Last into the tank is 2400 Expert seeking $250,000 for 10 percent equity.
2400 Expert is a test-prep company that helps students prepare for the SAT and ACT; created by Shaan Patel, who earned a perfect 2400 on his SAT.
According to their website, they “offer the highest average score improvement, the best instructors and double the course hours at half the price.”
Coming from humble beginnings and a love for education, he wants to help other students achieve success. The course runs for six weeks and offers online classes, originally starting as an in-person class in Nevada. They have done $1.2 million in sales.
The online course costs $599 and given their newly-offered online course, students from all over the world can enroll.
Social reactions from 2400 Expert’s appearance on “Shark Tank”:
I love first-generation American #entrepreneurs! I'm right there with you! #SharkTank
— Elisa Schmitz (@elisatalk) January 30, 2016
The founder of #2400expert is impressively smart. It just seems really hard to scale #SharkTank
— Michael Huh (@MichaelHuh3) January 30, 2016
Hey @ABCSharkTank, guess what… The SAT is changing to 1600 score this Spring. You'll need to rebrand #2400Expert. #SharkTank
— Doug-o-matic (@dougiemac) January 30, 2016
He hopes to use the money to open new locations in major cities. According to the founder, their target is the parents of high school students, rather than the students themselves.
Daymond John goes out first, followed by the sharks questioning his commitment to being an entrepreneur. For that reason, Lori Greiner goes out.
Robert Herjavec likes the idea but also worries about his lack of focus, so goes out. Kevin O’Leary cites the benefit of it being “recession proof” but also dislikes his lack of commitment. He too goes out.
Mark Cuban wonders where he sees himself in 10 years. After considering his response, he offers $250,000 for 20 percent, plus any future business ventures. He counters 15 percent, which Cuban rejects. However, he ends up taking the original offer.
Final deal: Mark Cuban for $250,000 for 20 percent equity.
What are your thoughts on 2400 Expert?
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