What Happened to 2400 Expert/Prep Expert After the Shark Tank Pitch?
What is 2400 Expert/Prep Expert?
Prep Expert is a company specialized in educational technology with a focus on online SAT and ACT preparation. We provide complete live online seminars, on-demand video courses, and private training in a one-on-one setting.
Prep Expert is the industry leader in online test preparation, with a faculty of top 1% instructors, perfect-scoring methodology, and industry-leading score guarantees.
Who is the Founder of 2400 Expert/Prep Expert?
Shaan Patel is the Company’s founder.
Patel’s parents purchased a hotel rather than a residence following their 1980s move from India to Las Vegas.
He was enrolled in a tiny urban public school in Nevada that lacked the resources necessary to give him with the education he desired.
It had a 40% dropout rate and students were ill-prepared for the SATs.
Patel spent the summer studying at a library after failing to get the requisite entry score for medical school.
Patel’s score was increased by 640 points, resulting in an ideal score and company concept. He was inspired to make a change in education as a result of his experiences and founded the 2400 Expert to aid children in acing their SATs.
His preferred university, the University of Southern California, accepted him and offered him a tuition-free scholarship.
He intended to publish his SAT lectures following graduating in 2010, but was rejected by publishers.
He expanded it into a course, and his first class of 18 students improved by an average of 376 points, prompting him to train other teachers and launch 2400 Prep Expert.
Within three years, 2400 Prep Expert has grown to a revenue of over $1 million and a profit margin of 40%.
He focused his time to 2400 Prep Expert and even finished an online semester of his MBA in order to increase the company’s facilities.
He enrolled in Yale’s MBA program in order to supplement his lack of business expertise.
What Happened to 2400 Expert/Prep Expert at the Shark Tank Pitch?
Shaan is at home at the start of the section. He says that he has devised a method for attaining good SAT scores.
He asserts that he has driven continuously since his parents immigrated to the United States of America with $75 in their wallets and founded a motel.
Despite his attendance in impoverished urban schools, he was accepted to medical school, graduated, and continued his education at Yale with an MBA. He desires to complete a deal and earn the respect of his parents.
Shaan offers $250,000 in return for a 10% share in his business. This equates to a valuation of $2.5 million.
“Men and women both lie,” he maintains, “but numbers do not.” He is one of just 3000 children worldwide who achieved a perfect score on the SATS, out of 14 million who took the test. He is now passing on his skills to his students and hopes to expand his business throughout the country.
In Las Vegas, he taught his first six-week course in person. Shaan has a four-year revenue history of $1.2 million, including $600,000 in the last year.
The in-person course is $199, and Shaan has started teaching online as well. After finishing the course, the typical student earns 350 points.
Shaan is confused when Mr. Wonderful inquires about the expense of client acquisition, to which Mr. Wonderful answers that the strategy is totally centred on client acquisition.
Daymond announces that he is already in the online education speech and does not desire to join Shaan; he departs. Shaan is seeking funds to develop new markets, and he claims that parents are the clients.
Lori enquires as to whether he intends to pursue a career as a physician or as an entrepreneur. Shaan asserts that he has always wished to pursue a profession in medicine.
Mr. Wonderful is skeptical that Shaan is filled with commercial zeal.
Kevin says that Shaan cannot return to entrepreneurship as a part-timer following a break. Shaan explains that he is taking an extended summer break from school to focus solely on his business.
He notifies Kevin that he is available for licensing.
Lori appreciates the electronic classes but is unable to pay him; she withdraws.
Robert concludes that Shaan is faking it and that he is unable to invest in the part-time entrepreneur.
Kevin believes the market is recession-proof, but Shaan lacks the necessary commitment, and Kevin is “not that general.”
“In ten years, where do you want to be?” Mark makes an inquiry. Shaan stated that he hopes to gain $20 million in sales from 2400 Expert.
Mark is interested in comparable opportunities to Shaan’s and offers $250,000 for a 20% investment.
Shaan counters with $250,000 for 15%, but Mark is unconvinced.
Shaan then demands $300,000 for a 20% ownership, but Shaan accepts the first offer before Mark can say no.
What Happened to 2400 Expert/Prep Expert After the Shark Tank Pitch?
The program’s income has doubled to more than $4 million. Shaan’s team increased from ten to fifty employees.
Shaan launched a Kickstarter effort in 2016 to raise funds for a book he co-authored with Mark Cuban and a 16-year-old entrepreneur, Ian McCue.
How Any Kid Can Start a Business is now available for purchase via Barnes & Noble’s Create Space publishing platform and is selling well.
Shaan has already published eight novels, so this is another another diamond in his publishing crown.
In season 11, episode 1104, Shaan receives an upgrade.
Shaan appears in this update alongside Mark Cuban and the ChangEd folks to speak to students in Las Vegas about college debt.
He states in the film that he has a total revenue of more than $20 million. As of August 2021, the firm is booming with annual sales of $5 million.
What is the Net Worth of 2400 Expert/Prep Expert?
Shaan offered $250,000 in return for a 10% share in his business. This equates to a value of $2.5 million. He accepted a $250,000 offer from Mark Cuban for a 20% stake, valuing the company at $1.25 million.
Who are the Competitors of 2400 Expert/Prep Expert?
Prep Expert has no known competitors.
What Happened to DynoSafe After Shark Tank?
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2400 Expert/Prep Expert FAQS
What is 2400 Expert/Prep Expert?
2400 Expert is an online education organization that provides courses to help students improve their SAT scores.
Who is the founder of 2400 Expert/Prep Expert?
Shaan Patel is the founder of 2400 Expert/Prep Expert.
How much was he asking in the Shark Tank Pitch?
Shaan sought $250K in exchange for a 10% share in his business.
Did he get a deal?
Shaan accepted a $250,000 offer from Mark Cuban in exchange for a 20% stake.
Is 2400 Expert/Prep Expert still in business?
Yes, the firm is prospering, with yearly revenue of $5 million.
Is Prep Expert good for SAT prep?
Additionally, Prep Expert provides live online coaching from the greatest SAT teachers in the industry.
These instructors all scored in the 99th percentile on the SAT and ACT and are skilled in all 100 tactics in Shaan Patel’s Prep Expert approach.
How Much Are their Courses?
Their 6-Week Flagship Courses start at $999, or $16 per hour of training. Please bear in mind that their prices are dynamic and may change based on demand and the commencement date.
Where Are their Locations?
They provide SAT and ACT preparation classes both online and in-person. In the majority of situations, parents enrol their children in their online courses.
Why Prep Expert?
Their child will gain tactics and procedures for taking tests that are not taught in high school.
What are strengths of 2400 Expert/Prep Expert?
2400 Expert has recruited and trained the world’s greatest SAT instructors to help its pupils.
Where can they be found online?
PrepExpert’s online offerings are hosted on their website, www.prepexpert.com
Which high school did Shaan Patel attend?
He attended Clark High School, which has a disproportionate number of underprivileged students and only around half of them meet US educational standards in reading and math.
Around 40% of district children drop out. Patel has come to embrace his upbringing as a “distinctive feature of his boyhood.
Is Prep Expert same as Kranse Institute?
Only Kranse Institute offers The Prep Expert’s SAT video course. Prep Expert is the primary provider of live SAT and ACT lessons, both online and in-person.
How do they get a refund from prep expert?
Please contact them at (877) 345-7737 or [email protected] to get a refund for a withdrawal or cancellation.
Please be informed that withdrawal refunds are typically received within four (4) weeks.
They can purchase additional private tutoring hours through the Student Dashboard.
