What Happened to My Therapy Journal After Shark Tank?
What is My Therapy Journal?
My Therapy Journal was a web-based tool that allowed users to track their mental and emotional wellbeing. Individuals might use the application to keep private and secure journals.
My Therapy Journal was created by two brothers, Rodolfo and Alexis Saccoman. Their campaign was part of a bigger plan to honor their father, who had battled relentlessly to get their entry to the United States.
Who founded My Therapy Journal?
My Therapy Journal was founded by two brothers, Rodolfo and Alexis Saccoman. Their campaign was part of a bigger plan to honor their father, who had battled relentlessly to get their entry to the United States.
Using keywords, the computer tracked the individual’s mood, habits, concerns, and diagnoses. The data were then used to determine whether or not a user’s emotional well-being had improved.
Alexis was a therapist, and his brother worked for a well-known resort as an online marketer. Rodolfo currently runs two businesses, AdMobilize and MATRIX Labs.
He has also served as an investment adviser and as the head of digital investing. Dr. Alexis continues to practice and serves as the Program Director for iThrive.
Before receiving two master’s degrees and finishing college, their father worked in manufacturing. He worked extensively to lay a solid foundation for his boys’ futures.
The sons did not waste their father’s opportunities. Alexis went on to open her own therapist practice, while Rodolofo became the marketing director at a large resort.
What Happened to My Therapy Journal During My Shark Tank Pitch?
They united their various skills to create My Therapy Journal, a website that allows users to get therapy services from the comfort of their own homes, and they chose to pitch on Shark Tank.
Alexis and Rodolfo entered Shark Tank seeking an $80,000 investment in return for a 20% stake in their company, which is worth $400,000.
Alexis tells the Sharks to close their eyes for a few seconds and think about what makes them happy. “Ten million,” Kevin O’Leary adds, causing the brothers and the rest of the Sharks to laugh.
Rodolfo says they’re in the business to “spread that experience with as many people as possible.” According to Alexis, the program offers an online alternative to traditional counseling.
The secure website allows users to keep a diary, and the application tracks keywords and phrases to help track progress with a certain diagnosis or mood.
Rodolfo claims that they have over 1,000 registered users and around 120 who have joined up for a payment plan. Within a year, sales had risen to $4,000.
The Sharks are underwhelmed with the numbers. Barbara Corcoran’s business is no longer in operation owing to low sales. Kevin Harrington agrees but declines to make an offer.
Two Sharks have been eliminated, left three. Alexis recounts that the boys contacted Aetna, a large insurance firm.
The news piques the interest of the remaining Sharks. Kevin O’Leary makes an offer of $80,000 for 50% ownership of the firm.
Robert Herjavec was another possible buyer. Daymond John stands out as the only one who expresses a willingness to be a part of the deal.
In view of Robert Herjavec’s marketing abilities and personal internet expertise, Robert Herjavec makes an offer to the brothers, but with a little change of $80,000 for 51% ownership shares in the business.
Kevin O’Leary and Robert Herjavec omit John from the transaction, causing him to strike his own contract for $80,000 for 51 percent equity shares, in collaboration with Herjavec and Kevin O’Leary.
Daymond John makes a $120,000 bid for a 50% stake in the company. After some back and forth, the brothers accepted Robert Herjavec and Kevin O’Leary’s $80,000 offer for a 51% ownership in the company and both exited the presentation with the deal.
What Became of My Therapy Journal After Shark Tank?
Following the two brothers and two Sharks applauding on the field for a deal, the deal with Robert and Kevin never finalized, and the siblings disbanded the company in December 2009, just a few months after appearing on Shark Tank.
Alexis Saccoman is presently the Program Director of IThrive and a private practice psychologist. Rodolfo Saccoman has shifted his focus to his own start-up, AdMobilize.com. My Therapy Journal was forced to shut down.
My Therapy Journal’s Competitors
My Therapy Journal are competitors with Daybreak Health, Anxiety Care, and Mood GYM.
My Therapy Journal’s Net Worth
During the pitch, the firm was valued at $400,000, but after two Sharks invested, the company was valued at $156,863. The firm’s net worth is unavailable in 2021 since the company is no longer in operation.
My Therapy Journal FAQs
What was My Therapy Journal?
My Therapy Journal was a web-based tool that allows users to track their mental and emotional well-being. Users can secure their diary online, and the application tracks keywords, feelings, diagnoses, etc.
The program provides information and then makes suggestions based on the user’s history. The website has a subscription-based model to cover its costs.
How much did My Therapy Journal cost?
My Therapy Journal is free to join but comes with a fee if users want access to its premium features (e.g. unlimited entries and notes, unlimited calendar and email reminders)
Was My Therapy Journal available in any other languages?
My Therapy Journal was available in English and Spanish.
What are the payment options for My Therapy Journal?
My Therapy Journal currently accepts PayPal and Credit Card payments.
How did My Therapy Journal work?
My Therapy Journal worked through an online diary where users could record their feelings and thoughts.
How was My Therapy Journal different from other therapies?
My Therapy Journal is different from traditional therapies in that it offers a more convenient, secure and approachable platform for therapy.
Why are you better than the other competitors?
My Therapy Journal is better than anxiety care and mood gym in that it offers a more convenient, secure, approachable way to get help.
What did My Therapy Journal made of?
My Therapy Journal is made of a website, which is available on both Android and iOS devices.
How much did My Therapy Journal cost?
My Therapy Journal costs $59 a month for unlimited entries and notes, unlimited calendar, and email reminders. Users can also opt for its other paid plans, e.g. its premium plan that costs $99 per month.
What were the tools used to make My Therapy Journal?
My Therapy Journal was made using PHP and MySQL with Bootstrap framework.
Was My Therapy Journal a scam?
My Therapy Journal is not a scam.
What was My Therapy Journal’s revenue stream?
My Therapy Journal had two payment plans that users could access from their website. The first plan, the standard plan, costs $59 per month and includes unlimited entries and notes, unlimited calendars, and email reminders. Users can also opt for its Premium Plan, which costs $99 per month.
How was the business model of My Therapy Journal?
The website’s revenue is generated by charging users a monthly fee of $59 for access to its premium feature. My Therapy Journal also took advertisements on its site.