Unacademy is making a tiny acquisition — buying out the Twitch of India, Rheo TV, for about $10 million.
Started by two ex-Unacademy folks — the platform basically helps college students and professional gamers make some $$ by live streaming gameplays, incentivized based on follower count and tournament performances. Over 20,000 professional streamers use the platform, streaming 100+ games.
While it's unclear why Unacademy is after the platform, we’d guess it has something to do with interlacing gaming and curriculum through interactive exercises. Or, plainly acquiring control of as much of “student time spent” as possible.
Key insight —India’s nascent gaming ecosystem is growing fast, up 40% last year to about $930 million in spending, expected to top $10B+ by the end of this decade.