Graphy, an Unacademy Group company, has acquired Singapore-based community platform Scenes to enhance its offerings and expand its reach in the creator ecosystem.
“The acquisition of Scenes is a strategic move aimed at strengthening our leadership position in the creator economy,” Sumit Jain, Co-founder and CEO of Graphy, said in a statement. “Scenes has built a robust community platform for creators and this acquisition aligns with our vision of helping creators and educators build and scale their online knowledge business.”
The terms of the current transaction, including the deal size, were not disclosed.
Scenes, a community management platform, provides creators with an all-in-one solution for overseeing, moderating, and monetising their communities. Using the platform, creators can sell their digital products, organise events, and process payments.
“Scenes has been an exciting journey. We’ve partnered with a lot of large creators and businesses over the years. The Scenes product and customers could not have found a better home than Graphy,” Varun Mayya, Co-founder and CEO of Scenes, noted.
Unacademy-owned Graphy is a SaaS platform for creators and educators that helps in growing their online brand and business. By leveraging Graphy, users can launch online courses and promote them using personalised websites and mobile apps.
In 2021, Graphy acquired SaaS platform Spayee for $25 million to strengthen its position in the creator economy. Graphy was first introduced by Unacademy in June 2020 as a platform.
In April, Unacademy claimed it is on track to achieve group-level profitability this year as the company has been able to boost its group-level revenue by 26% for the calendar year (CY) 2023. Unacademy Co-founder and CEO Gaurav Munjal said Graphy has witnessed revenue growth of 68% to Rs 30 crore.
Unacademy clocked a loss of Rs 2,848 crore for FY 2022. The unicorn’s losses widened by 85% since the previous fiscal year when it reported a loss of Rs 1,537.4 crore.
