What Happened To Hello Prenup After Shark Tank?

Hello Prenup is an online platform that simplifies the process of creating prenuptial agreements without the need for a lawyer. The platform allows couples to outline the distribution of their assets and property, ensuring clarity in the event of a divorce.

How to Complete a Prenup Agreement:

1. Create a Hello Prenup Account: Invite your fiancé to join.
2. Complete Questionnaires: Both partners fill out their respective questionnaires.
3. Negotiate Terms: Couples can discuss and negotiate the terms of the agreement.
4. Generate the Prenup: Use the platform to create the prenuptial agreement.
5. Sign and Notarize: Once finalized, both partners sign and notarize the agreement.

The cost for the prenuptial agreement is $599 per couple. The agreement includes detailed information about income, property, and assets, providing peace of mind for both partners.

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Who Is The Founder Of Hello Prenup?

Sarabeth Jaffe and Julia Rodgers are the co-founders of Hello Prenup. Sarabeth is a software engineer with extensive experience, having worked with Microsoft, Unloop, and Karat. Julia is a lawyer who has served as a divorce attorney at Mavrides Law for eight years.

Together, they leverage their diverse backgrounds and expertise to create a simple and affordable method for couples to establish prenuptial agreements. Their platform aims to make the prenup process more accessible and less expensive for individuals looking to protect their assets.

How Was The Shark Tank Pitch Of Hello Prenup?

Sarabeth Jaffe and Julia Rodgers entered Shark Tank seeking $150,000 for a 10% equity stake in their online prenuptial agreement platform, Hello Prenup. The duo pitched their product while wearing wedding dresses, which brought some humor to the pitch.

Sarabeth explained that they had completed 25 prenups on their platform, attributing the low number to software issues.

The pandemic in 2020 had also significantly impacted the wedding industry, further hindering their progress. They reported a lifetime revenue of $20,000 and projected $4.1 million in revenue for 2021, highlighting the $550 million market potential for prenups.

Despite their ambitious projections, Robert Herjavec and Mark Cuban expressed skepticism, describing their revenue expectations as unrealistic.

Kevin O’Leary pointed out their lack of clarity regarding customer acquisition costs and declared that he could not justify a valuation of $1.5 million to $10 million for the company, ultimately opting out. Lori Greiner also deemed it too early for investment.

Nirav Tolia, however, showed interest and offered $150,000 for 30% equity. Julia, who had invested $130,000 of her own money, countered with an offer of $150,000 for 20% equity.

Nirav countered with 25% equity, while Kevin O’Leary expressed his willingness to join but requested 15% equity. In the end, both Nirav and Kevin teamed up to make an offer of $150,000 for 30% equity, which Sarabeth and Julia accepted.

Finalize: Nirav Tolia and Kevin O’Leary Invest $150K in ‘Hello Prenup’ for 30% equity.

What Happened To Hello Prenup After Shark Tank?

After securing investment from Nirav Tolia and Kevin O’Leary, who collectively took a 30% equity stake in Hello Prenup, the company saw significant growth and expansion.

Nirav, a tech expert with a vast database, and Kevin, with his experience in the wedding industry, contributed valuable insights and resources to help the platform thrive.

Following their appearance on Shark Tank, the positive feedback on Twitter indicated that many users considered Hello Prenup a brilliant business idea.

Initially serving only Massachusetts, the platform expanded its prenuptial agreement services to over 32 states, including Arizona, California, and Florida. They also began offering international prenuptial agreements, subject to specific terms and conditions.

These Hello PreNup ladies on #SharkTank are brilliant! They’re not wrong. I know tons of millennials who would be so on this. My stepdaughter and her husband still split so many things. They have joint and separate checking and savings accounts.

@DafuqRUwearing

In addition to O’Leary and Tolia, Brian Liu, the co-founder of LegalZoom, became an investor and advisor to Hello Prenup. This collaboration helped to solidify the company’s credibility and reach.

Remarkably, after the Shark Tank episode aired, Hello Prenup experienced a 500% increase in sales, which surged from $20,000 before the show to $3 million by 2023. Sarabeth Jaffe and Julia Rodgers projected the company’s value to exceed $22 million that year. They also began providing guides related to finance and asset management for couples.

The success of Hello Prenup was further highlighted in the segment update aired during Shark Tank Season 15, Episode 16. The company also formed a partnership with Suffolk Law School, reinforcing its commitment to legal technology in the prenuptial space.

We will continue to follow Sarabeth Jaffe, Julia Rodgers, and the ongoing developments at Hello Prenup for further updates.

What Is Hello Prenup Net Worth?

Before their appearance on Shark Tank, Hello Prenup was valued at $2.5 million. However, they secured a deal worth $535,000 on the show, despite facing initial skepticism from the sharks due to their low sales rate.

Yes, Hello Prenup is still in business as of March 2024.