'Shark Tank': Robert Herjavec steals $200K Wedfuly deal from Kevin O'Leary
The wedding industry is always a market that keeps churning out profits. But having the right product is key to tapping into said profit. During the pandemic, the industry truly took a hit, but thankfully innovation swooped in to save the day. With virtual weddings now a thing, people have slowly adjusted to attending weddings online. But weddings themselves are stressful, online or in person. It's one of those things that are best left to the experts to handle so that you can enjoy your big day without any hassle or chaos. That's where Wedfuly steps in -- with a team that handles all the details on-ground and online, Wedfuly makes sure your wedding (and the live stream) goes smoothly.
Although Wedfuly has enjoyed its fair share of success, the question is, can it get Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner and Robert Herjavec to say 'I do'?
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Caroline Creidenberg, the founder and CEO of Wedfuly came on the show, hoping to score $200k for 5% in her company. As of now, she owns 100% and till date, the company has conducted 700 weddings. Having hosted up to 30 weddings on a single Saturday alone, they've made a million dollars in sale since March 2020, with an average per customer revenue of $15,000, with a 75% profit margin.
While her number seemed impressive, John was the first one to tap out, before Cuban and O'Leary swooped in. They both were interested in one thing in particular -- is Creidenberg collecting data? As O'Leary explained it, for someone like him who has multiple ventures in the wedding sector, collecting data was extremely valuable. He made her an offer of 20% for $200k, as he intended on using Wedfuly as a data feeder business.
Creidenberg countered with 10% for $200k, which she refused. Soon, Greiner and Cuban also backed out, stating that it wasn't for them. Before she could go back to haggling with O'Leary, Herjavec out of nowhere hopped on, willing to make her the exact offer she wanted -- 10% for $200k, leaving O'Leary high and dry for now.
Fans too, saw the value in virtual weddings. "I could see @wedfuly working really well for a destination wedding in which not everyone can travel. #SharkTank" tweeted a fan. "I like #wedfuly I think its dope #SharkTank" added another. Fans were just as thrilled to see Herjavec swoop in and bag the offer under Mr Wonderful's nose. "Congrats to @wedfuly! And also to Robert for punking Mr. Wonderful! #SharkTank" tweeted a fan. "Wow! @robertherjavec got the deal over @kevinolearytv in the wedding industry for @wedfuly. I like the business. #SharkTank" added another.
I could see @wedfuly working really well for a destination wedding in which not everyone can travel. #SharkTank
— Ryan Bartholomee (@RyanBartholomee) November 6, 2021
I like #wedfuly I think its dope #SharkTank
— Let me put it on ya face bueno noches. ☪️ (@CrushEgos) November 6, 2021
Congrats to @wedfuly! And also to Robert for punking Mr. Wonderful! #SharkTank
— Phil Lemos (@Phil_Lemos) November 6, 2021
Wow! @robertherjavec got the deal over @kevinolearytv in the wedding industry for @wedfuly. I like the business. #SharkTank
— Delania (@DelaniaEsq) November 6, 2021
'Shark Tank’ Season 13 airs on ABC on Friday at 8 pm ET.
Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.
