Indian online learning platform Unacademi is in the forefront of acquiring Rio TV, a startup less than two years old that was founded by two former Unacademi employees, according to three sources. According to a source, the current deal values Rio TV, a startup that has created a platform to help professional game streamers stream their gameplay live and monetize these feeds for about a million dollars, TechCrunch could not independently verify the terms. The deal proposes a team of less than a dozen people from Rio TV to join Anocademie.
The young startup counts among its existing investors are Lightspeed India Partners, Sequoia Capital India’s Surge, as well as Unaka Academy’s founding team – Gaurab Munjal, Hemesh Singh and Roman Saini. Munjal and Sequoia, the capital of India, declined to comment. One of the founders of Rio TV did not immediately respond.
With millions of college students coming online and starting to play games, the startup bet that while most of their platforms have been able to help them make a living, their gameplay will be considered streaming as an effective career option. The streamers on Rio TV, which provide several features like Twilight, are currently rewarded based on their gameplay, follower base and past performances in various tournaments.
If the deal goes through, it will be the latest acquisition of Unacademy, a Bangalore-based startup that has earned 5 million monthly active users in more than 10,000 cities across India. Over the past two years, Facebook, Tiger Global, and Softbank-supported startups have acquired WiFi Study, PrePladder, and CourseVase and led strategic investments in Maestro.
The startup, which also manages the creator platform Graffiti, this week, unveiled more than $13 million in funding to help applicants kickstart their online school. India’s online education market is expected to grow to $19.7 billion by 2030, Bernstein analysts say in a recent report. The startup, which also manages the creator platform Graffiti, this week, unveiled more than $13 million in funding to help applicants kickstart their online school. India’s online education market is expected to grow to $19.7 billion by 2030, Bernstein analysts say in a recent report.
