Edtech company, Unacademy announced the acquisition of Rheo TV. It is a platform that helps professional game streamers livestream their gameplays and monetize those feeds. Moreover, Unacademy will also fully acquire Rheo TV.
However, as part of the deal, there will be existing investors such as Lightspeed India Partners, Sequoia Capital India’s Surge, AET Fund, Phanindra Sama, Founder and Former CEO of RedBus, and Mahesh Narayanan, Ex-Country Head of Google Mobile. All these investors will fully exit.
Post the acquisition, Rheo TV founders Saksham Keshri and Prakash Kumar will join Relevel — an Unacademy Group company that seeks to revolutionise the Indian job market by enabling job-seekers to showcase their skills through tests, and secure employment at some of India’s top companies — as Co-Founders.
Rheo TV was set up in August 2019 by Saksham Keshri and Prakash Kumar to build an entertainment ecosystem that drives engagement and monetization. The platform has more than 5 million users and over 10,000 live streamers.