Unacademy, India’s e-learning platform, announced the acquisition of Rheo TV, a platform that helps professional game streamers livestream their gameplays and monetize those feeds.
As part of the deal, Unacademy will fully acquire Rheo TV, and enable the exit of all existing investors, the company said in its statement.
Existing investors Lightspeed India Partners, Sequoia Capital India’s Surge, AET Fund, Phanindra Sama, Founder and Former CEO of RedBus, and Mahesh Narayanan, Ex- Country Head of Google Mobile will exit fully.
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 Co-Founders.
Rheo TV was set up in August 2019 by Saksham Keshri and Prakash Kumar to make professional game streaming a mainstream career option in India by building an entertainment ecosystem that drives engagement and monetization. Within a year of launch, the platform amassed more than 5 million users and over 10,000 live streamers.
Unacademy was founded by Gaurav Munjal, Hemesh Singh, and Roman Saini in 2015. Started as a YouTube channel by Gaurav Munjal in 2010, Unacademy is India’s largest learning platform with a growing network of 50,000+ registered Educators and over 62 million Learners.
With education being imparted in 14 Indian languages to learners across 5,000 cities, Unacademy Group comprises Unacademy, PrepLadder, CodeChef, Graphy, and Relevel. The company is backed by Tiger Global, Dragoneer Investment Group, SoftBank VF2, Facebook, General Atlantic, and Sequoia India.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.