Millions of students in the United States face crushing student loan debt. This debt totals over $1.4 trillion. To address this, Daniel Stelmach and Nick Skrzyniarz created Changed. Their app helps users pay off student loans using spare change from everyday purchases. They wanted to make paying loans simpler. They entered Shark Tank in Season 9. They asked for $250,000 for 15% equity. They explained how Changed works. Will the entrepreneur get a deal on Shark Tank? Check out the Changed update to find out!
Changed Net Worth Shark Tank Update 2025
Daniel Stelmach and Nick Skrzyniarz asked for a $250,000 investment in exchange for 15% equity in their company. This meant they valued their company at approximately $1.67 million. They made a deal with Mark Cuban for $250,000 in exchange for 25% of their company. This new deal valued their company at $1 million. After the show aired, ChangEd saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of ChangEd is about $2.59 million.
Changed rapidly expanded following the Shark Tank broadcast. More attention was paid to the business. Mark Cuban provided them with a $200,000 convertible note in May 2019. The business kept developing and growing. They won a second investment of $200,000 from Techstars-powered MetLife Digital Accelerator in September 2020.
They were able to enhance their software and broaden their user base thanks to this extra investment. Changed was handling over $2 billion in student loan debt by 2021. Both the app’s feature set and user base had significantly expanded. Changed has so far assisted in the repayment of more than $10 million in student loans. The company’s yearly sales have also surpassed $6 million.
Changed already boasts tens of thousands of users and over 3,500 App Store reviews. The business is still operating today and has made significant progress since its Shark Tank debut. It is evident that Changed has achieved success following the broadcast and is still expanding and assisting students with their student loans.
Yes Changed did get a deal on Shark Tank. Daniel and Nick asked for $250,000 for 15 percent equity in their company. After hearing their pitch Mark Cuban made an offer. He offered them $250,000 for 25 percent equity. Daniel and Nick accepted this deal. They chose Mark Cuban because they believed his experience with technology would help their business. The deal with Mark Cuban allowed Changed to expand and grow much faster.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Alex Rodriguez (Guest Shark) | out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Barbara Corcoran | Out | N/A | N/A |
| Robert Herjavec | $250,000 for 48% equity | N/A | N/A |
| Mark Cuban | $250,000 for 25% | N/A | Yes |
Changed Shark Tank pitch
Daniel and Nick’s personal student finance troubles served as the impetus for founding Changed. Daniel knew the hardship that student loan debt inflicted on people since he had it himself. He was looking for a means to assist those who were facing the same problem. Nick accompanied Daniel on this student-assistance assignment.
They believed that this could be a means of assisting with student loan repayment after learning that consumers use spare change for regular purchases. They began working on the Changed concept. The concept was straightforward. The app would round up purchases to the nearest dollar and put the spare change into an account that would help pay off student loans.
The founders put a lot of effort into creating the app. Daniel and Nick’s personal student finance troubles served as the impetus for founding Changed. Daniel knew the hardship that student loan debt inflicted on people since he had it himself. He was looking for a means to assist those who were facing the same problem. Nick accompanied Daniel on this student-assistance assignment.
They believed that this could be a means of assisting with student loan repayment after learning that consumers use spare change for regular purchases. They began working on the Changed concept. The concept was straightforward. The app would round up purchases to the nearest dollar and put the spare change into an account that would help pay off student loans. The founders put a lot of effort into creating the app.
Nick and Daniel had a specific objective when they joined Shark Tank. They sought funding to support the expansion of their company. They began their presentation by outlining the issue of student loan debt. They discussed how this debt affects millions of people. Changed was then presented as a remedy. They clarified that Changed is a smartphone software that assists users in repaying their college loans.
The way the software operates is by rounding up purchases to the closest dollar and putting the extra change into a loan repayment account. The app’s simplicity and ease of use were highlighted by the founders. Additionally, they demonstrated how the software monitors users’ progress and assists them in keeping up with their payments. They clarified that the app was not intended to serve as the primary method of debt repayment.
Rather it served as a tool to help people advance without completely altering their spending plan. The creators went on to discuss some important data. They claimed to have 1,000 active users and roughly 9,000 downloads. They had previously contributed to student debt repayments of $25,000. They were aiming to reach $100,000 by the end of the year.
They were explicit about the simplicity of their company plan. Users must pay a $1 monthly fee. More than 90% of student loan suppliers had previously been contacted. The founders requested $250,000 in return for 15% of the company. The sharks were interested in the idea but had several questions. They wanted to know how the app would make more money and how the founders planned to grow.
The sharks had several questions about the product. Kevin O’Leary asked how the company made money. Daniel explained that they charge a $1 monthly fee. Kevin was curious about the revenue. He asked if $900 a month was enough to run the business. Daniel admitted it was not. The business was still small at the time. Barbara Corcoran asked about competition.
She pointed out that banks might offer a similar service. She wanted to know how Changed was different. Daniel explained that their app focused only on student loans. No other app did this. Robert Herjavec questioned their valuation. He said the company was not worth $1.6 million. He asked why they believed the valuation was accurate. Nick explained that they believed the company had great potential.
They thought they could grow quickly. Lori Greiner asked about security. She wanted to know if the app was safe for users. Daniel assured her that it was. He explained that they had taken steps to protect user data. Mark Cuban asked how they planned to get more users. Daniel said they needed more marketing. They wanted to increase their user base and expand the app’s features.
The sharks had concerns about the business model. They liked the idea but were not sure it would work on a larger scale. There were concerns about competition from larger companies like banks. Despite these concerns, Daniel and Nick remained confident in their product.
The sharks had mixed responses to the pitch. Barbara Corcoran dropped out first. She said she was worried about competition from banks. She didn’t think the app could compete with bigger companies. Alex Rodriguez dropped out next. He said he didn’t see a large enough market for the product. Lori Greiner also dropped out. She said the valuation was too high.
Robert Herjavec made an offer. He offered $250,000 for 48 percent equity. Daniel and Nick were hesitant. They didn’t want to give up so much control of the company. Mark Cuban then made an offer. He offered $250,000 for 25 percent equity. Mark Cuban believed in the technology behind the app. He thought it had great potential. Daniel and Nick liked Mark’s offer.
They trusted his expertise in technology. After some consideration, they accepted Mark Cuban’s offer. The negotiation process was tough. The founders wanted to keep as much control of their company as possible. But they also understood the value of Mark’s mentorship and experience. The sharks weren’t all persuaded even with their compelling pitch. Barbara Corcoran feared that banks might provide a comparable service.
Changed couldn’t compete with the larger competitors in the industry in her opinion. Alex Rodriguez also didn’t think the market was large enough. He didn’t think there was much room for improvement. Lori Greiner thought the valuation was too high. At the time she didn’t think the company was worth $1.6 million. They backed out of the contract because of these worries. The founder’s income presented another difficulty.
They were only earning roughly $900 per month at the time of the pitch. Some sharks were alarmed by this. The company needed to expand because it was still small. Robert Herjavec offered them a deal but wanted 48 percent equity. This was too much for the founders to give up. They wanted to maintain control of their company.
What Went Wrong With Changed On Shark Tank?
The sharks weren’t all persuaded even with their compelling pitch. Barbara Corcoran feared that banks might provide a comparable service. Changed couldn’t compete with the larger competitors in the industry in her opinion. Additionally, Alex Rodriguez believed that the market was too small. He didn’t think there was much room for improvement. Lori Greiner thought the valuation was too high. She believed that at the time the company was not worth $1.6 million.
They backed out of the contract because of these worries. The founders’ income presented another difficulty. They were only earning roughly $900 per month at the time of the pitch. Some sharks were alarmed by this. The company needed to expand because it was still small. Robert Herjavec offered them a deal but wanted 48 percent equity. This was too much for the founders to give up. They wanted to maintain control of their company.
Product Availability
Changed is available as a mobile app. It can be downloaded from the App Store or Google Play. The app is free to download but users are charged a $1 monthly fee. This fee helps support the company’s operations. The app works by rounding up purchases to the nearest dollar and using the spare change to help pay off student loans. Changed is designed to be simple and easy to use.
It tracks the user’s progress and helps them stay on top of their loan payments. The app is compatible with most student loan providers. The app is only available online and can be downloaded through mobile app stores. Users can also visit the Changed website for more information. The company continues to improve the app and add new features.
One of these features is Friends and Family. This feature allows other people to contribute to a user’s student debt. It’s a great way for users to get extra help with their loans.
Conclusion
Changed is available as a mobile app. It can be downloaded from the App Store or Google Play. The app is free to download but users are charged a $1 monthly fee. This fee helps support the company’s operations. The app works by rounding up purchases to the nearest dollar and using the spare change to help pay off student loans. Changed is designed to be simple and easy to use.
It tracks the user’s progress and helps them stay on top of their loan payments. The app is compatible with most student loan providers. The app is only available online and can be downloaded through mobile app stores. Users can also visit the Changed website for more information. The company continues to improve the app and add new features.
One of these features is Friends and Family. This feature allows other people to contribute to a user’s student debt. It’s a great way for users to get extra help with their loans.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
