My Therapy Journal Update | Shark Tank Season 1

Instead of going to traditional therapy sessions, Rodolfo and Alexis Saccoman believed they had a solid alternative to traditional therapy by creating an online system that works. Will their company earn a deal on Shark Tank Season 1? Find out in our My Therapy Journal update!

Shark Tank My Therapy Journal Update

My Therapy Journal Update

  • Entrepreneurs: Rodolfo Saccoman and Alexis Saccoman
  • Business: Online therapy journal
  • Ask: $80,000 for 20% equity
  • Result: $80,000 for 51% equity
  • Sharks: Robert Herjavec and Kevin O’Leary

Brothers Rodolfo and Alexis, entered Shark Tank Season 1 with a presentation of their company, My Therapy Journal. Their data-driven website uses software that allows users to record their feelings in a secure online journal and then tracks moods and goals over the course of time.

Users pay anywhere from $7.95 to $14.95 per month, depending on the billing model that they select. The website has only grossed $4,000 in the year prior to filming. 

One major concern for some of the sharks is that the website only has about 100 paying users, while the others are all currently on a free trial period. 

Barbara Corcoran was the first shark to drop out because she didn’t like the business idea. Kevin Harrington had the same opinion and also dropped out.

Kevin O’Leary and Robert Herjavec decided to team up and offer $80,000 for 51% of the company’s equity, contingent on securing a deal with a major health insurance company.

Daymond John jumped in and offered $120,000 for 50% equity. The brothers countered Kevin and Robert with 49% equity but after some back and forth, they accepted the original offer of $80,000 for 51%.

What happened next for their company? Keep reading our My Therapy Journal update to find out!

We have bad news to report in our My Therapy Journal update. Sadly, the company didn’t last very long after Shark Tank Season 1 aired and was shut down before the start of the 2010 calendar year.

This will be our final My Therapy Journal update.

Would you like to find out about the other companies featured on Season 1 Episode 5? Follow the links below for our other company updates from the episode.

For even more on companies and products, be sure to stop by our Season 1 Products Page!

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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!