JSA acts for Spayee Labs and its Founders in their sale of 100% stake to Unacademy

  • Deal
  • October 26, 2021

JSA advised and assisted Spayee Labs Private Limited (“Spayee”) and its Founders (Gourav Kakkar, Aniruddha Singh, Vijay Singh and Sandeep Singh) with the sale of 100% of their stake in Spayee to Sorting Hat Technologies Private Limited (“Unacademy”). Times Internet Limited and other existing investor of Spayee received successful exit as part of this transaction. Pursuant to this deal, Spayee team and Graphy (part of Unacademy group) aim to empower brick-and-mortar educators through digitization and build the world’s largest creator community. JSA’s role in this transaction involved providing structuring advise from corporate and tax perspective, end to end assistance on multiple transaction documents and assistance to Spayee and Founders with the logistics in relation to three back-to-back closings. JSA also advised and negotiated the terms of Founders’ engagement with Unacademy post this acquisition.

The deal value was 25 Million USD

JSA lead team comprised Partner – Kartik Jain,  Associate – Kanchan Modak, Company Secretary – Deepti Verma, Partner – Kumarmanglam Vijay, and Associate – Shiv Singhal.