Newly engaged couples are seeking more prenuptial agreements than ever before, but the process is awkward, involved, and expensive. Divorce lawyer and software engineer Julia Rodgers and Sarabeth Jaffe are working together to create a cheaper, faster solution that is still legally binding. Will the sharks say “I do” to this deal? Find out in our Hello Prenup update after airing on
Shark Tank Hello Prenup Update
- Entrepreneur: 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. It may take months to get a prenup the traditional way. Julia Rodgers and Sarabeth Jaffe came together to fix the problem. The result is 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 sharks don’t like these numbers, but that isn’t going to stop the entrepreneurs from driving a hard bargain.
The entrepreneurs say that they are projecting $4.1 million this year, but the sharks 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, but this service can do it in hours at just $599, which makes 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, but they try their best to stop him. When they get to Nirav Tolia’s opinion, he 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 at 25%, and the rest of the sharks are left wondering why they aren’t taking the deal. It’s a great deal considering their numbers.
Instead of accepting this deal, Sarabeth and Julia ask if another shark will go in with Nirav for that much equity. It’s right in Kevin’s wheelhouse and he eventually relents and says that he’ll go in at a 15-15 split with Nirav, which means that they’ll still be giving up 30% of their equity.
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.
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