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Classplus introduces stock appreciation rights for its customers

Entrackr · 7m

B2B edtech company Classplus has announced stock appreciation rights (SARs) for its customers,vendors and partners. Dubbed as ‘Gratitude SARs’, the initiative aims to reward and show appreciation to content creators and educators who have helped shape Classplus, the company said in a press release. Stock Appreciation Rights (SARs) are a form of incentive that gives recipients the benefit of the growth of a company without needing to buy any shares. Traditionally, employee stock ownership plans (ESOPs) or stock options linked to a company’s valuation are reserved for permanent employees only. With this plan, Classplus customers will be able to take part in the company’s growth, having a deeper partnership between the company and its user base. Classplus had also announced an ESOP buyback for over 150 employees across roles and business verticals in February this year. This was the second buyback announcement by the company in 6 years since inception. Founded by Mukul Rustagi and Bhaswat Agarwal, six-year-old Classplus is a mobile-first SaaS platform that helps creators turn their skills into profitable online businesses through content monetisation. Since inception, it has raised around $150 million from investors like Tiger Global, AWI, RTP Global, Blume Ventures, Peak XV’s Surge, among others.