Good grades in college can depend heavily on good note-taking. The only problem is, not every student is great at taking notes. That’s why students D.J. Stephan and Sean Conway have created a website that empowers students with being able to sell or buy class notes and study guides. Will their company earn them a deal on
Shark Tank Notehall Update
- Entrepreneurs: D.J. Stephan and Sean Conway
- Business: Platform to buy and sell study notes
- Ask: $90,000 for 10% equity
- Result: $90,000 for 25%
- Shark: Barbara Corcoran
D.J. and Sean entered
D.J. and Sean highlighted that Notehall’s pilot programs in partnership with Kansas State University and Arizona State University were successful. They’d also had around 6,000 customers and $30,000 in sales since the website had launched.
Barbara Corcoran wondered what would happen if the notes were wrong. D.J. and Sean stated that they would refund any client for a lack of quality in content.
Kevin O’Leary thought the competition would swallow up the product, but D.J. and Sean said they were creating a platform for content providers while everyone else was focusing on paid users.
Robert Herjavec expressed his concern over the valuation of $900,000. This valuation made both Daymond John and Kevin Harrington go out, but all the sharks are unimpressed with the explanation behind this estimated figure.
Sean reacted by confidently claiming the company would be worth $24 million in four years, even staking half the company on this promise.
This confidence piqued the interest of Kevin O’Leary, who offered a deal of $90,000 for 51%. Barbara immediately followed with a deal of $90,000 for 50%, getting under Kevin’s skin.
D.J. and Sean countered Barbara’s offer and put 15% on the table with the condition that they would pay the shark their share if the company didn’t reach $1 million in sales. Kevin countered with $90,000 for 35% equity.
Barbara changed her deal and offered $90,000 for 25% equity. Robert jumped in, citing his experience with internet businesses, and offered $115,000 for 35%.
This triggered an extended bickering session between the last three sharks, which culminated in Robert and Kevin partnering up against Barbara, offering the same deal of $90,000 for 25%, but including their experience.
In the end, D.J. and Sean decided to accept Barbara’s deal, which made Kevin very upset with them. Do you think Notehall triumphed after the episode? Keep reading our Notehall update to see how the company fared.
Our Notehall update reveals that the deal with Barbara never came to fruition. The business duo partnered with Dream IT Ventures to gain access to numerous universities.
Notehall was later acquired by Chegg, in a deal that made D.J. and Sean millionaires. We’d call this a successful Notehall update!
Would you like to learn about the other companies featured on Season 1 Episode 8? 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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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!