Unacademy takes over live game streaming platform Rheo TV

Unacademy, an Indian educational technology company, has recently announced the purchase of Rheo TV, a live game streaming platform focused on making professional game streaming a mainstream career choice in India.

Launched in August 2019, Rheo TV assists professional game streamers in live streaming and monetizing their feeds. Currently, the platform has over 5 million users and over 10,000 live streamers.

As per the terms of the agreement, Unacademy will completely acquire Rheo TV and enable existing investors to exit.

The firm’s existing investors including Sequoia Capital India's Surge, Phanindra Sama, founder and former CEO of RedBus, Mahesh Narayan, ex-country head of Google Mobile, and Lightspeed India Partners.

As per a statement released by the company, Prakash Kumar and Saksham Keshri, the founders of Rheo TV, will become cofounders of Relevel, an Unacademy Group company that aims to revitalize the Indian job market by enabling job seekers to exemplify their skills through tests and secure jobs at some of India's top companies.

Until now, Unacademy has acquired seven organizations. For example, TapChief, an online platform for professionals to earn incomes without full-time jobs, was acquired by the company in February at a valuation of Rs 100 crore.

Graphy, the company's content platform, unveiled the Graphy Creator Grant worth Rs 100 crore in June. Creators may use Graphy to expand their audience, make money with their expertise, and organize live cohort-based classes.

As per a press statement, Unacademy, established in 2015, has over 50,000 registered educators and over 62 million learners. Academy Group encompasses Graphy, PrepLadder, Unacademy, Relevel, and CodeChef.

Also, the company is backed by investors such as Dragoneer Investment, Tiger Global, Facebook, General Atlantic, SoftBank Vision Fund 2, and Sequoia India.

Incidentally, edtech giant, Byju's has also recently announced the acquisition of Great Learning for $600 million in a cash-and-stock deal.

Source Credit - https://economictimes.indiatimes.com/tech/startups/unacademy-acquires-live-game-streaming-platform-rheo-tv/articleshow/84760046.cms