Graphy, a company from the Unacademy group that aims to empower educational
content creators to grow their audience, monetize their skills, and host live cohort-based courses, has acquired edtech startup Spayee for a total of $25Mn. This is just the latest acquisition in the edtech sphere, which has been growing like never before thanks to the pandemic, but more about that later.
Graphy says that the acquisition further cements its leadership position in the creator ecosystem, while increasing its reach and enabling it to optimise its product offerings. The company has been looking to help creators launch their own online school in under 60 seconds, and has already managed to amass over 500+ active creators.
Post acquisition, Spayee will continue to operate as an individual entity.
Spayee, founded in 2014, by Sandeep Singh, Gourav Kakkar, Aniruddha Singh,
and Vijay Singh, allows users to produce customised courses in the form of audio and video tutorials, PDF documents, quizzes, assignments, and live classes. Moreover, it also supports creators to create their own websites and mobile apps, thus helping them achieve technological independence for teaching.
Thus, Spayee’s offering fits perfectly well with what Graphy is looking to achieve, something that Sumit Jain, Co Founder of Graphy noted as well. “We share a common ethos with Spayee, recognising the need for an affordable, secured and scalable medium for content creators to build an online education business,” he said. Moreover, he believes that having Spayee as part of the Unacademy Group will help the company explore common synergies and build the world’s largest creator community.”
This is not the first time Graphy has made a move like this ever since it entered the Unacademy Group. Earlier this year, the company had announced the Graphy Creator grant worth ₹100 Cr to help teachers set up online schools on its platform.
Edtech firms have been making more acquisitions than ever before, fueled by unprecedented growth. Byju’s the biggest player in the market, has spent billions of dollars acquiring new companies to expand into new areas, and has already become the most valuable Indian startup. Unacademy, which is perhaps the biggest name in the market after Byju Raveendran’s firm, is not shying away from a fight, and has been making a few acquisitions of its own like Rheo TV, Handa ka Funda, TapChief and many more.