What Happened to Village Scholarships after Shark Tank?
What is Village Scholarships?
Village Scholarships is a crowdsourcing platform that grants scholarships to higher education students based on donations from the public. Students seeking financial assistance begin by creating an account and launching a campaign on the platform.
If they are comfortable doing so, they may identify the institution to which the money will be donated as well as their current living problems in their campaign.
The campaign will then be eligible for matching contributions from Village Scholarships donors, and after the requisite amount is achieved, the cash will be transferred directly to the student’s college of choice.
In Denver, Colorado, Antonio Adams founded Village Scholarships. Antonio graduated with honors from Metropolitan State University of Denver, where he was recognized to the Dean’s List and obtained a bachelor’s degree in Organizational Communication.
He worked in a number of firms after finishing his degree, most notably in marketing and product planning. Just a few examples are Arrow Electronics, AspenCore, Bark, and Network for Good.
Who is the founder of Village Scholarships?
Village Scholarships was founded in Denver, Colorado by Antonio Adams. Prior to creating Village Scholarships, Antonio Adams had lost his scholarship. Antonio was unable to participate owing to an injury on an athletic scholarship.
His financial difficulties pushed him to create more effective methods of paying for schooling. He began researching Crowdfunding sites but felt that the more traditional approaches were lacking in something. Tasha, Antonio’s sister, assisted him in establishing Village Scholarships.
The program’s goal is to speed up the scholarship application process while simultaneously providing a venue for students to get microloans.
The goal is to create an online marketplace where scholarship organizations, as well as friends and family, may contribute to students’ educational costs.
Donors and students both create profiles inside the Village Scholarships system, allowing them to contribute and receive funds at any time. Furthermore, all gifts are recorded for tax purposes.
Village Scholarships is currently in its early stages. They’re beta-testing website designs and offering free “premium services” to the first 500 consumers.
What Happened to Village Scholarships at Shark Tank pitch?
Tasha and Antonio Adams propose Village Scholarships, a new idea for supporting students in discovering scholarship funds, in Shark Tank episode 707. Village Scholarships is a startup in need of funding, and they’re searching for a Shark to help them get started.
Tasha and Antonio appeared on Shark Tank in seeking of $125,000 in return for a 10% stake in their company, worth $1.25 million.
Acceptance to college was a big deal, but paying for it has been a nightmare. Crowdfunding is their solution. Users create a profile to share with family, friends, and their whole social network to help with fundraising.
Village Scholarships keeps 8.5 percent of any money donated. Their website was still in its early stages.
Robert claims that this was a contribution mechanism. According to Sacca, persons close to the user did the majority of the funding. Antonio claims that the competitive advantage was gained by “angels” matching money.
The Sharks were curious about how Tasha and Antonio paid for their college educations. Tasha was awarded a full academic scholarship for her schooling, whilst Antonio was forced to forego a basketball scholarship owing to injuries.
Robert does not trust that his friends and family will pay an additional 8.5 percent to supply money, and he does not feel that it will work; hence, he exits.
Mr. Wonderful has dropped out of the HoneyFund and PlumFund competition platforms. He went out.
Lori felt it was too soon, so she exits. Sacca likes their ideas, but they need to be better integrated; he’s out.
Mark communicates his need for a measurable outcome and exits. Finally, they departed the pitch without reaching a deal.
What Happened to Village Scholarships After Shark Tank?
The Village Scholarships concept appears to have withered due to Sasha and Antonio’s apparent lack of attention. The firm failed because it lacked a Shark Tank investor and a solid business model to expand on.
The website was no longer operational, and the social media profiles had been dormant for about a year.
The concept was doomed from the start due to the availability of other crowd-funding sources.
While the notion of crowd-funding tuition is not new, as demonstrated by HoneyFund and PlumFund, the competition in this space was fierce, and it was vital to bring something unique to the table.
This concept would have required a community to bring it to life, but it appears that the support was just not there. This company went out of business in 2016.
Competitors of Village Scholarships
Blugold was Village Scholarship’s main competitor.
Net Worth of Village Scholarships
During and after the pitch, the firm was valued at $1.25 million. Since then, the company has gone out of business, and thus the net worth of the company is unknown.
Village Scholarships FAQs
What was Village Scholarships?
Village Scholarships was a student loan microloan initiative that gives money to those who have received a scholarship. The idea is to increase the amount of financing accessible to persons who want to pursue an education, whether in business or engineering.
Who was the founder?
Antonio Adams was the founder of Village Scholarships.
What was Antonio’s offer on Shark Tank?
Antonio was seeking for $125,000 for a 10% stake in the company on Shark Tank. The firm was worth $1.25 million.
How much money did they get on Shark Tank?
Shark Tank did not make them an offer.
Is Village Scholarships still in operation?
The company went out of business in 2016.
What was the total number of persons engaged in Village Scholarships?
Village Scholarships was created by Antonio Adams and his sister Tasha.
What is Village Scholarships’ vision?
Village Scholarships will provide a broader range of individuals with increased access to education. Students will be able to obtain an education without incurring debt, and additional funds will be made accessible through scholarships and grants supplied by non-profits and entrepreneurial organizations.
Where was Village Scholarships located?
Village Scholarships is a Chicago-based organization.
What are Village Scholarships’ products and services?
Village Scholarships’ only offering is educational finance in the form of scholarships. They will match students’ donations one-to-one and will not charge any fees.
Who was Village Scholarships’ intended audience?
Village Scholarships’ target market consisted of students and benefactors. Students may create a profile, discuss their accomplishments, and apply for assistance. Donors might then make a direct contribution to their scholarship campaign.
What were the advantages of Village Scholarships?
The most significant advantage of Village Scholarship is that it allows donors to provide money directly to the students they desire to help. This was not accomplished by previous Crowdfunding initiatives.
Village Scholarships was it a scam?
Village Scholarships was not a fraud, but rather a legitimate enterprise. In 2016, it went out of business.
Was Village Scholarships ever shown in reality television?
Village Scholarships were highlighted on Shark Tank Season 7 Episode 707.
How did Village Scholarships generate revenue?
Village Scholarships profited directly from donations received.
Was Village Scholarships a for-profit or a non-profit organization?
Village Scholarships was a for-profit organization.
What happened to Antonio Adams?
Antonio Adams is presently the Founding Partner of Loan Adventures LLC, a non-profit company. This non-profit in Chicago provides mentorship and assistance to young professionals.