Gaurav Munjal News

₹50 crore employee stock ownership plan (Esop) buyback, offering liquidity to employees at a time when the company’s valuation has fallen significantly below its 2021 peak.“Grateful to the Board for carving out a cash pool for the employees even though the valuation is significantly less than our last fundraise,” co-founder and chief executive Gaurav Munjal said in a post on X on Thursday.The buyback signals an attempt by the company to reward and retain talent after two years of turmoil owing to the founders’ plans to exit the firm.According to Munjal, eight employees will receive over ₹1 crore each under the programme, 17 will receive more than ₹50 lakh, and 38 more than ₹10 lakh.The company will reach out to employees over the coming weeks to facilitate participation, he added.Unacademy had earlier revised its Esop policy to require former employees to exercise vested stock options within 30 days of departure drawing criticism. The company subsequently reinstated its earlier policy, allowing former employees to exercise options for up to 10 years.The Temasek-backed firm has faced a difficult internal environment over the past two years.

Subscribe to enjoy similar stories. Temasek-backed Unacademy is planning to shut down its centre business and convert it into a franchise model, founder Gaurav Munjal told employees. “Over the coming months, we will exit our company-operated centre business by converting them into franchise partnerships," Munjal said in an email to employees on 14 January.

Infinyte.Club, a wealth creation and management platform for tech and startup employees, has raised $3.6 million in a funding round led by Elevation Capital. The round also saw participation from angel investors such as Cred founder Kunal Shah, Meesho cofounder Vidit Aatrey, Unacademy cofounder Gaurav Munjal, Razorpay cofounder Harshil Mathur and others. The funds will be used to enhance the technology and grow the team.

Also Read | 'Come to Bengaluru, increase odds of success': Unacademy’s Gaurav Munjal asks start-up founders to ditch Mumbai, DelhiMunjal's praise for Bengaluru resonated with many social media users. One user commented, "Not even starting a company, if you want non-linear outcomes in your career, BLR is the place with the highest probability!" Another user highlighted the city's advantages: "Its robust infrastructure, talent pool, and cosmopolitan culture foster innovation.

Unacademy has changed the goals for its two cofounders, Gaurav Munjal and Hemesh Singh, to access additional voting rights through bonus shares issued to them in 2022. According to Unacademy’s filings with the Registrar of Companies (RoC), Munjal and Singh will get access to additional voting rights if the company forms a committee by March 2025 to work on its initial public offering.

Mint. They didn’t want to be identified. Gaurav Munjal, co-founder and chief executive officer (CEO) of Unacademy, doesn’t agree with this assessment.

Edtech unicorn, Unacademy has elevated Sumit Jain, who leads the company's Graphy division to partner or cofounder status, group chief executive Gaurav Munjal announced on Tuesday. According to Munjal, “partner at Unacademy is like a cofounder who joined at a later stage”. “I have some news to share.

Mumbai: When Vikas Singh bought the first-ever non fungible token (NFT) minted by edtech unicorn founder Gaurav Munjal, he was buying it for its future value. An image of a page from Munjal’s personal diary with Unacademy's vision cost him about Rs 60,000.“Today Unacademy is valued at almost $4 billion.