Notehall Shark Tank Update: Is It Still In Business?

Notehall, the brainchild of creators Sean Conway and DJ Stephan, debuted as a groundbreaking concept in 2008. Was Notehall on Shark Tank? Yes, when it appeared on the hit TV show Shark Tank in 2009, it drew the attention of a national audience. 

Notehall was an internet platform built for students to exchange instructional resources. Its purpose was to be a platform where students could exchange class notes, study guides, and other academic materials while also earning money. 

But what happened during Notehall’s debut on Shark Tank? During the Shark Tank episode, Notehall’s founders sought a $90,000 investment in exchange for a 10% equity stake in their innovative venture. Let’s get started on the Notehall Shark Tank update.

Notehall Shark Tank Profile

Here is an overview of information about Notehall.

Company	Notehall
Founded	2008
Product	A platform where you can buy and sell study material
Founder	Sean Conway and D.J Stephan
Shark Tank Episode	Season 1, Episode 8
Air Date	6th October 2009
Asked Investment for	$90,000 for a 10% share of the company
Final Deal	$90,000 for a 25% share of the company
Shark	Barbra Corcoran
Business Status	In business (acquired by Chegg)
Website	Not Found
Net worth	$4.1 Million (As of 2023)
Deal after shark tank	Not closed
Watch On	Amazon Prime Video

What Is Notehall?

Notehall was launched in 2008 by Sean Conway and DJ Stephan. These two college students had a mission to change the way students receive educational content. This revolutionary concept gave students a one-of-a-kind opportunity to purchase and sell class notes, study guides, and other academic tools. 

If you’re looking for notes on a given subject, the Notehall platform makes the process easier by allowing you to search through a large selection of subjects. Notehall is not just about enhancing your study experience; it’s also a chance for students to bolster their finances by posting and advertising their notes.

Sean Conway and DJ Stephan’s hard work and inventive approach paid off, as the platform quickly gained traction. They captured an amazing 40% of the student market in just eight months. That said, here is a Notehall update.

What Happened In Notehall Shark Tank Episode? 

During the Notehall Shark Tank episode, founders D.J. and Sean made a compelling case for their innovative platform. They emphasized the successful pilot programs developed in collaboration with prestigious institutions such as Kansas State University and Arizona State University. 

These early initiatives demonstrated Notehall’s ability to meet students’ academic needs effectively. Notably, the platform had already attracted above 5,000 customers and generated more than $20,000 in sales since the launch of its website.

Barbara Corcoran raised an important concern: the accuracy and quality of the notes available on the platform. In response, D.J. and Sean assured the sharks that they would refund any customer who received subpar content, emphasizing their commitment to quality.

Kevin O’Leary expressed concerns about market competition and the potential for larger players to overshadow Notehall. D.J. and Sean, on the other hand, emphasized their distinct approach, positioning Notehall as a platform for both users and content creators. 

Robert Herjavec questioned the company’s $900,000 valuation, prompting Daymond John and Kevin Harrington to withdraw. Sean made the audacious claim that Notehall would be worth $24 million in four years, staking half of the company on it.

This audacious claim piqued the interest of Kevin O’Leary, who made a $90,000 offer for 51% of the company. Barbara quickly countered with a similar offer, pitching $90,000 for 50%, causing some tension between the sharks. 

D.J. and Sean responded by proposing a 15% equity stake, with the caveat that they would pay the sharks their share if the company failed to reach $1 million in sales. Kevin countered with an offer of $90,000 for 35% equity.

Barbara revised her offer to $90,000 for 25% equity, and Robert Herjavec entered the fray with $115,000 for 35%. In the end, D.J. and Sean decided to accept Barbara’s offer, which left Kevin quite upset. So, where is Notehall today?

What Happened To Notehall After Shark Tank?

Following their appearance on Shark Tank, the anticipated deal with Barbara Corcoran never materialized. This is because Barbra did not support the idea of selling Notehall to Chegg. However, this was far from the end of the road for Notehall and its founders, D.J. and Sean. The duo partnered with DreamIT Ventures, a strategic move that would significantly shape their trajectory.

Notehall gained access to over 50 universities as a result of the partnership. This expanded its reach and influence within the educational landscape. However, the most significant turning point in Notehall’s journey occurred when it was acquired by Chegg on June, 2011.

While the exact financial details of the acquisition were not disclosed, Notehall received a substantial sum of $3.7 million in shares as part of the deal. Chegg’s acquisition not only validated Notehall but also integrated its services and resources into a larger and more established platform. 

Notehall Net Worth

The most recent financial data shows that Notehall has a commendable net worth of $4.1 million as of 2023. This impressive valuation reflects the company’s enduring impact and growth since its inception.

Notehall continues to thrive in terms of annual revenue, generating a sizable income of $240,000. Notably, when D.J. and Sean presented Notehall on Shark Tank, they shared their early success story, indicating that they had already made a profit of $30,000. 

Furthermore, with a total of 6,000 units sold, their sales figures were nothing short of remarkable. These early successes demonstrated the platform’s financial viability as well as its ability to meet academic standards.

Notehall Sales Data

While Notehall, now owned by Chegg, does not disclose specific sales figures, it is clear that the company’s financial performance has improved significantly. This is especially memorable since its appearance on Shark Tank. 

Although exact revenue figures are not available, it is safe to assume that Notehall’s annual sales are over a million dollars.

Is Notehall Profitable Now?

Yes, Notehall is profitable. After it was acquired by Chegg, it has continued to experience substantial growth and financial success. The acquisition by Chegg allowed Notehall’s services to be available to a larger and more established educational technology platform. 

As we continue to explore the innovative world of Shark Tank, let’s dive into the unique skincare and entrepreneurial journey of Angels and Tomboys in our Angels and Tomboys Shark Tank update. Discover how this company is making waves in the industry. Additionally, for those interested in innovative lip balm products and marketing, don’t miss our Kisstixx Shark Tank update, where we share insights into the latest developments in this creative venture.

Conclusion 

Notehall shark tank update, i.e., from its appearance on Shark Tank to its acquisition by Chegg, is a remarkable testament to innovation. Notehall was founded in 2008 by Sean Conway and DJ Stephan with the goal of revolutionizing the way students accessed and shared academic resources.

The Shark Tank episode was a watershed moment, showcasing the platform’s potential and vision. Though the deal with Barbara Corcoran never materialized, D.J. and Sean’s unwavering determination propelled Notehall to greater heights. 

According to the most recent available data, Notehall’s net worth in 2023 is an impressive $4.1 million. Notehall’s legacy lives on as it continues to serve students and foster educational collaboration.