A smartphone application called Scholly makes it easier for kids to discover college scholarships. Christopher Gray introduced Scholly App on Shark Tank Season 6, Episode 17.
What Is Scholly?
Scholly offers students the opportunity to find and apply for scholarships from their mobile devices or online.
Scholly is a scholarship offering platform that helps students to receive a perfect scholarship according to their eligibility criteria.
Scholly provides financial aid to assist students with paying their college debts and finding money to attend the college of their dreams.
Scholarships are a great opportunity for students to get loans to pay debts while they are in school and purchase the college of their dreams.
It is simply a set of databases converted to a form that allows students to apply for a scholarship.
After providing some information, a student can get a list of scholarships that they may qualify for.
The Scholly staff updates scholarship information weekly, so students have access to the most current scholarship information.
|Product||App for finding college scholarships|
|Investment Seeking||$40,000 For 15% equity in Scholly|
|Final Deal||$40,000 For 15% equity in Scholly|
|Shark||Daymond John and Lori Greiner|
|Episode||Episode 20 Season 6|
|Business Status||In Business|
Who Is The Founder Of Scholly?
Christopher Gray, Nicholas Pirollo, and Bryson Alef are founders of Scholly. Scholly was founded and is led by Christopher, the company’s founder and CEO.
Nicholas was Scholly’s CDO initially. He currently serves as its Director.
Nicolas is also the Deputy Chief Technology Officer at First Republic Bank and a member of the Ivee Advisor team. At the same time, honorable Bryson co-founded Scholly and is now the First Republic Bank’s president of products.
Scholly Before Shark Tank
Scholly was founded by Nicholas Gray due to his troubles with the college application process.
He was born into a low-income home, and his parents struggled to provide even the most necessities, such as access to the internet.
When he first enrolled at the university, he had to fight hard to acquire scholarships, but he eventually succeeded.
He created an application to provide low-cost access to scholarship opportunities for financially strapped students.
Scholly helped students raise more than $9 million in scholarship funds within a year of its first launch in Philadelphia in 2014.
The app’s creators had built a website through partnerships before going on Shark Tank to pitch their idea.
How Was The Shark Tank Pitch Of Scholly?
Christopher appeared on Shark Tank requesting an investment of $40,000 in exchange for a 15% stake in Scholly.
Lori offered to invest $40,0000 in return for 15% of the equity in Scholly and asked him to say Yes to the deal.
Christopher wants to get more offers from all the potential buyers. Daymond also wants him to accept her offer right now.
Many people remain silent; therefore, everyone except Christopher accepts her offer, and they have a deal on the show.
Final Deal: Lori and Daymond agreed to invest$40,000 for a 15% stake in Scholly.
What Happened To Scholly After Shark Tank?
The magazine Forbes still features Scholly on several occasions, demonstrating the company’s success.
Scholly has also dropped the price point as it grows, making it free to download on the Google Play Store and the Apple App Store.
I was confused by the low price, and further research revealed that in-app purchases are available at $2.99.
Scholly is doing well on social media, with 31500 likes on the Facebook page and various articles highlighting Chris’s excellent strategy for saving students billions of dollars annually.
Android Play Store customers give this app a 3.5 rating across 159 reviews, while iOS users score 4.0 out of 7.
Scholly is still in business as of 2022 and doing well for itself.
Scholly Shark Tank Update
Scholly has been covered in several media since Shark Tank, including Time, Forbes, and BusinessWeek. An advertisement for Cadillac’s “Daring Origins” featured CEO Gray.
Scholly is also becoming very popular and helps students in many ways after appearing on Shark Tank.
Scholly announced that they have completed the deal with Lori and Daymond and will use the deals to expand their operations.
In January 2021, students from all over the world received over $100 million in scholarships. In addition, Scholly was the most popular application for scholarships to students from around the world.
He won the prestigious Smithsonian Award for his innovative work. He launched various campaigns with some of the major celebrities to connect more students with them.
Scholly’s story is covered by leading news agencies such as Forbes. Also, who does this on different occasions?
Sunny became aware of Scholly for the first time while watching Shark Tank and “instantly downloaded the app.” Sunny will graduate from Princeton University in 2020.
Is Scholly Still In Business?
It’s good to see that Scholly, the app and internet platform that helps high school students find study grants and scholarships to further their education, is still in operation.
Scholly offers a variety of subscription plans that range from month to month up to a year in length after a free three-day trial.
Scholly then connects aspiring college students with organizations or institutions that can help them advance their education by filling out the application information.
Scholarships.com, Scholly’s main competitor, does much the same, except it allows potential scholarship providers to advertise their services.
Scholly is still in business as of 2022, with annual revenue above $5 million.
What Is the Net Worth of Scholly?
The valuation of Scholly was $2.67 million when it appeared on Shark Tank. The net worth of Scholly is above $5 million as of 2022.