Honeyfund Enters the ‘Shark Tank’: 5 Fast Facts You Need to Know

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(ABC)

Honeyfund, a honeymoon registry, enters the Shark Tank on October 24.

Heavy interviewed Sara Margulis, CEO and founder, to learn more about the company.


1. It’s a Honeymoon Registry

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(honeyfund)

Couples simply create a page and guests send their gift, in the form of funds, directly to them via cash, check, or PayPal.

The site focuses on experiences for couples, instead of buying individual items. It is ideal for couples who lived together prior to getting married.

Margulis explained, “Honeyfund’s growth has been fueled by a shift in demographics and social norms. More couples are living together and already have the housewares they need to start off.”

However, couples can also ask for non-honeymoon items. In fact, one couple registered for fertility treatments during their honeymoon cruise.


2. The Founders Thought of It for Their Honeymoon

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(ABC)

The company started from a need the couple had to fund their honeymoon. “We dreamed of a two-week honeymoon in Fiji that we could have never have afforded after paying for our wedding,” she said.

Her husband, Josh, created a page to share their honeymoon wish list that included the resort, meals, massages, and excursions. They raised $5,100.
A year later, in 2006, Honeyfund launched.

The husband and wife team had a solid background for creating the company.

Josh is a software engineer, and Sara has an MBA with online marketing experience.

“We collaborate and offer each other input, but ultimately respect each other’s decisions in our own areas of expertise,” she said.


3. It’s a Free Service

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(honeyfund)

“Having free options has always been one of our core values, so we’ve made it a priority,” Margulis said.

The business has expanded and now Honeyfunders can choose upgrades in addition to the standard free package.


4. They Were Nervous & Calm to Face the Sharks

Sara Josh on the Set of Shark TankSara and Josh from Honeyfund answer getting ready to walk into the Shark Tank! Watch Honeyfund on ABC Shark Tank October 24 at 9|8c! http://www.honeyfund.com/shark-tank2014-10-23T19:30:31.000Z

Their appearance came about because someone on the show’s team had used the online registry and asked them to apply.

When asked if they were apprehensive, she said,
“We were absolutely nervous, but also strangely calm! It’s one of those make-or-break moments of your life, and we felt we had to trust that whatever was meant to happen, would happen.”

Watch the video above the couple shot in their trailer, ready to make their debut.


5. They Also Own Plumfund

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(plumfund)


Plumfund was started in 2013. It uses the same premise as Honeyfund, except it raises money for any occasion.

“And now users are coming to Plumfund for baby showers, birthday surprises, anniversary trips and more,” Margulis said.