Finding scholarships can be a daunting task for students, but Scholly changed the game by simplifying the process. Created by entrepreneur Christopher Gray in 2013, Scholly is a scholarship-matching app that has helped students secure over $100 million in scholarship funds. The app gained national attention after appearing on Shark Tank in 2015, where it landed a deal with Lori Greiner and Daymond John.
Fast forward to 2024, and Scholly continues to make a significant impact. The company was acquired by Sallie Mae in a multimillion-dollar deal in 2023, leading to a major expansion of its services. But just how much is Scholly worth today? Let’s dive into the details of its net worth, business journey, and Shark Tank deal.
RELATED: Why did Sallie Mae Aquire Scholly ?
Who Is Christopher Gray? The Visionary Behind Scholly
Christopher Gray, the founder of Scholly, knows firsthand the struggles of finding college scholarships. Raised by a single mother in Philadelphia, Gray spent seven months searching for scholarships, ultimately securing $1.3 million to fund his education at Drexel University.
Motivated by his experience, Gray teamed up with developers Nick Pirollo and Bryson Alef to create Scholly. The app was designed to match students with scholarships based on their background, interests, and academic achievements, making it easier to access funding opportunities.
The Shark Tank Pitch: A Heated Battle in the Tank
When Christopher Gray stepped into the Shark Tank during Season 6, Episode 20, he asked for $40,000 for a 15% stake in Scholly. His pitch emphasized the $100 million in unclaimed scholarships each year and how Scholly could help students access these funds.
The pitch quickly turned into one of the most controversial moments in Shark Tank history. While Daymond John and Lori Greiner immediately saw the potential and agreed to invest, Mark Cuban and Kevin O’Leary were skeptical, arguing that the investment was made without fully evaluating the business’s financials.
Despite the tension, Gray accepted the offer from Daymond and Lori, sealing the deal on the spot.
Scholly Pitch on Shark Tank (Quick Info Card)
| Company name | Scholly |
| Product | A college scholarship-finding app |
| Episode | Season 06 Episode 20 |
| Founder | Christopher Gray |
| Asked for | $40,000 for 15% equity |
| Final deal | $40,000 for 15% equity |
| Sharks | Lori Greiner and Daymond John |
| Location | Philadelphia, Pennsylvania |
Scholly’s Post-Shark Tank Growth & Success
Scholly’s appearance on Shark Tank led to an explosion in downloads, with over 80,000 users signing up within hours of the episode airing. The app quickly became the #1 education app in both the Apple and Google Play stores, earning widespread media attention from Forbes, Fortune Magazine, and Fox News.
Key Business Milestones:
- 2015: Scholly is featured on Shark Tank and secures a deal.
- 2016: Gray wins the Smithsonian American Ingenuity Award for Youth Achievement.
- 2017: Named in Forbes 30 Under 30.
- 2020: Scholly surpasses $100 million in scholarships awarded to students.
- 2023: Sallie Mae acquires Scholly in a multimillion-dollar deal.
Following the acquisition, Scholly became Scholly by Sallie and is now free for all students, further expanding its reach.
What Is Scholly’s Net Worth in 2025?
Scholly’s net worth has grown significantly over the years. While estimates vary, reports suggest the company is currently worth between $5 million and $10 million. The acquisition by Sallie Mae significantly boosted its valuation, but the exact purchase price remains undisclosed.
Christopher Gray’s Net Worth
As the founder of Scholly, Christopher Gray’s personal net worth is estimated to be between $1 million and $5 million. His success with Scholly and new ventures, such as the AI-powered education platform Path, have solidified his reputation as a leading entrepreneur in the education technology space.
How Much Did the Sharks Make?
Daymond John and Lori Greiner’s $40,000 investment for 15% equity turned out to be a massive success. While the exact ROI remains unclear, Scholly’s acquisition by Sallie Mae likely resulted in a return of 40x or more on their initial investment.
For comparison:
- Scholly’s Shark Tank valuation (2015): $266,000.
- Scholly’s estimated worth (2025): $5M – $10M.
Considering the high-profile acquisition and continued success, the Sharks’ investment in Scholly is one of the best deals in Shark Tank history.
Final Thoughts: A Shark Tank Win & A Lasting Legacy
Scholly’s journey from a startup idea to a multimillion-dollar acquisition showcases the power of innovation and persistence. Christopher Gray turned his personal struggle into a life-changing solution for millions of students. With Sallie Mae’s backing, Scholly continues to thrive, making scholarships more accessible than ever.
Scholly’s $5M-$10M net worth proves that great ideas with real impact can turn into profitable, game-changing businesses. What’s next for Scholly? Only time will tell, but its legacy as one of Shark Tank’s most successful startups is already cemented.
TL;DR
Scholly, the scholarship-matching app, landed a deal on Shark Tank and was later acquired by Sallie Mae. In 2025, its estimated net worth is $5M-$10M, making it one of the show’s biggest success stories.
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