Scholly is a mobile app that helps prospective students find nationwide scholarships, that are sorted by merit or need. The matches are made based on information such as grade point average, race, gender, and state. This app has helped students to claim over $100 million in scholarship funds and has been downloaded more than 850,000 times.
The app was presented in important media outlets like Time, Forbes, Fox News, and Fortune Magazine after it appeared on Shark Tank during season six and received a deal from Daymond John and Lori Greiner. They offered $40,000 in exchange for 15% equity in the business.
Also, the company’s founder, Christopher Gray has been invited to the White House twice and met Bill Gates and Oprah Winfrey.
Currently, Scholly’s founders are working on realizing a feature to help with student debt. In order to solve this issue, they have teamed up with actor Jesse Williams.
What is Scholly net worth?
Scholly’s net worth is $1.5 million at the time this article is written. When this company appeared on Shark Tank it was valued at around $260,000. Though, its sales skyrocketed after the show aired and currently is valued at more than $5 million.
What is Scholly and who is the Founder of Scholly?
Scholly was co-founded in 2014, in the United States of America by Bryson Alef, Nicholas Pirollo, and Christopher Gray, who is also the CEO of the company. They created a mobile application that is essentially a scholarship search engine.
The company’s first chief development officer was Nicholas Pirollo, who is the Director of Scholly at this time. He is also a Director at Hoo.be, an Advisor at Ivee, and the Deputy Chief Technology Officer at First Republic Bank.
Currently, the other co-founder of Scholly, Bryson Alef is the president of Product at First Republic Bank.
The app offers individualized recommendations for postsecondary scholarships by linking students to scholarships that match their criteria of eligibility.
Based on criteria like race, gender, GPA, and state, Scholly filters and delivers a list of eligible scholarships that contains relevant information like deadlines and links.
Gray Christopher was named to Forbes 30 Under 30 2016 Edition thanks to this work and to the app’s one million members. Gray comes from a low-income family, that was not able to afford basic necessities like Internet access and he had to work hard to secure scholarships when he first began university.
In just one year since its founding, Scholly helped students to raise more than $9 million in scholarship funds.
In order to make sure that the students have always access to the most up-to-date information and scholarship opportunities, Scholly employees update scholarship information on the platform on a weekly basis.
Scholly Shark Tank Pitch
Before presenting the company on Shark Tank, the founder of Scholly previously developed a website through partnerships.
During season 6, episode 20 of Shark Tank, Gray appeared on the show and made a deal for a 15% stake in the company and $40,000, which indicated a value of around $266,000.
Christopher described his app during the pitch as compatible with both Android and iPhone operating systems.
When asked if he worked alone on this app, Gray said that he had two co-founders who were more development-oriented and technical, while he was the businessman and CEO.
The Sharks were impressed to find out that more than $100 million in scholarship money goes unclaimed every year and Scholly received $1.3 million in scholarships.
In the app store, Scholly charges $0.99, and there have been around 92,000 paid applications in less than one year.
Scholly received 80,000 requests in a matter of hours, after the episode’s broadcast. The app had been downloaded by 850,000 users and linked students to over $50 million in scholarships by December 2016.
In 2021, Scholly was the world’s leading scholarship app and has helped the discovery of more than $100 million in funding for students.
The main competitor of Scholly is Scholarships.com.
What is Scholly from Shark Tank?
Scholly is a famous mobile app that assists students in getting matched with scholarships all over the country based on some populated information. The app became very popular after it appeared in the show Shark Tank. There, the founder of the app, Christopher Gray received an investment of $40,000 from sharks Daymond John and Lori Greiner.
Also, after their presence on Shark Tank, Scholly partnered with many organizations, such as the Coca-Cola Scholar Foundation, the Boys & Girls Club of America, and the United Negro College Fund.
What is the net worth of Christopher Gray?
Christopher Gray has a net worth of $1 million.
Where is Scholly based?
Scholly is based in Philadelphia, Pennsylvania, USA.
Is Scholly still in business?
Yes, the platform Scholly is still in business. The company experienced significant success and growth after Christopher Gray appeared on the Shark Tank show in 2015. It became a major college scholarship provider, with more than 4 million users in 2022.
This year they are beta-testing the new app and dropped their price point, making it free to download on the Apple App Store and Google Play.
What is the current valuation of Scholly after Shark Tank?
Currently, Scholly is valued at more than $5 million. Since appearing on Shark Tank, the company has had almost $11 million in retail sales.
How much was Christopher Gray seeking in the Shark Tank Pitch?
Christopher Gray was seeking an investment of $40,000 in the Shark Tank Pitch. He offered a 15% stake in the company for this amount.
How old should I be to apply for Scholly?
In order to become a Scholly member, you should be a minimum of 18 years old.
What is included in a Scholly membership?
A Scholly membership offers full access to the entire Scholly Search app.
Is Scholly free?
Yes, Scholly offers Quick Applies and Exclusive scholarships in their search app that are completely free to apply for.