Private Equity

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Edtech unicorn Unacademy acquires live game streaming platform Rheo TV

Economic Times  

Edtech unicorn Unacademy has acquired fellow Bengaluru-based live game streaming platform Rheo TV, enabling the exit of all existing investors. Lightspeed India Partners; Sequoia Capital India's Surge; AET Fund; Phanindra Sama, founder and former CEO of RedBus; and Mahesh Narayan, ex-country head of Google Mobile, will exit fully from Rheo TV. Rheo TV helps professional game streamers livestream their gameplays and monetise those feeds. The platform amassed more than 5 million users and over 10,000 live streamers. Post the acquisition, Rheo TV founders Saksham Keshri and Prakash Kumar will join Relevel, a Unacademy Group company, as co-founders. Relevel 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.

From the Venture Intelligence PE-VC Deal Database: In Sep-19, Rheo TV had raised more than INR 15 crore from Lightspeed Ventures and Sequoia Capital India. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)