Mumbai: Unacademy today announced the acquisition of Rheo TV, a platform that helps professional game streamers livestream their gameplays and monetize those feeds. As part of the deal, Unacademy will fully acquire Rheo TV, and enable the exit of all existing investors.
Existing investors Lightspeed India Partners, Sequoia Capital India’s Surge, AET Fund, PhanindraSama, Founder and Former CEO of RedBus, and Mahesh Narayanan, Ex-Country Head of Google Mobile will exit fully.
Post the acquisition, Rheo TV founders SakshamKeshri and Prakash Kumar will join Relevel – an Unacademy Group company that seeks to revolutionize 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 make professional game streaming a mainstream career option in India by building an entertainment ecosystem that drives engagement and monetization. Within a year of launch, the platform amassed more than 5 million users and over 10,000 live streamers.