✓ Got a deal Acquired Season 6, Ep. 20 🧸 Kids & Education

Scholly on Shark Tank

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Scholly is a mobile app that matches students with college scholarships based on their profiles, such as location, grades and background. It was designed to simplify scholarship searching and help students reduce reliance on loans.

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⏱ Scholly in 30 seconds

  1. The ask$40K for 15%Valued at $266.7K
  2. In the tankDeal: $40K for 15%With Daymond and Lori
  3. After the showNot confirmedNo public record either way
  4. TodayAcquiredAcquired by Sallie Mae (2023)

Scholly Shark Tank deal

Asked for
$40,000 for 15%
Asking valuation
$266.7K
Result
Deal
Final deal
$40,000 for 15%
Deal valuation
$266.7K
Founders
Christopher Gray
From
Philadelphia, PA
Aired
Feb 20, 2015
Asked
$266.7K
Got
$266.7K

Would you have invested in Scholly?

The pitch

Christopher Gray from Philadelphia, PA pitched Scholly in Shark Tank Season 6, Episode 20 (aired Feb 20, 2015). They asked for $40,000 in exchange for 15% equity, valuing the business at $266.7K. The entrepreneurs walked away with a deal from Daymond John and Lori Greiner: $40,000 for 15%.

Meet the founder

What happened to Scholly after Shark Tank?

Acquired Last checked November 1, 2026

Our checks

  • : Visited the official website: it is working.
  • : Updated the link to the company's new website address.

Christopher Gray started Scholly, a scholarship-matching app, while he was a student at Drexel. On Shark Tank, Lori Greiner and Daymond John put in $40,000, which set off a shouting match with the other sharks, and the site got 80,000 requests within hours of the episode airing. Wikipedia reports the app had reached 5 million downloads by early 2024. Sallie Mae bought Scholly in July 2023 and made it free. In April 2026 Gray sued the lender, alleging that he was fired for raising concerns about the sale of student data. Sallie Mae has called the claims without merit.

Timeline since the show

  1. Founded in Philadelphia by Christopher Gray and two co-founders

  2. Lori Greiner and Daymond John invested $40,000 after a heated on-air argument

  3. Acquired by Sallie Mae; the app became free

  4. Founding team reportedly laid off by Sallie Mae

  5. Gray sued Sallie Mae, alleging wrongful termination and misuse of student data; Sallie Mae denies the claims

Sources (2)
  1. en.wikipedia.org/wiki/Scholly
  2. techcrunch.com/2026/04/28/founder-of-shark-tank-backed-startup-scholly-sues-his-a…
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Frequently asked questions

Did Scholly get a deal on Shark Tank?

Yes. Scholly got a deal with Daymond John and Lori Greiner for $40,000 and 15% equity.

Which Shark invested in Scholly?

Daymond John and Lori Greiner invested in Scholly on Season 6 of Shark Tank. Note that some on-air deals change or fall through during due diligence.

Is Scholly still in business?

Scholly was acquired: Acquired by Sallie Mae (2023).

What season and episode was Scholly on Shark Tank?

Scholly appeared in Season 6, Episode 20, which first aired on February 20, 2015.

Where can I buy Scholly?

You can buy Scholly from its official website and often on Amazon.

What was Scholly's valuation on Shark Tank?

The founders valued Scholly at $266,667 when they entered the Tank, and the final deal valued it at $266,667.

Official site Amazon

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