What Happened to Scholify After Shark Tank India?
What is Scholify?
Scholify is an online platform that matches students with available scholarships in the country at that moment. Students can easily apply for these scholarships with just one click.
Scholify can earn money in 2 ways. Scholify takes a license fee from different corporations for implementing CSR. Scholify also charges its students a subscription fee.
The fee is quite economical so that the students don’t feel that they’re overspending.
Scholify was a pre-revenue company at the time of pitching the idea on Shark Tank India.
Who is the Founder of Scholify?
Mayank Pareek is the founder of Scholify. He’s from Bangalore. He wanted to pursue higher education in Singapore. He didn’t have a financially solvent family. Unfortunately, he didn’t get his education loan approved.
He found a gap between the students who don’t have much money & scholarships available in the country.
He wanted to make Scholify a Unicorn company in this scholarship space.
Scholify Before Shark Tank India?
More than 750k students have registered and made their profiles in Scholify. It has provided scholarships to 2200 students in total.
How much money did he ask for on the pitch?
He came to Shark Tank India seeking ₹50 Lakhs for 7.5% equity in the company Scholify. Which gives the company ₹6.67 Crores valuation.
What are the Annual Sales of Scholify?
It was a pre-revenue company, therefore it didn’t have any annual sales.
Which shark gave Scholify an offer?
Ashneer Grover was out. He advised him to work for a company and understand how business works. Because at that moment, Scholify didn’t have any sustainable business model.
Anupam Mittal was out. He couldn’t understand the business model of Scholify. He couldn’t figure out how he could make money in the long run.
Vineeta Singh was out. She advised him to get some revenue in the company and come back in the future.
Namita Thapar was out. She felt a lot of work had to be done before making this platform profitable.
Aman Gupta was out. He liked the name and advised him to trademark the name. he couldn’t understand the business model.
What deal did Scholify get in Shark Tank India?
Scholify didn’t get any deal in Shark Tank India.
| Company Name | Scholify |
| Founder | Mayank Pareek |
| Asked Amount | ₹50 Lakhs for 7.5% |
| Final Deal | No Deal |
| Shark | No Shark |
| Company Net Worth | ₹6.67 Crores |
| Company Website | scholifyme.com |
| Company Status | In Business |
What is the net worth of Scholify?
The net worth of Scholify is ₹6.67 Crores according to the founder.
Is Scholify still in Business?
Yes, Scholify is still in the student’s scholarship business.
