Shark Tank: ChangEd Student Loan App Accepts Mark Cuban’s $ 250,000 Offer

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Amended

Come next Daniel Stelmach and Nick Skrzyniarz of ChangEd, seeking $ 250,000 for 15 percent equity.

Amended is an application that simplifies the repayment of student loans using coins. According to their website, their mission “is to reduce this massive debt and free recent graduates to participate in the economy in a positive way.” The application related to the borrower’s credit and debit cards and all transactions made are rounded up and the change is then sent to the loan manager. The app, which charges a fee of $ 1 per month, is available for free on the App Store.

Since March, they have recorded 9,000 downloads and they hope to reach $ 100,000 in student loan repayments by the end of the year. Mark Cuban loves the idea and the hustle and bustle of the duo, while guest shark Alex Rodriguez enjoys their mission. They earned around $ 800 last month.

Barbara Corcoran has too many worries on the banking side and walks out, followed by Rodriguez, who worries about a lack of competitive advantage. Robert Herjavec has concerns but decides to offer $ 250,000 for 48%. Lori Greiner praises what they are doing with the app but can’t seem to get past the evaluation. She goes out. Cuban is concerned about scaling the app but is offering $ 250,000 for 25%. They accept.

Social Media Responds to ChangEd’s ‘Shark Tank’ Appearance

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors known as Sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate specialist; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder / CEO of the Herjavec group.

Virgin Group Philanthropist and Founder Richard Branson, Spanx Founder Sara Blakely, Skinnygirl Cocktails and Real Housewife Founder Bethenny Frankel, Vitamin Water Founder Rohan Oza and Former MLB Player Alex “A-Rod” Rodriguez are also expected to appear as guest sharks this season.

“Shark Tank,” based on “Dragons’ Den,” is produced by Mark Burnett and debuted in 2009. To date, sharks have invested over $ 100 million in various businesses after engaging in numerous bidding wars and shark fights. A new episode airs every Sunday at 9 p.m. on ABC.

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