Scholly is a mobile phone application created to find college scholarships. And now the company is valued at around $1.5 million net worth with $11 million in retail sales in 2023.
It appeared in the Shark Tank season 6 episode 20. So, the founder Christoper Gray entered the show hoping for $40,000 for 15% of equity. However, after a dramatic pitch, he received the deal from Lori Greiner and Daymond John.
But how does Scholly reach a net worth of around $5 million in 2023? Let’s find out more.
Scholly’s Net Worth UPDATE 2023
According to our research online, Scholly is valued at around $1.5 million in 2023. Also, it has had around $11 million in retail sales since appearing on the Shark Tank.
However, the company was evaluated at around $ 260, 000 at the time of Shark Tank. Also, their selling’s skyrocketed soon after the show aired.
How is Scholly doing now? [Latest update]
Scholly is still in the app store in 2023. It’s available for both Android and iOS. Also, it has around 4-star reviews. Because it has found over $100 million in funds it’s considered the world’s number one scholarship app. Also, now the company had introduced a few subscriptions service including lifetime subscriptions.
We're teaming up with @iJesseWilliams help you pay back your student loans! 💵— Scholly (@MyScholly) March 31, 2022
It takes 60 seconds or less to apply! Click the link below! #SchollyPayItOff
What is Scholly?
Scholly is a scholarship-searching platform. It’s available both as an app and on the web version. Also, it’s for students currently studying in the USA or students expecting to study in the USA. Also, now it’s downloaded over 850000.
However, students have post-secondary or above qualifications to apply. Subscription plans are starting from $2.92 to $200 lifetime. Not only that the app is 100% ad-free.
If you want to know how Scholly search works click here.
Because of the amazing idea behind this app, everyone is curious about the founder.
Who is the owner of Scholly?
Christoper Gray founded the Scholly inc. software company with Nick Pirollo and Bryson Elf. He was inspired by the idea after winning a scholarship worth around $1.3 million.
He is an economics graduate from Drexel University. After succeeding on Shark Tank, he won several awards including entering the 30 under 30 lists on Forbes.
In 2015 CEO Christopher Gray was named Ernst & Young’s Entrepreneur of the Year.
What happened at the Shark Tank?
Christoper enters the Shark Tank hoping for $40 000 for 15% of his company. Firstly, he gave a brief introduction about his application. And Sharks were impressed after hearing the inspiration behind his product. Robert Herjavec and Mark Cuban were concerned after hearing about the number of scholarships added to the application.
However, Lori Greiner offered him the same deal. And Daymond John joined her with a 50/50 spare. Christoper also agreed with the deal after some discussion. So, Scholly left the Shark Tank with a Successful deal with two Sharks.
But the rest of the sharks weren’t happy about the deal. So, a heated argument happened after the deal was finalized.
“Sometimes it’s about helping America and making the world a better place”
–Lori Greiner said.
“We are not the Charity Tank”-Robert Herjavec replied.
However, after a few minutes of argument, Robert Herjavec and Kevin O’Leary with Mark Cuban walk out of the pitch angry.
Here’s how the negotiations played out:
Scholly Shark Tank update- What happened after the Shark Tank?
The deal went through and was finalized after the show. However, Sharks later told the media the arguments were real and not staged. It became the number one on the downloads for a few weeks after the Show.
Also, it partnered with Bryce Thompson for financial freedom award of $100 000. Following that it connected with google for a $10,000 fund to The Women of Colour in Tech. Also, the app passes over 4 million users at the end of 2022.
Scholarship opportunity!— Google Students (@googlestudents) March 4, 2022
Announcing the new Women of Color in Tech scholarship in partnership with @MyScholly.
Meet the Googlers behind the program and learn how they’re using their tech careers to give young women more access to computer science ⬇️ https://t.co/vPJkiW26iC
Also, it added a student debt payoff service to the app. Following this Christoper was featured in CNN, Forbes, New York Times, The Wall Street, and many more popular media. So Scholly is successful in business in 2023.
Scholly is the number one app for searching for scholarships in America. It has two sections separated into Scholarships and Essays. Students can select according to GPA, State, and intended college major from parameter selection.
Also, there are options to sort and save after exploring the scholarship. In the Essay section, students can choose from five prompts. It also comes with sample essays and their support. Adding to all this the Essay section is free.
Because of this, everyone praised the app for supporting and empowering the students.
Competitors of the company?
Scholly scholarship searching app secured the deal on Shark Tank. Now the company has sales over $11 million sales after seven years. Also, the company is advancing adding new features and funding partners in 2023.
Christoper Gray is the founder and CEO of Scholly.
Christoper Gray is the founder of Scholly.
Yes, Scholly is available on Playstore and App store.
Yes, Scholly is only for students planning to study in the USA. So, International students expecting to study in the USA can apply.
Scholly only cost $4.99 per monthly Subscription.
Yes, Because of the easy-to-use arrangement and different collaboration, it has more opportunities than many other similar apps.