Byju’s revises employee stock option plan after four years
Education technology platform Byju’s has increased its employee stock option plan (ESOP) 2019 to 138,648 shares from ESOP 2015 of 39,390 shares, as per regulatory filings accessed by TechCircle.
With 99,258 additional shares, the total ESOP size of the Bengaluru-based company stands at Rs 700 crore (around $99 million) with shares priced at Rs 50,736 each as per a valuation report.
However, the recent funding round indicates the share price of the company at Rs 114,900 each. By that valuation, the ESOP size stands at Rs 1,593 crore (around $224 million). In July, the company had raised $150 million from Qatar’s sovereign wealth fund Qatar Investment Authority and other investors, taking its valuation to $5.7 billion.
In March, Byju’s raised $31 million from General Atlantic and Chinese technology conglomerate Tencent Holdings.
Founded in 2011, Byju’s provides learning app for school students and competitive exam aspirants. The content for several learning programmes is produced in-house.
The edtech’s investors include The Chan-Zuckerberg Initiative owned by Mark Zuckerberg and wife Pricilla Chan, Belgium-based Verlinvest, Sequoia Capital India, Lightspeed Venture Partners and Naspers India.