HelloPrenup Shark Tank Update | What Happened to HelloPrenup after Shark Tank?
What is HelloPrenup?
HelloPrenup is the first online platform that enables couples to write a prenuptial agreement in hours rather than months, and at a fraction of the expense of a more traditional technique.
HelloPrenup is the prenuptial agreement platform of the future for young couples.
Julia Rodgers, CEO and Co-Founder of HelloPrenup, and Sarabeth Jaffe, CTO and Co-Founder, make up the HelloPrenup team.
The platform is the first of its kind, and it intends to help every marriage succeed by encouraging communication and financial openness.
The HelloPrenup platform is really simple to use. Users must first register a HelloPrenup account and invite their fiancée. Following that, students are supposed to complete a questionnaire.
Who is the founder of HelloPrenup?
Rogers is an attorney who specializes in family law. Jaffe is the company’s cofounder and CTO; she has a strong technical experience, including a time at Microsoft.
They want a low-cost and straightforward method for couples to form their own prenuptial agreements while still having the option of paying a lawyer.
Rogers believes that the platform will allow the soon-to-be married pair to be more involved.
HelloPrenup costs its clients $599, which is much less than the standard $5,000 price imposed by lawyers.
Prior to downloading the completed agreement, the online charge must be paid. If a couple wants to engage an attorney to examine the documents, they may simply change the word document.
Rogers believes that prenuptial agreements strengthen relationships by putting spouses on the same financial page from the start.
What Happened to HelloPrenup at Shark Tank pitch?
In Shark Tank episode 1307, Sarabeth Jaffe and Julia Rogers present HelloPrenup, an online prenuptial agreement platform. Rogers and Jaffe are looking for a Shark to help them expand their firm.
Sarabeth and Julia enter on Shark Tank as brides seeking $150,000 for a 10% stake in their firm, which worth $1.5 million.
They discuss every aspect of wedding planning. They fling away their flowers and veils as they turn their backs on the Sharks.
The market is worth $550,000. Julia describes how she came up with the idea for the company while working as a family law attorney.
Julia welcomed her on board as a “technical partner” in March 2021. Since then, they’ve been working on the company through Zoom. They met in person for the first time the night before they recorded their episode.
She paid for it herself. Sarabeth was brought on board to help with the repairs. The company was founded in March of 2020, which is not a suitable time to establish a wedding-related firm. Because to their software troubles, they have $20,000 in lifetime sales.
They estimate $4.1 million in sales by 2021, which both Mark and Robert see as a pipe dream. Lori wants to know how much it costs: $599.
The average traditional prenuptial agreement is $5000. Mr. Wonderful wants to know how much it costs to acquire new customers. Sarabeth claims that they are now overpriced and unprofitable.
She also claims that they are a technology firm and that their website is the most popular provider of prenuptial agreements online.
Kevin claims that he can’t value the firm since he doesn’t know the cost of client acquisition; he’s out.
Lori thinks what they’re doing is brilliant, but it’s “too early,” so she also exits. Mark believes they can build a solid business, but there are too many challenges for him, therefore he goes out.
People who genuinely a Prenup will still need go to a lawyer, while the remainder will go to their website for information, according to Robert, and he’s out.
Julia argues why millennial want pre-nups but don’t want to go to a lawyer to get them. According to Nirav, there are two ways to start a technological company: obtain a lot of venture capital money or be scrappy. He adores the ladies and believes there is a demand for their services.
He offers $150,000 in exchange for 30% ownership of the company. They respond with a 20% stake in the company. Nirav claims he’ll take a 25% stake in the company.
Julia asks Kevin if he wants to join in. Kevin says he’ll join with Nirav, but at 30% equity, they take the offer and leave the pitch with a deal.
What Happened to HelloPrenup after Shark Tank?
HelloPrenup issued a press statement the Monday after the intended air date, announcing their relationship with Kevin and Nirav.
Given that Rogers is a lawyer, ”They believe this suggests the deal is complete.” According to the press release, they intend to utilize the funding to grow beyond the 18 states they presently serve.
After the show the deal with Nirav, Kevin and HelloPrenup was completed. Their Shark Tank participation increased online traffic from 2800 visits per month to over 30,000 visitors per month. Following the initial air date, sales surged by 545 percent.
The women said they’ll use some of their Shark money to hire lawyers to conduct legal study on how to expand to new states. As of January 2022 the company is still in business.
Net Worth of HelloPrenup
The company valuation was $1.5 million during the pitch after Nirav and Kevin investment the company valued at $500,000.
Since then the company is still operating and hence the company net worth might have increased.
What is HelloPrenup?
HelloPrenup can be considered as a breakthrough in prenup agreements. The firm provides an online platform for its users to create, customize, and complete their prenuptial agreements. What distinguishes them from the rest is their alternative solution that makes the agreement accessible to everyone.
Who is the inventor?
Julia Rogers and Sarabeth Jaffe are the co-founders of HelloPrenup. They designed the platform and created an online tool that enables couples to create, customize and complete their agreement independently. The founders hold a bachelor’s degree in business administration from Drexel University.
How much were they asking on Shark Tank?
They were asking for $150,000 for a 10% stake in the company.
How much did they get?
They got $150,000 for a 30% stake in the company from Nirav and Kevin, which is now worth $500,000.
Is HelloPrenup still in business?
HelloPrenup is still in business as of January 2022.
How do I know about this company?
HelloPrenup is available on the web and through mobile devices. Users can download the HelloPrenup agreement after making an account on hello-prenup.com.
What do HelloPrenup Do?
The company offers a convenient and inexpensive way of creating prenuptial agreements; they allow users to reach a mutual understanding and protect themselves against future conflict between spouses.
How long does it take to get a HelloPrenup?
If users intend to engage an attorney to negotiate and create their HelloPrenup, the process of writing, negotiating, and signing should take 3-6 months. When they use HelloPrenup to write a prenup, user may do so as soon as they desire, in as little as a few hours!
How much is a simple HelloPrenup?
The average cost of a normal prenuptial agreement established by an attorney is $2,500 per fiancé. A prenuptial agreement with HelloPrenup costs just $599 per couple.
Can the HelloPrenup document be edited after download?
Yes! Their prenuptial agreement will be downloaded as a Microsoft Word document that users may alter.
If users decide to employ an attorney after downloading the HelloPrenup agreement, their attorney may quickly alter it to address their concerns and meet their individual circumstances.
What is the net worth of Julia Rogers?
The net worth of Julia Rodgers is no available.
What is the net worth of Sarabeth Jaffe?
The net worth of Sarabeth Jaffe is not available.