2400 Expert SAT Prep Update | Shark Tank Season 7

Shaan Patel started 2400 Expert after struggling to find good SAT prep while getting ready for the test. Growing up in his family’s small hotel, he couldn’t afford expensive tutors, so he came up with his own study methods and got a perfect score. He then launched 2400 Expert to help other students boost their scores by nearly 400 points. Will the sharks see the value in this SAT prep program? Let’s read our 2400 Expert update and pitch recap to find out.

If you’re short on time, here’s a quick overview of what happened to 2400 Expert after Shark Tank.

Shaan entered Shark Tank Season 7, seeking $250,000 for 10% equity in his SAT Prep System. After his pitch, he secured a deal with Mark Cuban for $250,000 for 20% equity.

In terms of a 2400 Expert update, the company rebranded its name from 2400 Expert to Prep Expert in 2016. Further, they expanded beyond SAT prep, adding ACT courses, private tutoring, and college admissions consulting, while also scaling its team from 10 to 50 employees.

Shark	Result
Mark Cuban	Accepted offer of $250,000 for 20% equity
Daymond John	No offer
Lori Greiner	No offer
Robert Herjavec	No offer
Kevin O’Leary	No offer

Shark Tank 2400 Expert Pitch

• Entrepreneur: Shaan Patel
• Business: SAT Prep System
• Ask: $250,000 for 10% equity
• Result: $250,000 for 20% equity
• Shark: Mark Cuban

Shaan walked into Shark Tank with a mission to change how students prepare for the SAT.

His company, 2400 Expert, had already helped students boost their scores, but he needed an investment to expand into major cities and scale his online courses.

He started by sharing a key statistic: since 2005, 14 million students have taken the SAT, but only 0.02% (about 3,000 students) have achieved a perfect score. He was one of them.

However, he quickly clarified that he wasn’t just naturally gifted. The first time he took a practice SAT, he scored around average.

Through dedicated study, he increased his score by 640 points to achieve a perfect 2400.

Many of his students have gained admission to top universities and secured millions in scholarships. Some have even achieved perfect SAT scores themselves.

Now, he wanted to expand nationwide and needed a shark’s help to scale.

2400 Expert is a six-week course that was originally offered only in Las Vegas as an in-person classroom program.

However, six months ago, he launched online courses, which had already generated more revenue than the in-person classes ever did.

The company had generated $1.2 million in sales over four years. Also, sales had doubled each year, with half of the $1.2 million coming from the past year alone.

Kevin O’Leary acknowledged that while this might work locally in Las Vegas, scaling an online course nationally would require significant marketing investment.

He pointed out that Kaplan and The Princeton Review spend heavily on customer acquisition.

The in-person course costs just under $1,000 for 60 hours of instruction. Meanwhile, the online version, offering the same content, was $600, making it less than $10 per hour.

Robert Herjavec followed up by asking about profit margins, and Shaan revealed that from $1.2 million in revenue, the company had made $220,000 in profit.

Further, Shaan explained that because he was the face of the company, many students wanted to take his classes specifically. Therefore, he currently teaches one live class per week.

Daymond John didn’t see a clear path for significant growth, he’s the first shark out.

Lori Greiner believed that Shaan lacked a clear direction for his business, therefore, she backed out.

Robert warned that a competitor fully focused on test prep would eventually surpass him. Because of this, Robert exited the deal.

Kevin followed, admitting that Shaan was splitting his time between multiple paths, and he didn’t see the necessary drive. He dropped out.

Mark Cuban made an offer of $250,000 for 20% equity. Shaan countered, asking for $300,000 for 15% equity. Mark refused.

Shaan then asked for $300,000 for 20% equity. Mark still declined.

After some hesitation, he ultimately accepted Mark’s original offer.

Let’s see what Shaan is up to right now in our 2400 Expert update.

Shark Tank 2400 Expert Update

Our 2400 Expert update found that the deal with Mark closed successfully.

Shortly after his episode aired, in 2016, 2400 Expert rebranded to Prep Expert.

Initially focused on SAT preparation, Prep Expert expanded its services to include ACT prep courses, private tutoring, and college admissions consulting.

To support its growth, Prep Expert’s team grew from 10 to 50 employees.

Dr. Shaan co-authored the book How Any Kid Can Start a Business with Mark Cuban and young entrepreneur Ian McCue.

Prep Expert enhanced its online platform, offering live online courses and on-demand video lessons, making test preparation accessible to students worldwide.

Dr. Patel completed his MBA at Yale University and earned a medical degree from the University of Southern California.

He became a board-certified dermatologist and practices teledermatology alongside managing Prep Expert.

Our 2400 Expert update research found that, at the time of this writing, Prep Expert has helped over 100,000 students improve their SAT and ACT scores.

Many of these students have gained admission to top universities and secured more than $100 million in college scholarships.

Prep Expert now commands an annual revenue reaching $5 million.

We’re calling this 2400 Expert update a success.

To find out more about the other products featured in Season 7 Episode 15, check for our company updates below. 

• SHEFIT Update
• CO.ALITION Update
• IcyBreeze Update

Before you go, be sure to check out our list of all the Shark Tank Season 7 products.