Holding a wedding during a pandemic is challenging. But we can’t miss the chance to experience the wedding vibe on our special day. Then how do we gather people who lived distance? So the solution is Virtual weddings. If you are interested to gather guests to your weddings even they are physically absent at the venue you should know ‘Wedfuly’.
Read what happened to Wedfuly worth and net worth update in brief here.
What is Wedfuly?
Wedfuly is a virtual wedding service that helps to plan weddings online to save money. It had partnered with Zoom to provide the service. Production could be done remotely or Wedfuly team will join the site for filming.
The program included virtual reception tables, toasts, and even group dance parties except for the actual wedding ceremony. Not only the virtual Weddings they plan “traditional” weddings too.
Who is the founder of Wedfuly?
Caroline Creidenberg is the founder and the owner of the Wedfuly company. She is a software engineer and graduated from Denver University Clarion.
What happened at the SHARK TANK?
Caroline enters Shark Tank in the hope of $200,000 for 5% equity for her business. She explained to the sharks how amazing it is to hold a wedding. Then she told them how she got the idea after the covid 19 pandemic affected the whole industry. She had brought a cake and even had a toss with the Sharks.
But Daymond John decided not to invest immediately after her explanation. His idea was that people will go back to in-person traditional weddings after the pandemic completely ends. Mark Cuban shares the story of his brother’s wedding streamed through his streaming service.
Robert Herjavec on the other hand showed some interest even he also criticized the customer base after the pandemic. Then Caroline described how they have done 700 weddings since 2020. Not only that the Wedfuly doing 30 weddings a day impressed the Sharks.
Kevin O’Leary seems to have been interested and Daymond asks about the sales even he was not investing. Caroline explained to them how they earn $ 1 million while getting 75% of the profit. Apart from that Caroline owns 100 % of the company impressed them.
Hearing all of these Kevin offers $200,000 for a 20% stake but Caroline wanted to reduce it to 10%. But Mark and Lori Greinier decided to drop out of the deal. Mark thinks there is a scaling issue in the business and Lori isn’t a fan of the field even she appreciate Caroline. But finally, Robert snatched the deal offering of $200,000 for 10%.
Wedfuly SHARK TANK UPDATE
Both sides have yet not confirmed the state of the deal but are said to be under due diligence. But soon after the official air of the show Caroline and the Wedfuly team stated that they would do an info session weekend long.
Since the company started in 2017 it had earned $700,000 with a $100,000 profit in 2020. It offers initial free consultation and prices were ranging from $700- $2000. The average assumed resume for the customer is $1500. It gives them 75% profit and they had earned $ 1milion with $300,000 profit in 2021.
Not only that Wedfuly had appeared in The New York Times, Vogue, Brides Magazine, and today before appearing on the Shark Tank. Due to this pre gained popularity rose after the Shark Tank 2022 wedding dates filled more quickly than ever. According to their site, the company is still in business with more customers.
What happened to the Wedfuly after the Shark Tank?
According to the Wedfuly official site, the company is still in business in 2022. The Wedfuly team gained more attention after the weekend information session soon after the show. But the deal is still under due diligence.
Not only that Caroline gets a chance to get an interview with her alma mater Denver University Clarion after the Wedfuly Shark Tank. She explained that having Roberts support as an entrepreneur is an amazing opportunity. She was great full for his mentorship during the process.
The Wedfuly Net Worth in 2022
The company was worth around $4 million at the time it appeared in Shark Tank. Also, Wedfuly able to get an investment of $2 million during the show.
According to the official sites the company is still in business and sales are soaring. So their net worth should be increased after the show.
Competitors of Wedfuly
There are few companies in the market with the same service like Wedfuly. Among them, Live Stream Bride plays a major role. It also provides wedding live stream services like Wedfuly.
Caroline Creidenberg is the founder and the CEO of the brand Wedfuly.
It is a wedding planning service that helps people to hold virtual weddings on a low budget.
Yes, it did. Robert Herjavec invested $ 200, 000 for 10 % of shares.
The company is still in business in 2022 and had gained more customers after the show.
The net worth of Wodfuly is yet not revealed. But it might be more than $ 4million as the company gained more attention after the show.