Chris Gray, founder of Shark Tank-backed student aid app Scholly, is suing acquirer Sallie Mae for wrongful termination and alleges the company is improperly selling student data. Sallie Mae denies the claims and intends to contest the lawsuit. The case highlights tensions between startup founders and corporate acquirers post-acquisition.
Background
Scholly is a student scholarship matching app that gained fame after appearing on Shark Tank and securing investment. Sallie Mae is a major U.S. student loan provider that acquired Scholly to expand its educational services.
- Source
- TechCrunch
- Published
- Apr 28, 2026 at 11:33 PM
- Score
- 5.0 / 10