Notehall Shark Tank Update (Season 1)

DJ Stephan and Sean Conway, both college students, asked the Sharks for $90k for 10% equity at a $900k valuation after entering Shark Tank Season 1 Episode 8. This company was founded in 2007.

When Sean was struggling in class, he consulted a doctor and then came to know that he was suffering from ADHD. Sean and Stephan partnered and launched the Notehall website where students can buy and sell notes.

These two young entrepreneurs accepted Barbara Corcoran‘s offer of $90,000 for 25%. Although Mr. Wonderful and Robert Herjavec also provided the same offers, the founders refused to accept their offers. In 2011, this company was acquired by Chegg Inc.

What Is Notehall?

Notehall is an online class note & Study Guide buying and selling platform where students can sell and buy their notes. The platform received a commission on every purchase. Any student who comes to buy the notes will see a 30% preview after which they will decide to buy.

Initially, the website was launched at Arizona State University and Kansas State University, which led to a 40% increase in student participation.

Company NameNotehall
FounderDJ Stephan and Sean Conway
Founded2007
ProductOnline Class Note & Study
Asked For$90k for 10% equity
Final Deal$90k for 25% equity
SharkBarbara Corcoran Barbara Corcoran
Episode (Shark Tank USA)S1 E8
Air DateOct 6th, 2009
Business Statusacquired by Chegg Inc
WebsiteVisit Website
HeadquartersSan Francisco, California, USA
Lifetime Worth (Sales)$10M *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

Who Is The Founder Of Notehall?

Both DJ Stephan and Sean Conway are co-founders of Notehall and they started this company in 2007. Stephan has become the co-founder and board chairman of Streamline Company in 2022. Sean is currently the founder of Conway Visionary Ventures.

How Was The Shark Tank Pitch of Notehall?

Stephan and Sean, both college students, after entering Shark Tank, asked the Sharks for $90k for 10% equity of their company. They provide a 100% money-back guarantee if the student is not satisfied with the notes.

5,900 credit card transactions have been done in 8 months and the revenue in this has been $30,000. The average transaction is $4. The platform holds 60% of every transaction and note givers get 40%.

Kevin Harrington and Daymond John refused to invest in this business. Sean said that they are going to generate $24 million in revenue in 4 years. Kevin O’Leary offered $90k for 51% equity. Barbara Corcoran offered $90k for 50% equity.

Sean countered $90k for 15% equity with a condition that if the company’s revenue did not reach $1 million in two years, they would give their shares to the investor. Kevin offered another $90k for 35% equity. Barbara offered another $90k for 25% equity.

Robert Herjavec offered $115k for 35% equity. So Kevin matched Robert’s offer. Robert & Kevin team up and offer $90k for 25% equity. Stephan and Sean accepted Barbara’s offer.

Sharks Offers list!

SharksOffers
Barbara Corcoran Barbara Corcoran$90k for 50% equity (#1)
$90k for 25% equity (#2)
Kevin O'Leary Shark Tank Profile Kevin O’Leary$90k for 51% equity (#1)
$90k for 35% equity (#2)
$90k for 25% equity (#2) (Robert)
Robert Herjavec Robert Herjavec$115k for 35% equity (#1)
$90k for 25% equity (#2) (Kevin)
Daymond John Daymond JohnNo Offer
Kevin Harrington Kevin HarringtonNo Offer
Founder’s (Countered)$90k for 15% equity
Final Deals$90k for 25% equity

What Happened To Notehall After Shark Tank?

Notehall gets a deal in Shark Tank. Barbara Corcoran invested $90,000 in this company for 25% equity. Within 4 years, this company generated sales of millions of dollars, and in 2011, Chegg acquired this company.

The amount has not been disclosed yet but according to the Form D, Notehall has received $3.7 million in equity. Now we have stopped following this business.

Notehall Shark Tank Update

After this episode of Shark Tank aired, Stephan and Sean received many offers and their business also increased. They had earned millions of dollars before selling the company. In 2011, Chegg acquired this company and now the founders are doing different businesses.

What Is Notehall’s Net Worth?

Notehall’s net worth is estimated at $0 million. Chegg.com acquired this company in 2011. Chegg is an American education technology company that provides services related to education.

Annual Revenue by Years

Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.

YearsAnnual Revenue
2007-11$10M *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2009$90kBarbara Corcoran
2011N/AChegg Inc

Is Notehall Still In Business?

Notehall company has been acquired by Chegg Inc. The founders worked at Chegg for the first few years but are now doing separate businesses.

The official address of this company was San Francisco, California, United States.

No, Notehall was acquired by Chegg Inc. in 2011.

frequently asked questions

Who founded Notehall?

Notehall was founded by DJ Stephan and Sean Conway.

Did Notehall get a deal on Shark Tank?

Yes, Notehall gets a deal on Shark Tank.