Classplus Unveils Innovative 'Gratitude SARs' Program

Classplus introduces "Gratitude SARs" (Stock Appreciation Rights) for customers, vendors, and partners, a first in the edtech industry. This move extends company growth benefits to its broader ecosystem, recognizing stakeholders' contributions to its success.

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Bijay Laxmi
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Classplus Unveils Innovative 'Gratitude SARs' Program

Classplus Unveils Innovative 'Gratitude SARs' Program

In an unprecedented move in the edtech industry, B2B company Classplus has announced the introduction of 'Gratitude SARs' (Stock Appreciation Rights) for its customers, vendors, and partners. This first-of-its-kind initiative aims to reward and show appreciation to the content creators and educators who have played a vital role in the company's growth and success.

Why this matters: This move sets a new precedent for stakeholder engagement and inclusive growth in the edtech industry, potentially inspiring other companies to adopt similar practices. It also highlights the importance of recognizing the contributions of external partners and customers in driving business success.

Traditionally, ESOPs (Employee Stock Ownership Plans) or stock options are reserved exclusively for permanent employees. However, Classplus is breaking new ground by extending the benefits of company growth to its broader ecosystem of stakeholders. The Gratitude SARs will enable recipients to participate in the company's success without the need to purchase shares directly.

Classplus, founded six years ago by Mukul Rustagi and Bhaswat Agarwal, is a mobile-first SaaS platform that empowers creators to transform their skills and expertise into thriving online businesses through content monetization. The company has raised approximately $150 million from prominent investors such as Tiger Global, AWI, RTP Global, Blume Ventures, and Peak XV's Surge.

The introduction of Gratitude SARs represents a significant step in fostering a deeper partnership between Classplus and its user base. By allowing customers to benefit from the company's growth, Classplus is demonstrating its commitment to creating value for all stakeholders and recognizing the integral role they play in the platform's success.

This groundbreaking initiative comes on the heels of Classplus announcing an ESOP buyback for over 150 employees across various roles and business verticals in February 2024. The buyback, which marked the company's second such move since its inception, highlights Classplus's dedication to rewarding and retaining talent within the organization.

As Classplus continues to innovate and disrupt the edtech industry, the introduction of Gratitude SARs sets a new benchmark for inclusive growth and stakeholder engagement. By extending the benefits of company success to its customers, vendors, and partners, Classplus is paving the way for a more equitable and collaborative ecosystem in the digital education space.

Key Takeaways

  • Classplus introduces "Gratitude SARs" for customers, vendors, and partners.
  • This initiative rewards stakeholders for their role in the company's growth.
  • Gratitude SARs allow recipients to benefit from company growth without buying shares.
  • This move sets a new precedent for inclusive growth in the edtech industry.
  • Classplus demonstrates commitment to creating value for all stakeholders.