My Therapy Journal Update

My Therapy Journal Update | Shark Tank Season 1

ByAndrew Smith

Alexis and Rodolfo Saccoman created My Therapy Journal to address the need for accessible and secure online therapeutic services. This solution arose from their diverse backgrounds in therapy and marketing, allowing them to leverage their skills to offer a unique, data-driven journaling platform. In our My Therapy Journal update and pitch recap, let’s see what happens between the sharks and the entrepreneurs.

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

Alexis and Rodolfo entered Shark Tank Season 1 to pitch My Therapy Journal, seeking $80,000 for 20% equity. After their pitch, they reached an agreement with Robert Herjavec and Kevin O’Leary for $80,000 for 51% equity.

In terms of a My Therapy Journal update, unfortunately, the company closed its doors shortly after the episode aired, and the brothers pursued different career paths.

SharkResult
Robert Herjavec and Kevin O’LearyAccepted offer of $80,000 for 51% equity
Daymond John$120,000 for 50% equity
Kevin HarringtonNo offer
Barbara CorcoranNo offer

Shark Tank My Therapy Journal Pitch

Shark Tank 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

Alexis and Rodolfo captivated the sharks with their heartfelt story and innovative platform, My Therapy Journal.

They wanted to expand the platform, which helps users track moods, set goals, and securely record their thoughts and feelings.

My Therapy Journal is an online platform designed to support mental well-being through journaling.

It allows users to securely record their thoughts, feelings, and experiences while tracking their moods over time.

By visualizing emotional patterns, users can gain insights into their mental health. The platform also offers additional resources, such as articles and exercises to enhance self-care.

Essentially, My Therapy Journal provides a safe and supportive space for individuals to reflect, understand, and improve their emotional well-being.

Depending on the chosen billing model, users incur a monthly fee ranging from $7.95 to $14.95. 

Rodolfo elaborated that they had amassed over 1,000 registered users, of which approximately 120 were actively enrolled in a payment plan.

However, annual sales totaled a modest $4,000, a figure that failed to impress the sharks.

Barbara Corcoran bowed out due to the low sales, and Kevin Harrington followed suit.

Alexis then revealed that they were in discussions with the major insurance provider, Aetna. This news piqued the remaining sharks’ interest.

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 then offered $120,000 for 50% equity. The brothers countered Kevin and Robert with an offer of 49% equity.

After some back and forth, they accepted the original offer of $80,000 for 51%.

Keep reading our My Therapy update to find out what happened next for their company.

Shark Tank My Therapy Journal Update

Our research into the My Therapy Journal update revealed that the deal with Robert Herjavec and Kevin O’Leary never closed.

Shortly after their episode aired, the brothers eventually shut down the company in December 2009.

After shutting down the business, our My Therapy Journal update found that the founders pursued separate paths. 

Alexis Saccoman became a Program Director for IThrive and established a private practice as a psychologist.

Meanwhile, Rodolfo Saccoman shifted his focus to his own successful startup, AdMobilize.com. Sadly, Alexis passed away in 2018.

This will be our final My Therapy Journal update.

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

Before you go, check out our Shark Tank Season 1 page for more updates

Website |  + posts

Andrew is a lifelong fan of Shark Tank and an entrepreneur at heart. He started Shark Tank Recap because he wanted a single place to track what happens to the companies, founders, and deals after they air on TV. With a sharp eye for business insights and a passion for all things Shark Tank, Andrew makes sure every recap is accurate, engaging, and fun.