Everything is beautiful about marriage except the prenuptial agreement. Hello Prenup was built to make things easier. This legal tech company was founded by Sarabeth Jaffe and Julia Roberts.
If you are an avid viewer of Shark Tank, then you have probably seen the founder duo pitching their company on the show. For those who are curious to know, the current estimated net worth of the company is around $1.5 million. That being said, let’s find out what happened to the company after the Shark Tank episode.
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Know the Founders
Hello Prenup was born as a result of the joint effort by founders Sarabeth Jaffe and Julia Rodgers. The latter handles the legal aspect of the company while the former takes care of the technical part.
Julia comes from a lawyer background in Boston, Massachusetts. Like her family members, she also studied law and acquired her degree from Suffolk University Law School. She also attended entrepreneurial classes at Simmons University. Before becoming a company owner, she worked at some established firms. She served as a divorce lawyer at Mavrides Law Boston.
On the other hand, Sarabeth is a software engineer from Seattle, Washington. She completed her graduation in computer science from Rensselaer Polytechnic Institute. Before co-founding Hello Prenup, she worked for companies like Karat, Microsoft, and Unloop.
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Founding Hello Prenup
Over the years, Julia dealt with numerous clients about what they wanted from their prenuptial agreement. This inspired her to start an online platform where clients could get their prenuptial agreement ready in just a few hours, instead of months.
Julia teamed up with Sarabeth and launched Hello Prenup in 2021, with the hopes of conquering the market.
The usual cost of a prenuptial agreement is somewhere between $2500 and $10,000. But Hello Prenup charges only $599.
Unfortunately, the company faced a rocky start due to software issues. As a result, they couldn’t a lot of sales.
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What happened on Shark Tank?
Julia and Sarabeth pitched their company on season 13 of Shark Tank. They came on the show to seek help to grow their company. Their offer was 10% equity for $150,000. The valuation of the company was extremely high compared to the sales they made.
As expected, the Sharks didn’t like their proposal. Kevin O’Leary was the first Shark to back out, followed by others, except Nirav Tolia. He proposed a counteroffer of 30% for $150,000. The deal was later joined by Mr. Wonderful. In the end, the deal was split between two Sharks.
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After the airing of the Shark Tank episode, the company sales increased by 600%. It quickly became the best online platform for prenup information. They were also featured in top publications such as Forbes and CNN.
Appearing on Shark Tank changed the fate of the company positively. The estimated net worth of Hello Prenup in 2023 is around $1.5 million and is expected to increase more. Brian Liu, founder of LegalZoom also invested in the business.
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