Unacademy Initiates Rs 50 Crore ESOP Buyback Amid Operational Restructuring

Unacademy has launched a Rs 50 crore ESOP buyback to provide liquidity to current and former employees amid a significant drop in its valuation since 2021. The buyback aims to reward and retain talent following internal challenges and the founders' exit plans. Eight employees will receive over Rs 1 crore each, with others receiving smaller amounts. The company is also shifting its offline coaching model to a franchise approach after failed acquisition talks with upGrad.