Graphy, a company owned by the Unacademy Group, has acquired Spayee, an EdTech startup that gives organizations, educators and influencers the right to create, market and sell their multimedia courses through a secure white-label platform for 25 million.
With the latest acquisition, Graphic aims to strengthen its position in the Creator ecosystem, while increasing its reach and enabling it to optimize its product offerings.
Following the acquisition, Spy will continue to operate independently, the company said in a statement.
Founded in 2014 by Sandeep Singh, Gaurav Kakkad, Anirudh Singh and Vijay Singh, the Noida-based spy content maker allows customized courses in the form of audio and video tutorials, PDF documents, quizzes, assignments and live classes. It also supports startup creators to create and build their own websites and mobile apps on Android and iOS. Currently, more than 2,000 manufacturers and businesses have launched their platform using Spayee.
Graffiti co-founder and CEO Sumit Jain said,
“The creator economy is booming and at Graphic, we’re constantly looking for ways to help creators grow and achieve their full potential. We share a common ethos with Spayee, recognizing the need for an affordable, secure and scalable medium. And Spy has come up with a winning proposal for the producers. We believe that keeping them part of the Unacademy Group will help us find common ground and build the largest producer community in the world. “
Announcing the acquisition, Spy posted on his official Twitter page,
“With the skills and resources of Unacademy, we can achieve our goal of building India’s largest producer economy.”
Launched in 2018 by Sumit Jain, Sushil Kumar and Shobhit Bakliwal, Graffi is a platform that helps producers grow their audience, monetize their skills and organize live cohort-based courses. It currently has more than 500 active creators using the platform to expand their reach and monetize their skills. The Unacademy Group company recently launched a number of programs, such as the Creator Grant and the Graphic Select Accelerator program, to help create the Creator Economy and help creators hone their skills and start their online school.
Unacademy has already acquired three acquisitions this year, including professional networking and work platform TapChief, online admissions platform Handa Ka Fanda for Common Admission Test (CAT) aspirants and game streaming platform Rheo TV.
In early August this year, Unacademy raised 4 440 million from the General Atlantic, Tiger Global and Softbank Vision funds. Ferry valued Adtech Major at ३ 3.44 billion, more than doubling since September last year when the company joined India’s prestigious Unicorn Club with a valuation of 1.45 billion.
Unacademy, headquartered in Bengaluru, has spent nearly $ 100 million on various acquisitions since 2018 to strengthen its capacity beyond the test preparation vertical.
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