Scholly

Last updated

Scholly
Scholly logo.png
Available inEnglish
Country of origin America
Founders
  • Christopher Gray
  • Nick Pirollo
  • Bryson Alef
CEOChristopher Gray
Key peopleChristopher Gray
Industry Education, University
Products Scholly Payoff, Scholly
Revenue US$30 million (2023, cumulative)
Parent Sallie Mae
URL https://myscholly.com/
CommercialYes
Users 5 million (as of March 2024)
Current statusonline

Scholly is an American scholarship web and app search platform developed by Christopher Gray. The platform makes custom recommendations for postsecondary scholarships by matching students to the scholarships they personally qualify for. It uses a variety of parameters (such as gender, state, GPA, race, etc.) to filter and deliver a targeted list of appropriate scholarships along with links and deadlines. [1]

Contents

History

Founding

The company was founded by Christopher Gray. [2] [3] The eldest of three siblings raised by a single mother, his mother had just lost her job at a call center in the 2008 recession. As the first child in his family to go to college, Gray searched for scholarships online as a way to pay for his fees and tuition, and eventually earned $1.3 million in scholarships. [3]

While attending Drexel University, he founded Scholly with web developers Nick Pirollo and Bryson Alef. [4]

Growth

Gray appeared in ABC's Shark Tank , where entrepreneurs try to convince a panel of financiers (Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec) to invest in their business. Gray secured $40,000 in capital from Greiner and John, which sparked an intense disagreement with the other three after Gray exited the room. [4]

Within hours after the episode aired, the Scholly site received 80,000 requests in a few hours. Since December 2016, 5 million users have downloaded the app. Scholly generated over $30 million in cumulative revenue by 2023. [5]

In 2023, Scholly was acquired by educational lender Sallie Mae for an undisclosed sum. The app, which was previously $2.99 USD to download, will become free of charge. [6]

References

  1. ↑ Pena, Willie (November 4, 2015). "Need a Scholarship? There's an App for That! Interview with Scholly Founder Christopher Gray". Teens Wanna Know. Retrieved April 30, 2021.
  2. ↑ Love, Katherine (September 29, 2017). "How To Get A Graduate Degree Without Financial Insecurity". Forbes. Retrieved April 30, 2021.
  3. 1 2 Weiner, Eric (December 2016). "Christopher Gray's Scholly App Is Bringing Millions of Dollars to College Students in Need". Smithsonian Magazine. Retrieved April 30, 2021.
  4. 1 2 Feloni, Richard (February 22, 2015). "Inside the 'Shark Tank' fight that caused 3 investors to storm off the set". Business Insider. Retrieved April 30, 2021.
  5. ↑ "9 Years After His Shark Tank Splash, Christopher Gray Updates Scholly's Progress". Forbes. March 19, 2024. Retrieved November 30, 2025.
  6. ↑ Field, Anne (August 9, 2023). "Sallie Mae Acquires Scholarship App Scholly". Forbes. Retrieved October 24, 2023.
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