New Delhi: Content platform Graphy on Monday announced the acquisition of edtech platform Spayee for $25 million, the Unacademy group-owned company said in a statement. The deal details on whether it was a stock swap or involved cash payout were not made available by the company.
The acquisition will strengthen Graphy’s 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, the statement added.
An Unacademy group company, Graphy is a platform that helps creators grow their audience, monetise their skills and host live cohort-based courses.
Spayee, founded in 2014 by Sandeep Singh, Gourav Kakkar, Aniruddha Singh, and Vijay Singh, allows content creators to produce customised courses in the form of audio and video tutorials, PDF documents, quizzes, assignments, and live classes. The edtech startup 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.
“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. 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, cofounder and CEO, Graphy.
Graphy, founded by Jain, Sushil Kumar and Shobhit Bakliwal, recently launched multiple programmes like the Creator Grant and Graphy Select Accelerator programme to boost the creator economy and help creators monetise their skills and launch their online school.