Scholly acquired by Sallie Mae
Deal Synopsis
The company was purchased by Sallie Mae (Nasdaq: SLM), formally SLM Corporation, in order to extend Sallie Mae’s growing suite of education and technology solutions helping families effectively plan and pay for higher education. Scholly Search, an industry-leading scholarship search application, as well as Scholly’s scholarship administration technology and Scholly Offers, a platform that matches users with strategic partners to help them earn cash back, will allow Sallie Mae to diversify their product offering and dramatically increase the depth and breadth of their offerings to their primary customer base. Press Release.
Seller Details
Scholly is the leading online platform designed to help students and their families find and secure scholarships for higher education. The company was founded by Christopher Gray, who won over $1 million in scholarships to fund his own college education. Through a multitude of technology offerings, Scholly provides educational opportunities and financial literacy for underserved demographics among others seeking higher education and beyond. After gaining national attention by securing a deal on ABC’s SharkTank with Daymond John and Lorie Greiner, the company has continued to thrive, being a mission-oriented, high growth technology company.
Buyer Details
Sallie Mae (Nasdaq: SLM) is a leader in private student lending, and provides financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Sallie Mae believes education and life-long learning, in all forms, help people achieve great things.