Shark Tank Wedy App, a wedding planning app founded by Rumaiza Ali and Anas Ali, telecasted Shark Tank USA in 2024 on Season 15. The founders were seeking $300,000 for 5% equity. Unfortunately, they couldn’t secure a deal with any of the Sharks. In this article, we will explore Wedy App Net Worth in 2024, its Shark Tank pitch summary, and more.
Wedy App Net Worth
As of January 2024, Wedy App’s net worth was $1 million, and its annual revenue was $850K in 2023.
| Net worth | $1 million |
| Annual Sales Revenue | $850K (In 2023) |
| Profits | $60,000 |
| Lifetime sales | $1.5 million |
| Employees | 2-10 employees |
Wedy App Net Worth Timeline
| Net Worth 2024 | $1 million |
| Net Worth 2023 | $800K |
| Net Worth 2022 | $750K |
Shark Tank Wedy App Update from Season 15
Planning a wedding can be fun but also tiring and stressful. The wedding planning app Wedy helps make this easier. It combines all the wedding details into one app so that you can manage everything at once. In episode 20 of ABC’s ‘Shark Tank’ season 15, the founders introduced Wedy to the sharks, confident that it would impress them.
Rumaiza Ali and Anas Ali were seeking $300,000 for 5% equity, valuing the company at $6 million. The sharks wanted to know more about how the business operates.
The couple explained that Wedy’s platform helps couples with wedding planning by offering straightforward pricing, flexible packages, and direct communication with service providers through the app. Also, they earn 24% from each package sold on the platform. The founders ensure no hidden fees, covering all costs from flowers to catering, including taxes and service charges. A key feature was that all wedding services are combined under one contract and price, so there was no need for multiple vendor agreements.
Further, the company offers a selection of over 360 venues across the country and works with more than 1,500 local wedding professionals. Their average rating is 4.8 out of 5 stars. They provide more affordable packages than the national average wedding cost. Wedy’s average package is $15,600, while the national average is $33,139.
Mark Cuban asked about their business progress. The couple revealed that their total revenue to date is $1.5 million. They had sales of $73,000 in 2020, $91,000 in 2021, and $510,000 in 2022. Also, by the year of filming, they expect to make $850,000 in sales but only about $60,000 in profit.
They spend around 8% of their revenue on advertising. However, Mark Cuban didn’t believe the company’s $6 million valuation, which is terrible news for Rumaiza and Anas. After Mark’s concerns, Robert Herjavec decided not to invest due to the anticipated challenges ahead. Mark Cuban agreed with Robert and chose not to invest.
Barbara Corcoran admired the couple but advised them to forge ahead without a shark and declined to invest. Lori Greiner decided it was too early to invest, so she opted out. Kevin was impressed by their presentation but revealed he was already involved in a similar wedding business called HoneyFund, leading him to decline to invest. So, without a deal, the founders had to go from the Shark Tank platform.
| Company Name | Wedy |
| Founder | Rumaiza Ali and Anas Ali |
| Business | A wedding planning app |
| Episode | Season 15, Episode 20 |
| Asked Deal | $300,000 for 5% equity |
| Final Deal | No Deal |
| Shark | No Sharks |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Austin, Texas, United States |
Summary of the Sharks’ Deal List!
| Sharks | Offer | Counter Offer |
| Mark Cuban | No Offer | N/A |
| Kevin O’Leary | No Offer | N/A |
| Robert Herjavec | No Offer | N/A |
| Lori Grinear | No Offer | N/A |
| Barbara Corcoran | No Offer | N/A |
What Happened to Wedy App after Shark Tank?
As of June 2024, the Wedy App is still in business. Wedy offers wedding packages starting at $2600, featuring diverse settings like beach weddings, mountaintop venues, and more. Couples can pay their half bill before the wedding. Wedy operates in New York, Utah, North Carolina, Texas, Tennessee, Florida, Montana, Hawaii, Colorado, Arizona, and California.
The company raised $165,000 in 2019, with an additional $20,000 later that year. Looking ahead, Wedy aims to expand into new markets and secure additional investment to develop its services further. The company plans to innovate within the wedding planning sector, focusing on user experience and technological advancements.
Although Rumaiza and Anas didn’t secure a deal on Shark Tank, Wedy’s progress remains strong. The company continues to enhance its SaaS (Software as a service) tools for event management, aiming to streamline operations for wedding businesses. Their website offers comprehensive options for planning weddings, making it easier for engaged couples to navigate the process with less stress.
Wedy App Founders
Rumaiza Ali and Anas Ali are the founders of Wedy App, which was officially started in 2021. Originally from Chennai, South India, she grew up in a family that migrated from Saigon. She completed her Mathematics and Computer Science education at St Michael’s Academy. Later, she earned a Bachelor’s degree in Architecture and Interior Design from SRM University. She started her entrepreneurial journey early as an 18-year-old architecture student.
She founded The Little House of Cupcakes in March 2012 while studying Architecture & Interior Design at SRM University. Her venture into event planning began with The Dream Theme in June 2013, sparked by designing a client’s son’s birthday party. This led her to organize her brother’s wedding, further cementing her interest in the wedding planning industry.
During this time, Rumaiza also gained experience as an Architectural Intern at Eskay Design in 2013. Showing her success as a wedding planner, she earned awards at the International Convention of Wedding Fraternity (ICWF) for Best Upcoming Wedding Planner and Best Floral Artistry. The idea for Wedy came when she faced challenges planning her wedding, including hiring a photographer, which was so difficult. She has also worked as an advising leader at FLIK (Female Laboratory of Innovative Knowledge).
Anas earned his bachelor’s degree in engineering from Hindustan University. He later pursued an MBA in Finance and Aviation Management at Embry-Riddle Aeronautical University. His career began at Phoenix Aviation Consultants as a Technical Crew Assistant. He also worked as an associate editor/publisher at Marketingtechie.org.
Also, at Frontier Airlines, he spent over five years in roles within Revenue Management and as a Network Planner. Anas briefly served as an Interim CTO at Accelerist before joining Frontier Airlines. Since February 2020, Anas has been the CTO of Wedy, supporting his wife’s vision with his technical expertise.
Anas Ali is highly skilled in integrating business concepts with end-to-end product development. He has successfully built mobile and web app platforms for several firms, notably Accelerist Inc., which won the Austin Startup Week WIT award. Rumaiza Ali and Anas Ali’s net worth is estimated at $1 million as of January 2024.
Wedy App Achievements and Awards
| Year | Achievements and Awards |
| 2024 | The company was highlighted in various media outlets, including ABC and Techstars. |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Wedy App was one of the ventures featured on the show. Despite losing the deal, the company showed that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 20.
