Rumaiza and Anas Ali, the husband-and-wife team behind Wedy, brought their wedding planning app to Shark Tank in Season 15. They hoped to secure a $300,000 investment for 5% equity.
However, things didn’t go as they had hoped. Let’s explore their Shark Tank journey, the inspiration behind Wedy, the challenges they faced, and how the company has grown since then.
A Personal Pain Point Becomes a Business Idea
Wedy was born out of a personal problem. Rumaiza, an architect who became a luxury wedding planner, faced challenges while planning her own wedding. Her photographer almost double-booked her, which caused a lot of frustration.
“I always wondered if there was a better way to plan a wedding without the experience feeling like pulling teeth,” Rumaiza shared.
This frustration, combined with her experience planning luxury weddings where clients often spent more than $200K, inspired her to find a simpler, more transparent way to plan weddings.
Rumaiza noticed that the wedding industry had many inefficiencies and lacked transparency.
“I have seen way too many couples feel overwhelmed with the non-transparent processes of wedding planning: the hidden costs, filling out contact forms, comparing quotes between six different PDF proposals, and tracking payments on spreadsheets. I realized it is impossible to book a vendor, figure out their availability, and see their pricing online,” she explained.
Using these insights, Rumaiza and her husband, Anas, started Wedy to make wedding planning easier and more modern.
Early Challenges and How They Overcame Them
Starting Wedy was not easy. As an immigrant on an H4 dependent visa, Rumaiza faced restrictions that kept her from working or even opening a bank account in the U.S.
“That was my biggest obstacle. I had $3,000 to my name and a billion-dollar vision, but a visa situation that tied me down from going after my dreams,” she said.
Despite these obstacles, Rumaiza was determined. She reached out to her network in the wedding industry to share her vision for a transparent, tech-based marketplace for weddings.
At first, many people in the industry were skeptical and doubted that the wedding industry would embrace technology.
“If educators did not want a new way of doing things, how would the general audience comprehend the idea?” she wondered. But she felt these fears were simply resistance to change.
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Rumaiza and Anas conducted thorough research and user testing with over 150 wedding professionals to validate their idea. “The data spoke for itself,” she noted. This research was crucial in shaping Wedy’s features to meet the needs of both wedding professionals and couples.
The Shark Tank Pitch That Almost Changed Everything
With a clear vision and confidence in their idea, Rumaiza and Anas presented Wedy on Shark Tank. They described their app as the “Airbnb meets Pinterest” for the wedding industry.
Their platform simplifies wedding planning by bundling services like venues, florals, photography, and catering into one package with clear pricing. They asked for $300,000 for 5% equity to help Wedy expand beyond its initial seven regional markets.
During their pitch, they showcased Wedy’s unique features and growth. Since launching in 2020, Wedy had made $1.5 million in total revenue. Sales rose from $73,000 in 2020 to a projected $850,000 by the end of 2023.
However, the Sharks had concerns. Mark Cuban questioned the company’s $6 million valuation, saying the revenue didn’t justify such a high figure. Robert Herjavec and Lori Greiner doubted Wedy’s ability to grow in a competitive market dominated by big players like The Knot and Zola.
A Memorable Twist: The First Shark Tank Wedding
In an unexpected move to showcase their app’s capabilities, Rumaiza and Anas arranged a live wedding on the Shark Tank set. A couple who had used Wedy to plan their wedding was invited to get married on the show.
Kevin O’Leary, aka Mr. Wonderful, officiated the ceremony. Kevin, who is legally ordained, agreed, saying, “Bringing a man and woman together is one of the most important things Mr. Wonderful does.” This marked the first wedding in Shark Tank history and added a fun element to their pitch.
Despite the entertaining presentation and the Sharks’ enjoyment of the live wedding, none of them made an offer. Kevin O’Leary, already invested in a similar business (HoneyFund), was the last to decline.
He said, “I’m very impressed with your presentation, but I’m already in the wedding space, so I’m out.” Lori Greiner and Barbara Corcoran also opted out. They cited concerns about the early stage of the business and the difficulties of operating in multiple markets.
What Happened to Wedy After Shark Tank? Turning Challenges into Opportunities
Leaving Shark Tank without a deal could have been a major setback for Rumaiza and Anas, but they turned the experience into an opportunity. The exposure from the show led to a significant increase in app downloads and website traffic.
“The response from wedding venues and vendors has been terrific,” Rumaiza shared. She noted an “895% increase in sign-ups and a growing waitlist in the East Coast market.”
The increased visibility also caught the attention of Techstars New York, powered by J.P. Morgan. Shortly after their Shark Tank appearance, Wedy secured a $385,000 pre-seed investment from Techstars.
This funding allowed them to move their headquarters to New York City. This location gave them access to a larger market and helped them continue growing their business.
“The exposure from Shark Tank will undoubtedly bring new users to the app, some of whom will likely book wedding packages through Wedy,” Rumaiza noted optimistically.
Growth and Expansion: A New Chapter for Wedy
Since moving to New York City, Wedy has continued to improve its app and expand its reach. By the end of 2023, Wedy had helped over 700 wedding professionals earn more than $1.6 million through the platform.
Looking ahead, the company is on track to generate over $3 million in direct consumer spending across 11 destinations in four metropolitan areas in the U.S. This growth shows Wedy’s ability to adapt and succeed, even without a deal from the Sharks.
As of May 2024, Wedy’s net worth is $1 million.
Reflecting on their Shark Tank experience, Rumaiza said, “Being on Shark Tank was incredible…we were thrilled that Kevin O’Leary officiated a real-life Wedy couple’s wedding.”
She added that the feedback from the Sharks, while disappointing at first, was valuable in helping them refine their business model and focus on effective scaling.
Lessons Learned and Future Plans
For Rumaiza and Anas, Shark Tank was a learning experience. They realized the need to show clear market differentiation and profitability to potential investors.
They also understood that growth would require more than passion and innovation. It would take careful planning and constant improvement. The couple remains committed to their mission of making wedding planning easy and stress-free for all couples.
“We’re not just about getting couples married; we’re about supporting local and creative entrepreneurs who are driven by passion and purpose,” Rumaiza emphasized.
Looking ahead, Wedy plans to expand into new markets and strengthen its position as a leader in the wedding planning industry. With a solid foundation, strategic investment, and a growing customer base, Wedy’s future looks promising.
The Journey Continues for Wedy
While Rumaiza and Anas Ali did not get a deal on Shark Tank, their journey with Wedy shows their resilience and adaptability. The exposure from the show, combined with their determination and strategic changes, has set Wedy up for ongoing success.
As they continue to grow and innovate, it is clear that Wedy is on a mission to change the wedding planning industry, one beautiful wedding at a time.
If you’re planning your wedding and looking for a stress-free experience, check out Wedy’s offerings. With clear pricing and customizable packages, you can plan your dream wedding with ease. Visit their website to learn more about how Wedy can help make your special day perfect.
