Unacademy’s Graphy acquires edtech startup Spayee for $25M
The acquisition of Spayee will enable Graphy to expand its reach in the creator economy, which allows anyone to start their online courses.
, an Unacademy Group company, has announced the acquisition of edtech platform for $25 million as it looks to strengthen its position in the creator economy.
Founded in 2014, Spayee is a SaaS platform, which lets anyone create, market, and sell their courses online.
According to a statement from Graphy, the acquisition will increase its reach and optimise its product offerings. Post the acquisition, Spayee will continue to operate independently.
Spayee 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.
“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, and scalable medium for content creators to build an online education business,” said Sumit Jain, Co-founder and CEO, Graphy.
Graphy was first introduced byin June last year as a platform. As per review done by YourStory on the Graphy app, it lets users explore clutter-breaking ideas and storytelling with elements like video, audio, images, and quizzes, in an easy-to-consume chapter format. Users can watch, read, or play with the content. Graphy invites creators (known as ‘graphers’), including business leaders, entrepreneurs, artists, authors, and sports coaches from across the globe to curate their best stories, ideas, and experiences.
Graphy also 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.
Led by co-founders Sushil Kumar, Sumit Jain, and Shobhit Bakliwal, Graphy has over 500+ active creators.
Edited by Megha Reddy