Three-Day Rule
Val Brennan is pitching Three Day Rule, the easier and faster way to find love. She is co-founder of the company and is seeking $200,000 for 10% equity. Val is a lawyer who had problems finding a quality date, so she created this company where everyone must be invited to get in to the club.
People who apply and are accepted are allowed to start communicate in Three Day Rule. The Three Day Rule means you can't call someone in three days because you might seem to desperate.
Their demographic is people who are making over $50,000 and they have an application process to get on the site. They offer additional premium services where they have validation.
The company has 10,000 people who have submitted applications, and they are pre-revenue, launching four weeks before the Shark Tank pitch. They did have a successful offline business and they are now scaling to the online model. The membership cost is $100 per month. The revenue is about $70,000 from last year.
Val doesn't have time to meet people because I have been working. She has a business partner who is an expert matchmaker. They charge $1,000 for three dates for a year.
The difference between the other sites and Three Day Rule says they don't screen their clients like Val's company does.
Members will pay $100 per month. they estimate a client will stay on for six months with a prediction that by year three they will have $23 million in revenue.
They have already raised $150,000 at a four million dollar valuation but she realizes the value of the Sharks.
Three-Day RuleEpisode Data
- Company: Three-Day Rule – Website
- Entrepreneur: Val Brennan
- Ask: $200,000 for 10% equity
- Episode Season 4 Episode 425
- Companies in this episode:
- Three-Day Rule
- Ryan's Barkery
- Tom and Chee
- Verbalize It
- Ice Chips Candy – Featured Update
- Sharks:
- First Aired: 05/17/2013
- Deal: No Shark Tank Deal
What do the Shark Tank Investors say about Three-Day Rule?
- Mark Cuban – believes he is interested if there's truly a way to differentiate this site from other sites. Makr is looking for a specific algorithm because he wants to be in, but she doesn't give him a strong enough reason. Val says they screen all clients, but that is not enough to get him to invest. He is out.
- Daymond John – doesn't believe the $2 million valuation is justified. He is out.
- Kevin O'Leary – agrees that the valuation is to high. He thinks they don't have the differentiation. He is out.
- Barbara Corcoran – thinks Val is more confusing than convincing. She is out.
- Robert Herjavec – isn't clear as to what differnetiates the site. He is out.
Three-Day Rule after Shark Tank
Three Day Rule didn't get a deal with the Sharks, but they did secure a deal with Match.Com as their premium service wing. They handle their high end clients, who take online dating to the next level.