You see it every Friday night. A founder walks onto Shark Tank, scores a handshake deal, and you think, They made it! But here’s the street-level truth: a deal on camera is just the start. What actually happens when the lights go off? RewardStock’s turn on Season 10 was a clinic in how real founders win, pivot fast, and sometimes ride that wave straight to an exit—without becoming the next big thing you think you’ll recognize every time you book a flight.
Let’s cut through the Shark Tank hype and get into what really happened with RewardStock—how Jon Hayes sold his vision, what the business was worth, the aftermath, and what an entrepreneur should steal from this story.
What Was RewardStock?
RewardStock wasn’t promising to make anyone rich overnight. Instead, it told regular travelers, Give us your rewards points—we’ll show you how to travel smarter. The big pitch: you’ve got credit card, hotel, and airline points scattered everywhere; RewardStock would pull them together, crunch the math, and map out trips that cost you peanuts.
Jon Hayes was the founder—the kind of operator who put in his own cash, didn’t mind chasing investors, and built the tech from personal pain points. He knew most people left free travel on the table. His answer? Build a stock exchange for points so travelers could maximize—or finally use—the rewards they’d earned.
The idea wasn’t flashy in a Scrub Daddy look-at-this-foam way. It was all about utility. If you collect points, you get it. Hayes wasn’t selling another water bottle—he was selling you back money you didn’t know you’d lost.
Shark Tank Pitch: Big Ask, Bold Show
Now, let’s talk about that Shark Tank pitch—that moment in Season 10, Episode 6, where Jon Hayes rolled up with a $200,000 ask for just 5% of his company. That’s confidence, maybe even a little audacious. But he stood out.
He didn’t just run through revenue numbers; he booked a literal Hawaiian vacation to show the concept—then rolled out hula dancers and a fire juggler. I’ve seen pitch rooms get sleepy. Hayes woke the Sharks up. The message wasn’t look how clever I am with points, but if you think this is clever, imagine millions of clueless travelers who want THIS.
That’s how you separate from the noise. And if you want to play in the Shark Tank, you need more than a solid idea—you need a show. Hayes knew it.
How RewardStock Made Money
Let’s be real: points apps aren’t cash machines from day one. But the business model here was clean and honest. RewardStock had two main levers:
- Annual membership (about $29-$30 per year)
- Referral commissions (especially when users opened new credit cards through the platform)
They started free to reel folks in, then monetized as value got proven. Revenue was modest at the time of the show—$50,000 off 10,000 users in two years. Hayes put in his own $20K, and before he hit TV, he’d already raised $700K at a $3.5 million cap.
You might look at the numbers and think, Not unicorn territory. But as an operator, I respect steady grind and testing the model before scaling. You get too greedy, you set yourself up for a flop. Hayes kept it lean, let proof-of-concept drive the pitch, and used other people’s money to test for big scale.
What Was RewardStock’s Net Worth?
If you’re a founder, this is where the Shark Tank effect really reveals its cards. On air, RewardStock claimed that $3.5 million pre-money valuation. After the deal and all the exposure, they scored a call from industry giant Experian, who wanted in. The real payday came not in consumer subscriptions, but a clean buyout.
Exact numbers on that exit? Super hush-hush. But real ones know: when a company gets bought by a giant within a year of a Mark Cuban deal, the founders aren’t sleeping on couches anymore. Hayes got a seat at Experian, and RewardStock’s value went up—not from a viral product, but by plugging a gap in a big brand’s tech stack.
Was it a unicorn exit? Nah. But if you measure net worth by founder freedom, credibility, and what else you get to build, this was a solid play.
Shark Tank Negotiations: Who Bit, Who Passed
I’ve seen plenty of sharks get cold feet when early-stage startups pitch big upside and low current sales. Kevin O’Leary offered $200,000 for 10%. That’s Mr. Wonderful being, well, wonderful.
Mark Cuban saw something more and played it smart: he offered $320,000 for 10% and threw in a 1% advisory kicker. He was cool about working with the existing $700K convertible note, too. That’s how deal-makers move—match the founder where they are, but keep a piece big enough to care.
Some sharks—Lori Greiner, Barbara Corcoran, and Sara Blakely—didn’t bite. They either didn’t get fired up about the space or wanted more traction. That happens. Not every shark is right for every space. In my view, Hayes picked the right one. Cuban wants platform companies that can plug tech into other systems or build networks. RewardStock fit the bill.
Hustlers should remember: it’s not about getting all sharks to say yes—it’s about finding your shark.
Experian Buyout: Where Did RewardStock Go?
Now let’s pull back the curtain on the buyout. While most TV viewers remember the big pitch, entrepreneurs should care about the exit. In November 2019, Experian scooped up RewardStock. Hayes took his team in-house, and suddenly the mission wasn’t serving every points nerd in America—it was supercharging Experian’s digital product lineup.
The RewardStock app? Sunset. The tech? Absorbed into a financial giant’s offerings, repurposed for reaching millions in a new way.
If this sounds familiar, it’s because it happens in tech over and over. Sometimes founders want to run the marathon… sometimes a strategic buyer offers you a shortcut and a fat check.
Yes, the fans lost their go-to points-planner. Yes, some side-hustlers probably wish it stayed indie. But for the founder, this was a get out while the getting’s good kind of play.
What Happened to the Product?
After the buyout, the lights dimmed on RewardStock’s stand-alone brand. No new users, no post-acquisition spinouts, no version 2.0 with a slicker UI.
Now, try to visit the RewardStock website—it’s smooth as a brick wall. The only traces left are press clippings and a few old explainer videos. Most of the smarts and code live somewhere inside Experian’s ever-expanding playbook. That’s the life cycle: indie, get noticed, get bought, then vanish from the consumer map.
This isn’t a failure. It’s reality in tech. Lots of great ideas get rolled up and never see sunlight again. But the right founder gets paid to pass the torch.
Lessons from the RewardStock Story
Here’s what any hustler or founder should clock from this story:
- Don’t Be Afraid to Entertain: Hayes made his pitch about more than numbers. Showmanship matters in the pitch room.
- Build to Sell—Or To Stay: Know if you want a long-term hustle or a high-value exit. RewardStock picked a lane and never swerved.
- Traction Isn’t Everything: $50K revenue seems tiny. But clear value and a huge potential market get sharks to move.
- Know Your Shark: Don’t force a marriage with the wrong investor. Mark Cuban was the obvious fit, not just the flashiest check.
- Exits ≠ Ongoing Independence: Most founders don’t stay forever after a buyout. If you want to run your thing solo for 10 years, know what you’re risking.
Media Boosts You—If You Use It: Shark Tank is a rocket booster, but only for founders who know how to keep the heat up after airtime.
Honestly, the best lesson is to learn when to let go and bank the win. Passion is great, but so is payoff.
Bottom Line: Is There a Second Act?
Is there a RewardStock 2.0? Don’t count on it. The brand is mothballed, the tech went corporate, and there’s zero sign of a comeback.
But here’s the playbook: RewardStock went from scrappy startup, to Shark Tank winner, to seven-figure exit in a few smart moves. For would-be copycats: don’t look for a reboot; look for the next pain point millions face—and solve it in a way that makes the big players drool.
Cuban got his upside. Hayes got his freedom and a fat validation stamp. The users got a short ride, then the product folded into the financial matrix. Welcome to how real-world Shark Tank deals usually finish.
For folks who track post-Shark Tank fates, remember: the cameras cut, but the hustle runs deep.
Check out more breakdowns like this at SharkWorth—where we pull back the curtain on every headline deal and show you how real money moves.
FAQs
Is RewardStock from Shark Tank still in business?
No, RewardStock was bought out by Experian, and the standalone product has shut down.
Did Mark Cuban’s deal with RewardStock close?
Yes, the deal closed and paved the way for that big Experian acquisition.
Can new users sign up for RewardStock or its app?
Not anymore. No signups since Experian pulled the tech into its own house.
How much was RewardStock worth after Shark Tank?
No public numbers, but it was valued at $3.5 million pre-Shark Tank, then sold within a year.
What happened to Jon Hayes after RewardStock’s sale?
Hayes joined Experian post-sale, helping to plug the RewardStock technology into their platform.
Where did RewardStock make its money?
Mostly via referral fees and a $30/year membership—real, bread-and-butter startup revenue.
Will RewardStock relaunch or come back as a new product?
No relaunch, no revival. Experian owns the game now.
What’s the main lesson for entrepreneurs from this story?
Chase the deal, but know the exit could mean handing over your baby—and sometimes, that’s the win.
