base.
“Definition of ‘Best places to work' for is changing dramatically around the world, and the new benchmark will have companies where you have the maximum learning and growth opportunities. ESOP is still a less understood & appreciated currency that allows team members to take a much longer-term view on their current place of work. Moving jobs for promotions or increments will be less prevalent in the future as the smartest will look for long-term growth in the company, the founders, and the team that can match their ambitions” said Ronnie Screwvala, Chairman and Co-Founder, upGrad. upGrad’s inclusive ESOP scheme has over 600 of its team members riding the growth story of the company.
upGrad is Asia’s higher edtech major that offers 100+ courses in collaboration with top-notch global universities like Duke Corporate Education (US), Michigan State University (US), Liverpool John Moores University (UK), Deakin Business School (Australia), Swiss School of Business Management, (Geneva), IIT Madras (India), IIM Kozhikode (India), and others. Founded in 2015, the international edtech leader has impacted over 1 million total registered learners in over 50+ countries across the world.
upGrad has ranked No.1 in the LinkedIn Top Startups India 2020 list. This is the third time in a row that upGrad has been featured in the LinkedIn Top Startup list after 2018 and 2019. It is also amongst GSV Global EdTech 50 and has ranked amongst the Top 50 in the FT Asia-Pacific High-Growth Companies 2021.