Raising 250K on Shark Tank with $800 in Revenue ~ Nick Sky Founder of Changed App
EP
114
We've got an insanely special podcast coming your way. Have you ever felt the burden of student loans or credit card debt? I know I have, those pesky loans won't go away easily but I have a solution for you.
In this episode, we sit down with Nick Sky, CEO of Changed who shares insights, anecdotes, and invaluable tips on harnessing the power of entrepreneurship.
Changed started as Dan and Nick were among the sea of graduates struggling with the burden of student loan repayment (43.6 million at latest count). To ease the pain, they created an app that simply rounds up everyday purchases and stashes it in an account. Such if you pay, say $3.65 for a grande Starbucks latte, the app adds and routes that 35 cents short of $4.00 into your account.
Surprising how fast that loose change adds up to help pay off loans. (It was a “why didn’t I think of that” moment as I listened to their story.)
Changed offered a winning combination of leveraging technology to help with education-related issues, a concept that totally resonated with me – and apparently also with Shark Mark Cuban. He granted the brothers $250,000 for a 25% equity stake plus his invaluable high-tech, high-profile expertise.
Since then, Changed has racked up success to make a Shark proud: It’s sent over $25 million in payments, helping members save $50M+ in interest and shorten their repayment time by decades.
Do Debt Differently: put more money back in your wallet with an app that helps you manage your savings and minimize your debt.
