Back in season 6 of Shark Tank, my husband and co-founder Josh and I partnered with Kevin O’Leary for our free wedding gift registry, Honeyfund. When we appeared on Shark Tank, we had an impressive 6.4 million visitors a year. We had raised over $200 million for our couples and we were dominating the honeymoon gift registry space. Partnering with Kevin has been a tremendous experience and he has opened so many doors for us. Mr. Wonderful takes a personal interest in our company and he’s constantly coming up with creative ideas to keep the ball rolling.
Contrary to what many people think, scoring a deal with the Sharks is not by any means the “be all end all”. The ability to constantly innovate is the key to a company’s success at any level and in any industry. While we were making strides to continuously bring value to our couples, we knew we had to come up with something new that would give them even more reasons to come back to us.
With our experience running Honeyfund, we’ve seen firsthand that people love to give something different. Many wedding guests are happy to sign into a registry and buy pots and pans. But when they have a chance to give something special, like an experience, they are beyond thrilled. Harnessing this information, we are now launching the first ever universal travel gift- The Honeyfund Gift Card. Since Shark Tank, we’ve built relationships with major travel and experience providers, which has allowed us to create one card that can be redeemed with all of them. When you purchase a Honeyfund Gift Card, you have the opportunity to redeem its value with providers like Hotels.com, Delta Air Lines, Royal Caribbean International, Groupon and much more.
The biggest difference between our wedding registry model and the Honeyfund Gift Card is that we’ve given ourselves the flexibility to sell a product and we’re no longer limited to a specific experience. Until now, visitors who came to our site were only able to contribute to a specific vacation package for couples that were already registered on our site. With the Honeyfund Gift Card, we’ve removed the limitations. Just purchase the card and the recipient can choose on their own what they’d like to redeem it for. In the gift industry, having the ability to buy one product that has value in multiple channels is extremely attractive.
For us, the Honeyfund Gift Card isn’t just a new product, it’s a way to innovate into a completely different model by harnessing the same user base and principles that we’ve had success with over the years. We’re thrilled to give our customers another reason to keep coming back. We’re excited to see what lies ahead and we’re looking forward to being able to bring amazing experiences to consumers around the world!
Sara Margulis is a wedding- and crowdfunding-industry CEO and lover of all things wedding, gifting, and travel. Sara and her husband Josh started Honeyfund after their own wedding when guests contributed more than $5000 toward their dream honeymoon in Fiji. Sara’s background in business and marketing combined with Josh’s expertise as a software engineer have made Honeyfund the #1 online wedding registry. The couple is now using a Shark-Tank investment from Kevin O’Leary to expand both in weddings and beyond, with Plumfund, online crowd-gifting for all of life’s occasions. Both services offer 100% free options and the lowest third-party credit card fees in the industry. Their top priority is to make giving feel good! Sara is considered an expert on wedding gift etiquette, crowd gifting, entrepreneurship and women in leadership roles. She also enjoys speaking to inspirational topics like corporate philanthropy and work-life balance.