Simplilearn has announced its first-ever ESOP buyback worth Rs 48.74 crore

Edtech platform Simplilearn has announced its first-ever ESOP buyback worth Rs 48.74 crore. The buyback was undertaken as part of the new investment by Blackstone earlier this year.

The company had offered active workers to liquidate up to 25% of their vested ESOPs as part of this buyback, out of which 65% of them with ESOPs liquidated their choices.

Established in 2009, Simplilearn is a digital upskilling platform which gives training in Cyber Security, Cloud Computing, Project Management, Digital Marketing, and Data Science, among others.

The programs are co-created with leading universities like MIT and Caltech and leading industry partners like IBM, Microsoft Azure, and Meta.

According to an ET report, Simplilearn was in talks to raise a new round at around $700 million valuation. Assuming that the deal goes through, Simplilearn will become one of the most valued startups in this fragment.

Last week, edtech unicorn Vedantu also announced its first ESOP buyback program worth Rs 20 crore.