Although they are difficult to get, scholarships provide significant financial aid when attending college. Christopher Gray, a student who has personally dealt with the difficulty of college applications, was eager to find a solution. After creating the Scholly app, he appeared on Shark Tank and struck a deal with Daymond John and Lori Greiner. Scholly will be valued at $1.5 million in 2022.
Regarding the Founder of Scholly
From Pennsylvania’s Philadelphia, Christopher Gray. He was reared by a single mother who battled to hold down a career amid challenging circumstances. Gray attended Drexel University to study entrepreneurship and finance because he desired a better life for himself.
He looked for scholarships for more than seven months, writing essays primarily using public library computers. In the end, Gray’s plan helped him secure scholarships worth almost $1.3 million.
The Alabama youth mastered the art of finding and obtaining scholarship funding. He breezed through his four years of college as a result, graduating with a bachelor’s degree. He was able to devote more time to his studies thanks to the funding because he was free from financial obligations.
Setting Up the Company
Gray was motivated to develop a smartphone app that will make the college application process simpler for kids all around the world as a result of his experience. He collaborated with programmers Nick Pirollo and Bryson Alef, who subsequently served as Scholly’s co-founders.
In 2013, the app was formally released. It offers genuine scholarships, which have helped hundreds of students finish college by instantly connecting them with appropriate scholarships. Based on factors like GPA, race, gender, and state, the website may compile a tailored list of appropriate scholarships.
After its formal debut, Scholly assisted Philadelphia students in receiving more than $9 million in scholarship money. In order to increase its reach and attract foreign consumers, Christopher required additional money.
Scholly on Shark Tank
Christopher Gray offered the Sharks a 15% stake in his startup in exchange for $40,000 to advance into the next stage of his plan. He appeared on the program during season six, and his explanation of Scholly’s operation captured the attention of SharkTank investors.
After explaining that more than $100 million in scholarship money go unused each year, he further piqued the Sharks’ interest. Daymond John and Lori Greiner, however, adored the business strategy.
Without even knowing how much money Scholly was presently generating, they banded together to divide the $40,000 investment. Robert was upset about this since he didn’t want the program to turn into a charity. The founder of Scholly still said yes to Lori and Daymond despite all the fuss.
Following Shark Tank
Following the airing of their Shark Tank episode, Scholly was highlighted by several prominent media publications, including BusinessWeek, Forbes, Fortune Magazine, Fox News, and others. Aside from meeting Oprah and Bill Gates, Gray has also received two invitations to the White House.
With over 850,000 downloads, Scholly quickly rose to the top spot in the app store for college scholarships. The app was previously $0.99, but it is currently free. The app’s creators are currently working on adding a tool to assist with student loan debt. To address this issue, they have partnered with Jesse Williams, an actor.
Or more than $100 million in scholarship money has been claimed by students with the help of Scholly. Due to competition, the corporation doesn’t disclose its yearly sales in the open. Scholly is still thought to be worth about $1.5 million.
How trustworthy is Scholly?
With Scholly, students have won more than $100 million since 2015. Scholly is pleased to be the top scholarship app in the globe with more than 3,000 five-star ratings. Learn how Scholly can help students win free money for college and save time.
Why did the sharks hate Scholly so much?
All the Sharks wanted to do was invest. Christopher Gray, a Drexel undergrad and the creator of the scholarship app Scholly, started a brawl on Shark Tank on ABC after two investors, Daymond John and Lori Greiner, pushed for a $40,000 investment before Gray had a chance to fully explain his business plan.
How many people have downloaded Scholly?
Students at Drexel started approaching Gray for aid in locating funds to support their continued education. He had the inspiration for the Scholly app.
Since then, the app has received 850,000 downloads and connected students to $50 million in scholarships.