Savy, as featured in Season 9 of Shark Tank, is a cutting-edge comparative pricing application designed to facilitate monetary savings on everyday purchases. With Savy, you can receive cash back on your transactions by linking your bank card directly to the service. This app is free and has no hidden costs or monthly fees.
Savy’s primary feature is its comparative pricing, which enables users to compare the prices of various products and select the best deal. This tool is vital for anyone who wants to manage their spending effectively and save money on routine purchases.
Further improvements since its Shark Tank debut have extended its capabilities, including specific product searches, comparison of prices across multiple retailers, and setting up price alerts to notify users when a product’s price drops.
Despite the Sharks not investing in Savy due to concerns over its ability to scale and compete in a market with similar products, it has grown significantly in popularity since its appearance on the show. Now boasting over 1 million downloads, Savy is available for iOS and Android devices.
Savy offers a unique cash-back reward system on certain purchases, potentially amplifying savings. The application also provides budgeting tools allowing users to set spending limits, encouraging better financial management.
However, it’s important to acknowledge a few drawbacks. The app’s availability is limited on some devices, and it operates on a subscription-based model requiring monthly payments.
There have also been sporadic reports of the app crashing or freezing, and a few users have found the interface confusing. Lastly, not all features may be available to those outside major cities.
Despite certain limitations, Savy can be a vital tool for anyone looking to manage their finances more effectively and save money on everyday purchases.
Savy is a practical and free solution for comparing prices across a range of products, earning cash back on purchases, and being alerted to price drops.
With its easy-to-use interface and unique savings-oriented features, Savy is an application worth considering for anyone aiming to stretch their budget further.
|Product||Pricing app for Shopify that lets customers set their prices|
|Investment Asking For||$100,000 for 10% equity in Savy|
|Final Deal||No Deal|
|Savy Episode||Season 9, Episode 18|
|Savy Business Status||Out Of Business|
|Savy Website||Visit Website|
|Savy Net Worth||$0 (As of 2023)|
What Is Savy?
Savy is an innovative platform that presents a unique solution for consumers searching for affordable, high-quality services and businesses seeking to fine-tune their pricing strategies.
The purpose of Savy is to bridge the traditional buying and selling processes by giving consumers the power to name their prices for products and services they want. Sellers then have the opportunity to either accept or reject these offers, fostering a space for cost-transparent transactions.
As a platform, Savy offers an intriguing alternative to conventional pricing models, presenting a ‘Pay What You Want’ system, a powerful strategy for businesses to test their pricing and understand the true monetary value customers place on their offerings.
Moreover, consumers can acquire quality services and products at an appropriate cost, giving them greater control over their expenditures.
Therefore, Savy is not just a platform that offers products and services but a transformative ecosystem that encourages flexible pricing, promoting a balanced and more democratic marketplace.
Who Is The Founder Of Savy?
The founder of Savy is Disha Shidham. She is an entrepreneur who showed a keen interest in startups and technology from a young age. Her entrepreneurial journey began when she was just a high school student.
During this period, she founded a startup called TacBoard, an aggregate shopping site. She conceived the idea for this site when she was only sixteen years old and turned it into a full-fledged business in the Spring of 2014 at her Quarter Zero Catapult Incubator Program.
Despite TacBoard’s initial launch, Disha realized that the platform was not scalable, particularly as a group of high school students had coded it. During these initial entrepreneurial experiences, Disha identified an opportunity for a different approach to online retail.
She noted the challenges faced by both consumers and businesses in the retail space: consumers found it hard to afford items at expensive outlets, and businesses struggled to convert window shoppers into paying customers.
Inspired by these insights, Disha decided to pivot her business model. She took the learnings from her initial venture, TacBoard, and incorporated them into a new Savy platform.
Savy’s unique value proposition allows consumers to suggest a price they are willing to pay for a product. If a retailer accepts the offered price, the consumer is notified via email.
This strategy aimed to bridge the gap between consumers and retailers, converting passive browsing into active purchasing while enabling consumers to shop within their budget.
Before appearing on Shark Tank, Disha and her venture, Savy, had experienced modest success. Savy secured partnerships with around 1,000 stores and boasted over 2,000 registered users.
Savy’s user base came through social media channels like Instagram and Facebook. Disha even developed a cadre of Instagram bots to promote Savy, a strategy she was notably proud of.
Disha’s dedication to her venture led her to make significant personal sacrifices. She deferred a university scholarship to focus on Savy and moved to Wilmington, North Carolina, to lead a program for gang leaders, hoping to learn leadership skills and apply them to her business.
Despite the challenges, she remained committed to Savy, believing it could revolutionize the e-commerce landscape.
How Was The Shark Tank Pitch Of Savy?
Disha Shidham, the founder of Savy, a unique online shopping platform, entered the Shark Tank in Season 9. She sought an investment of $100,000 in exchange for 10% equity in her company, valuing Savy at $1 million.
The platform’s distinctiveness lies in its model, which allows customers to set their desired price for items they wish to purchase. During her pitch, Disha outlined the primary operation of Savy and its benefit to consumers and retailers alike.
She told the sharks that she had partnerships with around 1,000 stores and about 2,000 active users. Despite these figures being relatively low, Disha underscored that Savy was still in its startup phase.
However, the sharks had some concerns. Mark Cuban, one of the high-profile investors on the panel, was the first to drop out without making an offer.
He expressed skepticism about Disha’s decision to forgo her university education to focus on her business, indicating he believed she needed a broader worldview that education could provide.
Kevin O’Leary, another investor, felt that Savy and Disha were too early in their growth journey to warrant the risk of the investment they sought. He expressed concern about the platform’s limited user base and decided to pass on making a deal.
The remaining sharks – Robert Herjavec, Lori Greiner, and Daymond John – also decided to drop out. Their reasons were mainly due to the nascent stage of the business and the perceived long journey ahead for the company to become profitable.
Ultimately, Disha could not secure a deal from any sharks and had to leave the Shark Tank empty-handed. She returned to her venture post-Shark Tank, hoping to continue growing her business.
Despite her efforts, however, subsequent updates suggested that Savy has since ceased operations, indicating its challenges following the Shark Tank presentation.
What Happened To Savy After Shark Tank?
After Disha Shidham’s appearance on Shark Tank, where she could not secure an investment deal, Savy changed its business model and attempted to continue its operations.
The company partnered with a few businesses, and these businesses reported that Savy’s data was helpful for them in setting sales prices. Savy also launched a paid tier that was in beta testing with some large clients to monetize the platform.
Savy reported that this new tier had significantly increased buyer conversions and even provided a 20% increase in revenue for products in their tests.
Additionally, they launched a “Shark Tank Special,” a promotional offer that allowed users to use their Savy Sales for free for 30 days.
Despite her best efforts, Disha Shidham could not turn Savy into a profitable or sustainable business after her appearance on Shark Tank.
Savy Shark Tank Update
After reviewing the information from multiple sources, it is clear that Savy, an e-commerce startup or app founded by Disha Shidham, faced challenges and eventually went out of business after appearing on Shark Tank.
Savy struggled to attract customers and generate revenue, leading to its closure in 2018. Despite initial partnerships and positive reviews, the lack of sales and a clear revenue model contributed to its downfall. Disha’s pitch on Shark Tank was unsuccessful, lacking coherence and facing skepticism from the Sharks.
Savy aimed to give customers the power to set prices, particularly targeting teenagers. Despite initial partnerships and a substantial user base, Savy struggled to make sales and eventually went out of business.
Disha’s pitch on Shark Tank did not result in a deal, as the Sharks had concerns about the app’s lack of sales and incomplete details. Disha continued her entrepreneurial journey but failed to generate revenue with subsequent ventures.
Savvy failed to secure a deal on Shark Tank and closed in 2018. The platform faced limited device availability, a subscription model, and a difficult user interface.
The Sharks commented negatively about Savy, and similar features were available on other platforms, resulting in his demise. Disha’s current status and future endeavors remain unknown.
Savy Sales facilitated direct communication and price agreements for businesses selling obsolete items. However, during the Shark Tank pitch, investors dropped out due to Disha’s focus on the business.
Savy closed in 2018 with an unknown net worth. The fate of Goverre and MorningHead, mentioned in the same context, remains undisclosed. Disha’s lack of preparation and commitment also contributed to the failure.
After the show, Savy experienced a temporary download surge but couldn’t sustain user engagement. Disha participated in an accelerator program and increased the number of businesses using the app.
However, the current status of Savy is unclear as the website has been taken down, and its net worth cannot be determined. Savy faced challenges in attracting customers, generating revenue, and sustaining user engagement after appearing on Shark Tank.
The lack of a clear revenue model, skepticism from the Sharks, and difficulties in execution contributed to the closure of Savy. While the details of Disha Shidham’s current endeavors remain unknown, her determination and entrepreneurial spirit may lead to future successes.
Is Savy Still In Business?
According to our research, Savy is out of business as of 2023. Despite appearing on Shark Tank, Disha Shidham could not expand her business and ultimately closed the operations of Savy in 2018.
What Is the Net Worth Of Savy?
According to our research, the net worth of Savy is unavailable as of 2023 since the company is out of business. The valuation of Savy was $1 million when it appeared on Shark Tank.
Also, read other notable businesses from Season 9 of Shark Tank: