Sunday, October 24, 2021

Unacademy-backed Graphy acquires edtech start-up Spayee for $25 million


An Unacademy Group company Graphy has acquired edtech platform Spayee for $25 million.

The acquisition strengthens Graphy’s leadership position in the creator ecosystem, while increasing its reach and enabling it to optimise its product offerings. Post the acquisition, Spayee will continue to operate independently.

Spayee was founded in 2014, by Sandeep Singh, Gourav Kakkar, Aniruddha Singh, and Vijay Singh. The platform allows content creators to produce customised courses in the form of audio and video tutorials, PDF documents, quizzes, assignments, and live classes. Spayee also supports creators to create and build their own website and mobile apps on Android and iOS. Currently over 2,000 creators and businesses have launched their platforms using Spayee.

Unacademy infuses $20 million in its group company Relevel

“The creator economy is booming and at Graphy, we are constantly on the lookout for avenues that will help creators grow and achieve their full potential. We share a common ethos with Spayee, recognising the need for an affordable, secured & scalable medium for content creators to build an online education business. And Spayee has built a winning proposition for creators. We are confident that having them as part of the Unacademy Group will help us explore common synergies and build the world’s largest creator community,” said Sumit Jain, Co-Founder and CEO, Graphy.

Unacademy halts operations of Mastree, absorbs most employees for higher pay

Graphy recently launched multiple programs like the Creator Grant and Graphy Select Accelerator program to boost the creator economy and help creators monetise their skills and launch their online school.

Source link

Leave a Response