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Scholly Shark Tank Update

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Scholly is introduced as a scholarship-providing platform that helps students to find a perfect scholarship according to their eligibility criteria. They are used to help students to get a scholarship to pay their college debts and find money to go to the college of their dreams. It is a set of databases that are converted into an application.

Students have to mention their criteria and Scholly recommends them for suitable scholarships. It manages a deadline and helps each student to get their scholarship.

Scholly at a glance

SeasonSeason-06, Episode-20
Business IdeaScholarship Provider App.
FoundersChristopher Grey.
Asked For$40,000 for 15% of equity.
Accepted Deal$40,000 for 15% of equity.
SharksLori Greiner and Daymond Jhon.
Business StatusIn Business.
WebsiteScholly

Index:

Founder Story:

Scholly is founded and developed by a young entrepreneur called Christopher Grey who was a student of Drexel University. Being a student he saw that major students and their parents cannot pay their college debts which causes him to lack better facilities and education. Also, they receive over $1.3 Million as a scholarship which helps him to pay off his debts.

They researched it to get a solution of it and they found that the Million of Dollars that are available as scholarship remains unclaimed and over a thousand students cannot finds a way to get it. They want to help them to get a scholarship to pay/her college debts. Therefore they created Scholly with her two classmates.

Did Scholly get a deal on Shark Tank?

Scholly is introduced as a scholarship providing platform to help various college students to get into their college of dreams. They introduce Scholly as application software that finds a suitable scholarship for you and helps them to get it according to your eligibility criteria. Students have to fill out their eligibility and they show various scholarship options for you at a very minimum charge of $0.90 only.

They also, explain about they get over $1.3 Million as a scholarship which helps them to pay off their debt. They showed their application sample to Sharks and asked for $40,000 in exchange for 15% of their company.

Lori initially offers him $40,0000 for 15% of equity after listening to their pitch and asked him to say yes to him. Christopher wants to get more offers, later Daymond also joins Lori in his offer and asked him to say yes right now. Others remain silent therefore Christopher accepted her offer and here they got her deal on the show.

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What Happened to Scholly after Shark Tank?

After the show, it becomes a very popular application for providing scholarships to various students. Also, they completed their deal with Lori and Daymond and used them for further operations. As of January 2021, they helped students to get over $100 Million in scholarships and ranked the No-1 application to provide scholarships to the students of the world.

Later he won’s Smithsonian Award for American Ingenuity and launched various campaigns with their star celebrities sharks to connect more students with them. Its story is also covered by various leading news agencies like Forbes. Who covers her story on various occasions.

Competitors of Scholly

Scholly becomes one of the most recognized applications for providing scholarships to the students although they also have to face various competitions during their journey as some of its competitors are as follows:-

  • Armacad:- it is the place to find some international scholarships and provides various research and study opportunities to students.
  • ScholorX:- it is also a scholarship-providing platform for students.
  • Future Minds Fund:- it is a single and one of its kind platform that allows direct financial support to students through crowdfunding sources.

These are some major competitors of Scholly.

Net Worth of Scholly

After the show, it becomes a major problem solver for students in taking scholarships for their studies. Although the net worth of the company cannot be available but estimated that its valuation increased up to 10 times from $260,000 at the time of Shark Tank Appearance.

Is Scholly still in Business?

Scholly is still in business and operating profitably as it helped thousands of students in their studies and become a major scholarship provider in the entire country. Currently, they hold their position and operate their business.

Scholly social links:

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FAQs:

What is Scholly?

Scholly is introduced as a scholarship-providing platform that helps students to find a perfect scholarship according to their eligibility criteria. They are used to help students to get a scholarship to pay their college debts and find money to go to the college of their dreams.

Who founded Scholly?

Scholly is founded and developed by a young entrepreneur called Christopher Grey who was a student of Drexel University. Being a student he saw that major students and their parents cannot pay their college debts which causes him to lack better facilities and education.

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