Christopher Gray Updates Scholly 9 Years After Shark Tank Debut

Christopher Gray, the creator of the scholarship app Scholly, recently returned to the TV show Shark Tank after nine years, as reported by Forbes. 

The update highlighted Scholly’s achievements and included important scholarship announcements.

“We’re thrilled to be back on the show,” said Gray, reflecting on Scholly’s journey since its inception. 

Last year, SLM Corp, also known as Sallie Mae, acquired Scholly’s main assets for an undisclosed amount. The app has since been rebranded as Scholly by Sallie.

The Shark Tank update was filmed at Bayside High School in Queens, NY, where Daymond John, a Shark Tank judge and Scholly investor, awarded $10,000 scholarships to seniors Giselle Rodriguez and Amir Theodile.

 These scholarships are backed by the Sallie Mae Fund, the charitable arm of Sallie Mae.

Donna Vieira, EVP and chief commercial officer at Sallie Mae, announced a $1 million commitment from the Sallie Mae Fund to the Thurgood Marshall College Fund.

 The Bridging the Dream Scholarship Program aims to assist students from underserved communities by addressing financial obstacles that often hinder graduation.

Gray’s inspiration for Scholly came from his own experience as a scholarship recipient, securing $1.3 million to attend Drexel University.

 Leveraging his insights, Scholly has helped over 5 million users access private scholarship opportunities and has generated $30 million in revenue since its inception.

Gray’s initial Shark Tank appearance faced scepticism from some judges about the project’s philanthropic nature. 

However, John and fellow investor Lori Greiner recognized its potential, investing $40,000 for a 15% stake in the company.

John emphasized the impressive return on his investment and the company’s success. Gray’s journey from scholarship recipient to entrepreneur exemplifies the transformative impact of education. 

His dedication to providing opportunities for fellow students continues to drive Scholly’s mission of accessibility and opportunity in higher education.