In the bustling world of wedding planning, couples often find themselves swept up in romance and excitement. However, beneath the veil of bliss, there’s a less glamorous task awaiting them: drafting a prenuptial agreement. Julia Rogers, a savvy divorce attorney from Boston, turned this task into a golden opportunity. Her entrepreneurial spirit took flight when she founded Hello Prenup, a tech startup dedicated to making prenups accessible and affordable for all couples.
Back in 2019, Rogers was preparing for her own wedding when the thought of a prenuptial agreement became front and center. She noticed that many of her clients were unhappy with how cumbersome and costly the process was. With her law firm charging upwards of $8,000 and requiring months to draft an agreement, Rogers realized that something needed to change. Rather than letting this be yet another hurdle for soon-to-be-weds, she crafted a mission: to democratize the prenup process. Out of this mission, Hello Prenup was born.
Rogers faced her fair share of challenges getting the business off the ground. After struggling to secure funding through traditional routes, she took a bold step and withdrew approximately $150,000 of her life savings to hire developers. This leap of faith helped her create a platform where couples can draft and execute a prenup in roughly 90 minutes, all without a lawyer’s assistance. And guess what? Rogers and her fiancé were the very first users of the site, ensuring that it was as user-friendly as possible.
With the U.S. witnessing around 2 million marriages every year, the demand for prenuptial agreements has skyrocketed. Only 3% of couples signed prenups in 2010, but by 2022, that figure had jumped to approximately 15%. Hello Prenup has successfully captured about 20% of this expanding market, with Forbes estimating its revenue at an impressive $50 million while valuing the company at $140 million, with Rogers at the helm controlling an estimated 51% of the business.
Still, Hello Prenup didn’t become a household name without some media exposure. In 2021, Rogers and her co-founder, Sarah Beth Jaffy, found themselves pitching on ABC’s Shark Tank. Dressed for the occasion in a bridal skirt and veil, they sought a $150,000 investment for a 10% stake in their budding company. Initially, the Sharks were skeptical, passing on the offer. However, a turn of events led them to secure a deal with guest shark Nero Tia and veteran investor Kevin O’Leary, who were intrigued enough to purchase a 30% stake. This TV appearance proved to be a boon for Hello Prenup, with Rogers noting a 15% decrease in customer acquisition costs each time the show aired.
Despite its successes, the startup hasn’t been without its critics. Some established attorneys express skepticism regarding the legality of these low-cost agreements, fearing they may lack the rigor needed for enforceability. However, as demonstrated by a successful divorce facilitated by a Hello Prenup agreement, the service appears to be working for many couples, minimizing stress and fostering better co-parenting relationships. With plans already in the works to expand into post-nuptial agreements, Hello Prenup is set to redefine the landscape of family law services.
In an age where financial wisdom and legal protections are more crucial than ever, Hello Prenup is not just another tech startup; it’s a pioneering force aiming to simplify the way couples approach prenuptial agreements. With each new user, Rogers reinforces the message that planning for the future doesn’t have to be daunting or expensive. Instead, it can be as simple as a few clicks on a computer, allowing couples to focus on what truly matters: their happily ever after.
