Google-backed edtech startup Adda247 has reportedly laid off over 200 employees, or nearly 20% of its workforce.
The layoff is a part of a restructuring exercise ahead of its planned IPO, according to a Business Standard report.
The layoffs reportedly impacted teams across product, design, content, CUET, UPSC, judiciary preparation, and teaching functions. The exercise was carried out at the company’s Gurugram office on April 30.
In an email statement, Adda247 said that it periodically reviews its organisational structure to improve execution and better serve learners. As part of this exercise, the company made certain structural adjustments across functions while continuing to hire selectively for key roles. It added that its overall headcount has remained broadly stable and affected employees are being supported in line with company policies.
Founded by Anil Nagar and Saurabh Bansal, Adda247 offers online test preparation courses for government exams, UPSC, banking, SSC, railways, and other competitive exams.
To date, the startup has raised around $67 million from investors including Google, WestBridge Capital, Info Edge, and Asha Impact.
The restructuring comes as Adda247 prepares for a public listing within the next 12–18 months. Founder and CEO Anil Nagar recently said the company reported around Rs 240 crore in revenue in FY25, while losses stood at nearly Rs 70 crore.
According to the report, the layoffs could help the company save nearly Rs 5 crore annually in salary expenses. Employees also cited slowing growth in some segments, weaker traction in StudyIQ’s online business, and concerns around cash runway.
Back in October 2023, Adda247 had fired around 250-300 employees across verticalssuch as sales, content and faculty. Entrackr exclusively reported the development.
Source – https://entrackr.com/news/google-backed-adda247-lays-off-over-200-employees-11823560