SEBASTOPOL, Calif., May 24, 2016 /PRNewswire/ -- After ten years of success with their hugely popular online wedding registry, Honeyfund co-founders Sara and Josh Margulis are continuing to delight customers looking for fresh and exciting gift registry and crowdfunding solutions.
On the season finale of Beyond The Tank last Friday, May 20, the couple surprised Shark Tank investor Kevin O'Leary with the news they were planning to cut 60% of Honeyfund's revenues by offering their premium product, Honeyfund Elite, free. Despite Mr. O'Leary's extreme caution, the couple announced Friday they will go ahead and offer the powerful customization and design tool at no charge to users of the new Honeyfund App, for a limited time.
"We know offering Elite at no charge is right for our customers – and it will ultimately be right for our business," said CEO Sara Margulis, who explained in the episode how other revenue streams, including partnerships, will at least double with the change, exploding Honeyfund's already exponential growth. "With the new Honeyfund App, free design customization with Honeyfund Elite, and national partnerships that bring convenience and discounts to cash-strapped couples and their wedding guests, we will continue to lead the way toward the wedding of the future."
Later in the episode, Mrs. Margulis sat down with Mr. O'Leary and Huffington Post co-founder and Editor-in-chief Arianna Huffington to discuss a potential partnership between Plumfund and The Huffington Post. Following that meeting, Plumfund is proud to announce the addition of a Divorce Registry to their campaign category offerings.
Despite the staggering national statistic that 50% of marriages end in divorce, the newly divorced still find themselves isolated and financially drained. Plumfund allows friends and family to help with the costs associated with dissolving a union—such as legal fees, setting up new households and more. Plumfund's simple divorce registry offers an easy way to support someone in need.
"Divorce brings profound changes to families, friendships, careers and finances -- to say nothing of the emotional well-being of those going through it," said Arianna Huffington. "The need to open up the conversation around divorce was the reason we launched our dedicated HuffPost Divorce section in 2010, and with Plumfund's Divorce Registry, Sara and Josh have an amazing opportunity to take it even further by helping people navigate this time and find the support they need."
In addition, Ms. Huffington invited Plumfund users in all categories to tell their stories on the HuffPost blog. The partnership launched with a heartwarming Giving Tuesday series last year, and select Plumfund campaigners in all categories are invited to write for the HuffPost on an ongoing basis. In return, HuffPost Bloggers can now find a link to Plumfund in the resources section of the HuffPost blogging platform, and the ability to link their Plumfund campaigns to their blog posts, where readers simply click to contribute.
Honeyfund and Plumfund users have received nearly $400 million to-date—representing life changing gifts and experiences funded by friends and family near and far. Today, Honeyfund is the #1 wedding registry app and the #7 most-used wedding registry in the U.S.
About Honeyfund/Plumfund: Honeyfund was launched in 2006 after founders Sara & Josh Margulis discovered their own wedding guests enthusiastically preferred giving experiences and memories over housewares, sending them on a dream honeymoon in Fiji. In 2014, the Margulies's appeared on ABC's Shark Tank and won a deal with Kevin O'Leary, aka "Mr. Wonderful." They used the investment to grown sister-site Plumfund, which expands Honeyfund's capability to other life events and fundraising needs, without the typical 5% crowdfunding platform fee. They have also expanded Honeyfund's registry capabilities, including all types of wedding gifts such as charity, home down-payments and anything on the web. In 2015, the company partnered with the nation's top retail registries to offer one-stop giving. With the addition of Fondo de Miel, Honeyfund in Spanish, wedding couples and guests in 17 Latin American countries can now use registry service.
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