ChangEd Shark Tank Update

ChangEd Shark Tank Pitch

Daniel Stelmach and Nick Skrzyniarz appeared on Shark Tank Season 9, Episode 20, which aired on January 27, 2018, with app for paying off student loans using spare change.

ChangEd is listed in the Software Tech category. In plain terms, the business is described as app for paying off student loans using spare change.

ChangEd asked the Sharks for $250,000 for 15%, implying a valuation of about $1.7 million.

On the show, ChangEd made a listed deal with Mark Cuban for $250,000 for 25%.

If treated as straight equity, the listed deal works out to about $1 million implied valuation, down from the original $1.7 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

ChangEd After Shark Tank

ChangEd accepted Mark Cuban’s on-air deal for $250,000 for 25% equity. (ChangEd Shark Tank Blog update

After Shark Tank, the app gained tens of thousands of users and helped borrowers make extra student-loan payments through spare-change roundups. (ChangEd Shark Tank Blog update

By 2021, follow-up reporting said ChangEd had helped users pay down more than $10 million in student debt. (ChangEd Shark Tank Blog update

The company was later acquired by TabaPay, keeping the product’s student-debt-payment technology inside a payments company. (ChangEd Shark Tank Blog update

Sources

Sources used for this page: Shark Tank API pitches