- Briefing Your roundup of Asian tech and startup news that matter
Deepti Sri · · 1 min readReport: SoftBank-backed Unacademy acquires Twitch-like game-streaming firm
“SoftBank-backed edtech firm Unacademy announced the acquisition of Rheo TV, a platform that helps professional game streamers livestream their gameplays and monetize those feeds,” Business Standard reported.
Details:
- Under the deal, Rheo TV’s existing investors including Sequoia Capital India’s Surge, Lightspeed India, AET Fund, RedBus founder Phanindra Sama, and Mahesh Narayanan, former country head of Google Mobile, will fully exit the company.
- Following the acquisition, Rheo TV founders Saksham Keshri and Prakash Kumar will also join Relevel, a unit of Unacademy Group that focuses on the Indian job market.
Dive deeper:
- The development comes a month after Unacademy reportedly held discussions to acquire Rheo TV, valuing the latter at over US$10 million.
- Founded in 2019 by two former Unacademy employees, Rheo TV is a game-streaming platform that’s similar to Amazon’s Twitch. Rheo TV rewards creators based on their gameplays and follower base, among other criteria.
Editing by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
