Newly engaged couples are seeking more prenuptial agreements than ever before, but the process is awkward, involved, and expensive. Divorce lawyer Julia Rodgers and software engineer Sarabeth Jaffe are working together to create a cheaper, faster solution that is still legally binding. After their
If you’re short on time, here’s a quick overview of what happened to Hello Prenup after
Sarabeth Jaffe and Julia Rodgers appeared on
|Kevin O’Leary and Nirav Tolia
|Accepted deal of $150,000 for 30% equity
Shark Tank Hello Prenup Update
- Entrepreneurs: Sarabeth Jaffe and Julia Rodgers
- Business: A quick, inexpensive prenuptial agreement service
- Ask: $150,000 for 10% equity
- Result: $150,000 for 30% equity
- Shark: Kevin O’Leary and Nirav Tolia
Prenuptial agreements are more popular than ever, but they are expensive and the process is awkward. Julia Rodgers and Sarabeth Jaffe came together to fix the problem with Hello Prenup, an easy-to-use software platform that can help speed up the process and save thousands of dollars.
Sarabeth and Julia admit right off the bat that they’ve had some issues with the software, leading to them writing a total of 25 prenups. However, they have ironed out the kinks and now they are working to become profitable.
The entrepreneurs say they are projecting $4.1 million this year, causing the sharks to openly laugh at this considering how little they’ve done so far.
While their customer acquisition is higher than they’d like, a standard prenup costs over $5,000 the traditional way. This service can do it in hours at just $599, making it an enticing alternative.
Kevin O’Leary is the first one out because the numbers just aren’t there. He isn’t convinced that this is a thing yet.
It’s also too early for Lori Greiner, so she drops out too.
Mark Cuban says that he has “so many issues” with the company and that he just can’t invest.
This leaves Robert Herjavec and guest shark Nirav Tolia. Robert goes to drop out, saying that people will still go to a regular lawyer. The women attempt to change his mind, doubling down on their argument that millennials will flock to their service.
Last but not least, Nirav Tolia says that the rest of the sharks can’t see what he sees. He has the tech experience, and he’s blown companies like this up big time. He offers $150,000 for 30% equity because he believes in them.
Sarabeth and Julia don’t want to give up that much equity, so they counter for 20%. He counters back at 25%, again, because he believes in them. The rest of the sharks are left wondering why they aren’t taking the deal — it’s a great deal considering their recent numbers.
Instead of accepting this deal, Sarabeth and Julia ask if another shark will go in with Nirav for that much equity.
They focus their attention on Kevin since it’s right in his wedding wheelhouse. He eventually relents and agrees to a 15-15 split with Nirav. They’ll still be giving up 30% of their equity, but gaining two sharks.
The entrepreneurs can’t deny that having these two sharks in their corner will be perfect for them, so they accept.
Will this deal end in a messy divorce? Here’s what we found in our Hello Prenup update.
We got the chance to interview Julia and Sarabeth for our Hello Prenup update, and we are happy to share that things are going great!
“Our sales doubled in 2023,” Julia told us. “We are now projected to double or triple revenue in 2024,” Sarabeth added.
They also shared that the deal with Kevin and Nirav did go through, and they’ve been great to work with. “Their combined experiences, insights, and vast networks have been invaluable to our growth and development,” they told us.
Specifically, Kevin has been able to help with branding and marketing, while Nirav has been a great mentor and given then valuable advice on building a social network .
In addition, Hello Prenup recently added LegalZoom founder Brian Liu to its roster of advisors and investors.
Julia and Sarabeth are now working to “integrate AI systems to streamline their services” and “make the prenup process and straightforward and accessible as possible” is their goal.
It seems that they are well on their way! We’d like to thank Julia and Sarabeth for giving us a Hello Prenup update and we cannot wait to watch the company continue to grow.
If you’d like to know more about their services, be sure to check out the Hello Prenup website.
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!