Adda247 Co-Founder Chandan Singh Quits | NDTV Profit Exclusive

Singh, who was promoted to the position of co-founder of the regional language test prep platform in January 2023 after serving as the chief product officer, is currently on his way out and serving his notice period.

Singh confirmed his exit to NDTV Profit but refused to comment on the reasons and his plans ahead.

The firm has also seen its finance and human resources heads exit over the past five months. Adda247's website also mentions only founder Anil Nagar and COO Saurabh Bansal as part of its leadership team.

The top brass churn at the edtech firm, which focuses on preparation for various Indian job exams, comes after it laid off about 300 employees in October last year.

"Chandan has been integral part of journey for more than 5 years now. Now, he wants to take a break and then pursue his startup idea and build something from scratch," Nagar told NDTV Profit.

According to conversations with former and current employees, the company has initiated a mandatory work-from-office policy and asked employees to report to the Gurgaon headquarters starting July 15.

"In case you are unable to join even on July 15 and take the decision to move on from the organisation, we'll not be pressuring anyone to work during the notice period and allow you to look for options for employment during that time," an email from Aditya Chakravarty, the new head of human resources at Adda247, read. "Your notice period shall end on July 31, 2024. In case you find success in securing an opportunity before July 31, we can relieve you earlier if you need that assistance."

NDTV Profit has reviewed a copy of the email.

Queries sent to the company didn't elicit a response immediately.

Adda247 last raised $35 million in 2022 in a funding round led by WestBridge Capital. It also saw participation from Google, along with existing investors such as InfoEdge Ventures and Asha Impact, at a valuation of $175 million. It has raised over $60 million till date.