Scholly Shark Tank Net Worth 2023
As of 2023, Scholly is worth $1.5 million. The company was valued at around $260,000 when it appeared on Shark Tank. However, after the show aired, Scholly’s sales skyrocketed and the company is now valued at over $5 million.
Scholly is a mobile app that matches prospective students with nationwide scholarships based on populated data such as state, race, grade point average, gender, and sort by need or merit-based scholarships.
The app has been downloaded over 850,000 times and has helped students claim more than $100 million in scholarship funds.
After appearing on Shark Tank during season six and receiving a deal from Lori Greiner and Daymond John for $40,000 in exchange for 15% equity in the company, Scholly was featured in major media outlets such as Forbes, Fortune Magazine, Fox News, and Time.
The company’s founder Christopher Gray has also met Oprah Winfrey and Bill Gates and has been invited to the White House twice.
Scholly’s developers are currently working on creating a feature to help with student debt. They have teamed up with actor Jesse Williams to tackle this problem.
What is Scholly? Who is founder of Scholly?
Christopher Gray, the founder and CEO of Scholly, created a scholarship search engine and mobile application in the United States.
The platform provides personalized recommendations for postsecondary scholarships by linking students to scholarships that match their eligibility criteria.
It filters and delivers a list of eligible scholarships with relevant information such as links and deadlines, based on characteristics such as gender, state, GPA, and race.
For his work on Scholly, Gray was named to Forbes’ 2016 30 Under 30 list of social entrepreneurs, due to the platform’s one million members.
Scholly personnel update scholarship information in the application on a weekly basis to ensure that students always have access to the most up-to-date information and scholarship options.
Scholly was co-founded by Nicholas Pirollo, Bryson Alef, and Christopher Gray. Nicholas Pirollo was the company’s first chief development officer and is currently the Director of Scholly.
In addition to his work at Scholly, Pirollo is the Deputy Chief Technology Officer at First Republic Bank, an Advisor at Ivee, and a Director at hoo.be. Bryson Alef was a co-founder of Scholly and is currently the president of Product at First Republic Bank.
Scholly was founded in 2014 in Philadelphia as a result of Gray’s own struggles with college admissions. Coming from a low-income household that couldn’t afford basic necessities such as internet access, Gray had to hustle to secure scholarships when he first started university.
He eventually won that battle and developed Scholly to assist other struggling students by providing access to scholarship options through a low-cost mobile application.
Within a year of its founding, Scholly helped students raise over $9 million in scholarship funds. The makers of the app previously developed a website through partnerships before presenting the company on Shark Tank.
Scholly Shark Tank Pitch
Christopher appeared on season 6 episode 20 of Shark Tank and made a deal for $40,000 and a 15% stake in his business, which indicated a value of $266,666.67.
During the pitch, he described his application, which is compatible with both the iPhone and Android operating systems.
When Lori asked if Chris worked alone, he responded that he had two co-founders who were more technical and development-oriented, while he was the CEO and businessman.
Mr. Wonderful was curious about how they select scholarship recipients, and Chris impressed the Sharks by revealing that he had received $1.3 million in scholarships and that over $100 million in scholarship money goes unclaimed each year.
Scholly charges $.99 in the app store, and in less than a year, there had been 92,000 paid applications. Although Lori lacked some necessary facts, she liked the concept, while Mark was inquisitive and the two argued.
Lori eventually offered Christopher $40,000 for 15%, while Daymond made the same offer.
Chris estimated that the database contained between 10,000 and 20,000 accessible scholarships and was established on an algorithm that allows a machine to scrape webpages.
Lori then announced that she would get into a joint venture with Daymond, giving a 50/50 partnership and $40,000 in exchange for 15% of the firm and an allegiance to two Sharks.
Mark was enraged, but Christopher was interested in hearing other proposals. Eventually, Chris struck a deal with Lori and Daymond for a combined sum of $40,000 and 15%.
After the episode’s broadcast, Scholly received 80,000 requests in a matter of hours, and as of December 2016, the app had been downloaded by 850,000 users, linking students to more than $50 million in scholarships.
The app has facilitated the discovery of over $100 million in funding for students and is the world’s leading scholarship app as of 2021.
Grey has met Bill Gates, received an award from Oprah Winfrey, and has been invited to the White House twice. The firm had an appearance in the “greatest Shark battles” part of The Shark Tank Greatest of All Time Special in February 2020, where the scenario in which the Sharks exit the stage was highlighted.
Scholly Net Worth
Christopher appears on Shark Tank season 6 episode 20 in exchange for $40,000 and a 15% stake in his business. This indicates a value of $266,666.67. The current value net worth is undisclosed.
Scholly Competitor
Scholarships.com is the main competitor for Scholly.
Scholly FAQS
What exactly is Scholly?
Scholly is a scholarship search engine and mobile application developed by Christopher Gray in the United States.
It filters and delivers a focused list of eligible scholarships with links and deadlines based on a range of characteristics (such as gender, state, GPA, and race).
Who is the founder of Scholly?
Christopher Gray, Nicholas Pirollo, and Bryson Alef founded Scholly.
How much was he seeking in the Shark Tank Pitch?
In the pitch, Christopher Gray was seeking a $40,000 investment in exchange of 15% stake in the Company.
Did he get a deal from the Shark Tank Pitch?
Yes, he received a deal from the Shark Tank Pitch. He received $40,000 in exchange for 15% stake in the company from Lori and Daymond.
Where is Scholly based?
Scholly is based in Philadelphia, Pennsylvania.
How does Scholly work?
Once the user signs up for an account, he or she may search for scholarship databases. The app displays a list of scholarships related to the user’s interests.
Each scholarship from this list can be applied for, with each application requiring an individualized essay that takes into account the user’s unique characteristics.
Is Scholly a legit app?
Scholly is delighted to be the world’s leading scholarship application. Discover how Scholly enables students to save time and earn free college money.
How old do they have to be for Scholly?
Additionally, applicants must be at least 18 years old and of the legal age of majority in their state of residence.
Is Scholly on Shark Tank?
Scholly gained national exposure and affection after being featured on Shark Tank, where it landed a contract with Daymond John and Lori Greiner and sparked the show’s greatest battle in history.
How Much Does Scholly Cost To Use?
Scholly provides three different subscription plans to accommodate any budget:
Monthly Subscription: $4.99
Six months; $24.99
Twelve-Month Subscription: $34.99
They provide a no-risk, three-day free trial to students who sign up for a six- or twelve-month membership, allowing them to test out and experience the value of the full Scholly Platform.
What’s included in a Scholly membership?
They give a three-day free trial period during which they may evaluate and assess the worth of what we’re delivering.
During this trial period, users may use Scholly Search to find tailored scholarship matches, Scholly Math to answer limitless math problems, and Scholly Editor to enhance their writing.
What Is A Scholly Score?
The Scholly Score is determined by the amount of factors that match between a scholarship and a member, as well as the degree of competition for the scholarship.
They’ll notice a Scholly Score, ranging from 1 to 10, on the right side of their screen for each scholarship they’re matched with.
The greater the Scholly Score, the more formidable the opponent.
What Is Scholly Search?
Scholly Search is a scholarship matching service for high school, college, and graduate school students.
Scholly Search’s adaptive matching engine and curated database promise to produce better, more tailored scholarship listings.
How do they stop paying for Scholly?
Select ‘Account’ from the Menu. Following that, click ‘Subscriptions.’ Tap ‘Cancel’ next to their Scholly subscription.
Is Scholly app free?
However, before they begin, they should be aware that Scholly is not free.
What is the net worth of Christopher Gray?
Christopher Gray net worth is $1 Million.
