82% of weddings were canceled in April 2020 and couples began having virtual ceremonies due to the pandemic. Caroline Creidenberg launched Wedfuly with the aim of making online weddings more interactive. Creidenberg pitched her business on Shark Tank and got a deal with Robert Herjavec. As of 2023, Wedfuly is worth an estimated $3 million.
About the Founder
Caroline Creidenberg hails from Denver, Colorado and has a bachelor’s degree in computer science from the University of Denver. While studying, Caroline worked part-time as a tour guide at her school.
She spent four months as a QA and marketing intern at Ad Astra Information Systems. There, she gained experience in web development. Later on, the Colorado native worked as a freelancer. Eventually, Caroline worked as a software engineer at the Nasdaq for almost a year.
Founding the Company
Creidenberg worked in male-dominated industries early in her career and wanted to start a business that is less masculine. She launched the first version of Wedfuly in 2017, a wedding planning software that helped users find photographers, flower providers, and more.
The business nearly went bankrupt when the pandemic started, so Caroline had to change the business strategy. She shifted towards live streaming weddings by partnering with Zoom in 2020. The first live stream even attracted press from Vogue and the New York Times. A year after pivoting, they streamed 700 weddings and made over $1.7 million in revenue.
Shark Tank Appearance
Caroline Creidenberg had healthy profits and owned 100% of the company which the Sharks like to see. She was invited to apply for the show in 2021 and got accepted out of thousands of applications. Creidenberg appeared on season 13, seeking $200,000 for a 5% equity stake.
The Sharks loved her pitch but Daymond John made a quick exit as he didn’t like the valuation. Mark Cuban also shared a fun fact, his brother was the first person to live stream their wedding online.
Kevin O’Leary offered $200,000 for 20%, believing his portfolio of wedding investments could be beneficial. Caroline asked Mr Wonderful to lower his equity to 10% but he refused. Robert Herjavec was willing to take a gamble and agreed to invest $200,000 for 10%.
After Shark Tank
Wedfuly’s Shark Tank episode was recorded in November 2021 but it didn’t air until a year later. By November 2022, the business had done over 1,000 weddings. According to an interview with Bizjournals.com, the deal with Robert Herjavec never closed.
Caroline can’t go into specifics as Shark Tank contestants have to sign an NDA. She simply said the deal “didn’t make sense” but it was a great experience. Wedfuly has seen a drop in business as restrictions for in-person weddings are gone.
In early 2023, they surpassed 1,200 weddings but the company will need to pivot again to prosper. Currently, Wedfuly has three full-time staff and four part-time employees. On their website, the company has an average rating of 4.8 stars from 46 customer reviews. Reportedly, Wedfuly makes around $2 million in annual revenue.