Why did Graphy acquire the Avalon Scenes app? And at what valuation?
Avalon Scenes is a community platform run by Varun Mayya along with his founders. In the last few months the founders have been heavily doing podcasts and content creation.
Yesterday they announced that they sold the app to Graphy from Umacademy. What's the reason? What's the valuation they were sold? Any insight?
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They acquired the company for an amount that's lesser than most SPM salaries. They've done it to compete with Rigi, which is finding traction in creating community engagement for creators.
GM wanted a new toy, his team found him.
They acquired the company for an amount that's lesser than most SPM salaries. They've done it to compete with Rigi, which is finding traction in creating community engagement for creators.
Unacademy founders are angel investors in Avalon and they got it for free