Savy Shark Tank Net Worth 2023
Savy had a net worth of 1 million USD before appearing on Shark Tank, but the business failed to attract larger clients and eventually went out of business in 2018. Since then the website and social media have gone dark and the app is no longer available in the app store.
What Is Savy? Who Is the Founder of Savy?
Savy, along with its primary product Savy Sales, collaborates with businesses to help them get rid of outdated or slow-selling inventory.
Facilitating direct interaction and negotiation between the buyer and seller, it allows companies to maintain their reputation while improving customer satisfaction by coming to a mutually agreed-upon price.
Disha Shidham developed the Savy app (formerly known as Tac Board) during her high school years. Being a millennial herself, she recognized that this generation constitutes a significant portion of the US population but has limited purchasing power.
Through Savy Sales, businesses can offer their products to bidders who can input the price they are willing to pay without any discounts. If the seller agrees, they can accept the offer, or decline it if they choose to.
This approach enables the company to clear its inventory without resorting to heavy discounting, while also ensuring fair earnings. Additionally, Savy Sales has a positive impact on the online traffic of the merchant.
In 2014, Disha’s source of inspiration became the foundation for her business. She participated in the Quarter Zero Catapult Incubator Programs, driven by her curiosity and passion to pursue her dreams.
Disha enrolled in various startup incubators such as Rev1 Concept Academy, Droper, and University Entrepreneurial Students to further develop her skills.
Disha was more confident and trusted in her business than in her education. As a result, she chose to pursue an electrical engineering degree from the University of Michigan. Her hard work and passion for the business led to Savy being partnered with 1,000 stores and a couple of thousand registered users.
Disha hoped for a chance to present her business idea to the Shark Tank investors.
What Happened to Savy at Shark Tank Pitch?
Disha appeared on the show seeking an investment of $100,000 in exchange for a 10% stake in her company. During her presentation, she demonstrated her app on a large screen for the Sharks.
Disha informed the investors that her app had already been adopted by 1000 stores and had attracted around 2000 users. She attributed her success to her ability to leverage social media to connect with both stores and customers.
Despite her compelling pitch, Mark Cuban, Kevin O’Leary, Robert Herjavec, Lori Greiner, and Daymond John all declined to invest in Disha’s business due to her unwavering focus on her company at the expense of her education. Unfortunately, no deal was struck between Disha and the Sharks during the show.
What Happened to Savy after the Shark Tank?
In 2018, Savy ceased operations after its failure to secure a business deal with investors from Shark Tank, as the app couldn’t attract significant clients. As of 2021, the website and social media accounts are inactive, and the app is unavailable on app stores.
Competitors of Savy
Neon, Younited Credit, Empruntis, and LexinFintech are among Savvy’s main competitors.
The net worth of Savy
The company netted $1 million in 2018.
Savy Shark Tank Update
Savy is an online platform that helps connect consumers with affordable products. The founder, Disha Shidham, came onto Shark Tank Season 9 to sell 10% equity in her company in exchange for $100,000.
However, the sharks were not interested in investing, as Shidham had only managed to bring on about 2,000 active users. Despite participating in an accelerator program and other start-up incubators/educators, Savy was unable to gather sufficient funding to get the business off the ground.
Unfortunately, Savy went out of business in 2018 as the app was unable to attract large clients. As of June 2021, the website and social media are dark, and the app is no longer available in the app store.
Savy had a net worth of 1 million USD before appearing on Shark Tank. The primary product of Savy was Savy Sales, which collaborated with businesses to help them get rid of outdated or slow-selling inventory by facilitating direct sales to consumers.
However, the app was not successful in attracting significant clients, leading to the eventual closure of the business.
Savy Shark Tank Table Summary:
|Savy’s product||Savy Sales, an app that facilitates direct sales to consumers to help businesses clear inventory|
|Savy’s pitch on Shark Tank||Asked for $100,000 for 10% equity, but no deal was made|
|Shark Tank outcome||All Sharks declined to invest, citing concerns about the low number of active users|
|Savy’s net worth||$1 million USD before appearing on Shark Tank|
|Savy’s competitors||Neon, Younited Credit, Empruntis, and LexinFintech|
|Savy’s status||The business went out of business in 2018, the app is no longer available, and social media are inactive.|
What Is Savy Shark Tank?
Savy Shark Tank is an episode of the popular TV show Shark Tank where Disha Shidham pitched her app, Savy, to the sharks. Savy is a comparative pricing app that allows consumers to save money on their purchases through cashback.
The app is designed for millennials who have high stylistic tastes but low spending power. Once a user signs up, they can browse through products, name a price they are willing to pay, and when their price is accepted, they get an email.
During the pitch, Disha Shidham asked the sharks for $100,000 for 10% equity in her company. However, none of the sharks made a deal with her.
The sharks were disappointed to hear that Savy had only managed to bring on about 2,000 active users despite having partnerships with up to 1,000 different stores.
After the show, Savy continued to operate but never took off and is now out of business In 2018, Savy was valued at $1 million.
How Does Savy Shark Tank Work?
Savy is a comparative pricing app that allows consumers to save money on their purchases through cash back. The app is designed for millennials who have high stylistic tastes but low spending power.
Once a user signs up, they can browse through products, name a price they are willing to pay, and when their price is accepted, they receive an email. To use the app, users link their bank cards to the app and begin receiving cash back on their transactions.
The app is free to use, and there are no monthly fees or hidden costs. Users can withdraw their earnings at any time with no minimum balance.
Disha Shidham, the founder of Savy, appeared on Shark Tank in season 9, episode 18, to pitch her app to the sharks. She asked for $100,000 for 10% equity in her company.
However, Savy Sales, the online business-to-consumer app that allows potential customers to barter with shop owners, never took off and is currently out of business. In 2018, Savy was valued at $1 million.
Is Savy Shark Tank Still In Business?
No, Savy Shark Tank is no longer in business. The app was unable to attract large clients and went out of business in 2018. As of June 2021, the website and social media are dark, and the app is not available in the app store.
Savy was a comparative pricing app for millennials with high stylistic tastes but low spending power. Users could browse through products, name a price they were willing to pay, and when their price was accepted, they would receive an email.
The founder of Savy, Disha Shidham, started the business when she was a senior in high school. She hoped to partner with a Shark on Shark Tank episode 917 However, the business failed to attract larger clients, and Savy went out of business in 2018.
What is their offer on Shark Tank?
Disha Shidham had asked for $100,000 in exchange for 10% of their business.
Did they get a deal?
The agreement was not reached.
What happened to Savy after the Shark Tank?
The company went out of business in 2018 after failing to find a deal with Shark Tank investors.
What products is Savy selling?
It offers an app that helps small business owners clear out their inventories by connecting them with bidders.
Can you tell us how Savy got started?
Disha Shidham founded the company when she was a sophomore in high school, while still a student at Utica High School.
She received inspiration from the Tac-Board app, which was able to allow students to share taco recipes during their time at school, and other social media apps.
In 2013, she launched an app called Tac-Board that allowed students to easily share tacos, burritos, and other food recipes on social media.
What are some examples of Savy?
One example is making smart investments or daily spending, which helps one earn more money over time.
When was the company started?
Savy was founded by Disha Shidham in 2013.
Where is Savy’s headquarters?
The company is based in Michigan, India.
What are Savy sales about?
It allows businesses to keep their dignity and attract customers by allowing both sides to interact and reach an agreement on pricing without resorting to severe discounting. It has a positive impact on the merchant’s online traffic as well.
Will Savy ever re-launch the app after the Shark Tank?
No, now defunct.
How does Savy work?
Companies will release their goods to bidders who input an amount they wish to pay without discounting.
If the merchant agrees, they can accept or deny it. It also assists the company in maintaining fair earnings without resorting to severe discounting to clear inventories.
It also has a positive impact on the merchant’s online traffic.
What is the business model?
Savy is a mobile app that is designed to benefit small and medium-sized businesses by connecting them with shoppers.
What is the most unique thing about Savy?
The Savy app is unique because it offers a platform for SMBs and bidders to reach an agreement on the price without resorting to severe discounting.
Who can join Savy?
Savy opens its membership to anyone who has a smartphone and has access to the internet.
How does it make money?
Savy gets a percentage of the sales made by both sides.
What is net worth?
The company netted $1 million in 2018.
Is Savy profitable?
No, it is not.
What are the employees doing now?
The group is no longer in business.
Where can I find Savy now?
Users can no longer find them on their websites or social media pages. Their Twitter profile states that they are apparently not functioning anymore.
Is Savy good or bad?
Savvy is good.
What is the Savy team doing now?
The group is no longer in business.
Why buy with Savy?
Savy allows businesses to keep their dignity and attract customers by allowing both sides to interact and reach an agreement on pricing without resorting to severe discounting.
It has a positive impact on the merchant’s online traffic as well.
Is it legit?
Yes, it is.
Can I get a Savy visa?
No, it is not associated with any bank or Credit Card Company.
Is Savy delivery fast?
Yes. Their order will be fulfilled within 24 hours after purchase from Savy.
Can I change my shipping address with Savy?
No, the customer cannot make changes to the shipping address after placing his order at Savvy.com.
What are their weaknesses?
The app is smartphone-based, which may limit its reach to low-income earners.
How much does Savy cost?
Savvy offers its services for free. It does not charge commissions or fees on either side of the transaction.
Is it a corporate member?
No, it is not.
What are their social media accounts?
Savy has a Facebook page and Twitter account.
How do I pay?
Customers must use a credit or debit card to pay for their purchases through Savy.com.
How do I get a discount coupon code?
Savy does not offer any coupons or discount codes on its website. However, they may offer them through their social media pages from time to time.