This Couple Turned Their Honeymoon Into A Multi $Million Platform

This Couple Turned Their Honeymoon Into A Multi $Million Platform
May 20 06:00 2016 Print This Article

Honeyfund’s #1 online wedding gift registry makes it easy to give and receive the perfect wedding gift — one that reflects your unique style and makes giving fun for your wedding guests! I had the privilege of speaking with Sara Margulis the founder of Honeyfund to discuss the company’s advantage over all other gift registries, and to hear about Plumfundwhere you can feel good by giving towards many occasions. Here’s what we discussed: (Psst- don’t forget to catch their episode of Beyond The Tank Tonight 5/20/16!)


Jay: There are so many gift registries out there, can you tell me a little about what makes Honeyfund so different?

Sara: You’re definitely right that there are many other gift registries out there, but there is not a single one like Honeyfund. We’ve found that people enjoy the opportunity to have the biggest trip of their lives a lot more than your typical gift from a store registry, and that’s what sets us apart. With Honeyfund, instead of giving gifts like pots and pans, you can give an incredible experience that they’ll remember for the rest of their lives.

Jay: What has been the response over the last 10 years since you started?

Sara: Let me put it to you this way Jay- we have 6.4 MILLION viewers a year who come to give money to fund their friends and relatives experiences. And get this- unlike most other businesses in today’s generation, we’re hardly on social media. We’ve found that people like to keep their wedding experience extremely close knit. They send out their invites to a close group of family and friends to keep it private. Yet because people are so excited about the opportunity to experience something they’ll remember for the rest of their lives, we’ve become the most powerful tool in the wedding registry space.

Jay: So you have minimal exposure on social media, you’re competing with well known registries and you have millions of people coming to your site. How did you figure out this amazing niche?

Sara: As the saying goes- ‘necessity is the mother of invention’. When Josh and I got married we had almost everything we needed. What we were missing was the ability to go on a honey moon of our dreams, and since we paid for the wedding ourselves there wasn’t much money left in the budget for that kind of experience. So Josh who was a systems engineer at Adobe Systems, and I decided we would create a page that we could send out to some family and friends where people could donate towards our honeymoon instead of to the typical store registry. We were surprised to find out that within a short period of time we received over $5000.00! So many people emailed us that they thought the idea was so impressive that they insisted that we make it for others. So we got to work and Honeyfund was born, and to date we’ve raised for our couples over a whopping $355 MILLION, which has created hundreds of thousands of amazing experiences!

Jay: What’s next on the horizon for Honeyfund?

Sara: Seeing how people were so inspired by the ability to “crowdfund” for experiences we decided to take our concept one step further, and that’s when we created ‘Plumfund’. There are so many moments in life like birthday parties, retirement funds, and even tragedies where so many people actually want to give to feel like they’re a part of it. In fact, we’ve found that giving actually makes people feel good. When someone has a special occasion coming up, or they’re going through a tough time they come to Plumfund to set up an account. Similar to the way Honeyfund works, they can invite family and friends to help donate towards their situation. It’s amazing to see how so many people enjoy doing what they feel is right.

Jay: Sounds like an excellent way to leverage the power of good towards those who need it. How’s that been going?

Sara: Like many great ideas and good causes, there’s a fine line between a charity and a business.

During the next episode of ‘Beyond the Tank’, which is airing tonight 5/20/16, you’ll see how we worked together with Kevin to overcome challenges such as:

  • How to establish enough traffic to allow PlumFund to become profitable to sustain itself.
  • Did we stretch ourselves too thin before dominating the gift registry platform?
  • Can we stay focused on our core business which is Honeyfund, while building out a new one.
  • Finally, to make sure Kevin O’Leary will never look at us and say #YouAreDeadToMe!!

 

Catch a sneak peak at the Beyond the Tank Episode and make sure to catch the full show TONIGHT!


Josh & SaraJosh and Sara are the founders of Honeyfund, which they created to bring couples the opportunity to have the vacation of their dreams. Josh has been a systems engineer at Adobe Systems, with prior experience as a software engineer in the digital imaging and Web-authoring division. Prior to joining Adobe Systems, Josh was a software engineer at Macromedia, Microsoft, and Xerox.  Sara draws from a rich background in online marketing in her role as CEO at Honeyfund.com. She started her marketing career at a wine-industry dot-com in 2000. In 2001 she joined the marketing team at a private San Francisco university where she handled many aspects of the online marketing program, including search engine optimization, e-mail marketing and website content. Sara earned an MBA in marketing from Golden Gate University in 2004.

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