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Unacademy acquires live game streaming platform Rheo TV


Edtech startup Unacademy on Monday announced its acquisition of live game streaming platform Rheo TV.

Existing investors Lightspeed India Partners, Sequoia Capital India’s Surge, AET Fund, Phanindra Sama, founder and former CEO of RedBus, and Mahesh Narayan, ex-country head of Google Mobile will exit fully, it said in a press statement.

As part of the deal, Bengaluru-based Unacademy will fully acquire Rheo TV, and enable the exit of all existing investors.

“Post the acquisition, Rheo TV founders Saksham Keshri and Prakash Kumar will join Relevel–an Unacademy Group company that seeks to revolutionise the Indian job market by enabling job seekers to showcase their skills through tests, and secure employment at some of India’s top companies– as cofounders,” it said.

Set up in August 2019, Rheo TV helps professional game streamers livestream their gameplays and monetise those feeds. The platform amassed more than 5 million users and over 10,000 live streamers, according to the statement.

The company did not reveal the value of the transaction.

Unacademy has made over seven acquisitions so far. In February, it
acquired TapChief — an online platform for professionals to earn incomes without full-time jobs — at a valuation of Rs 100 crore.

UnacademyETtech

Earlier in June, its content platform Graphy
unveiled the Graphy Creator Grant worth Rs 100 crore. Graphy enables creators to grow their audience, monetise their skills and host live cohort-based courses.

Founded in 2015, Unacademy has over 50,000 registered educators and over 62 million learners, according to the press statement. Unacademy Group comprises Unacademy, PrepLadder, CodeChef, Graphy, and Relevel. The company is backed by investors such as Tiger Global, Dragoneer Investment Group, SoftBank Vision Fund 2, Facebook, General Atlantic, and Sequoia India.

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Another edtech major, Byju’s, today announced its
acquisition of professional and higher education platform Great Learning for $600 million in a cash-and-stock deal.



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