Swimply Shark Tank Update

Swimply Shark Tank Update: Where Is The Company Today?

Fans of ABC’s popular show Shark Tank will likely remember Swimply’s appearance. The startup, which operates an online marketplace for pool rentals, pitched its business to the sharks but ultimately failed to secure an investment.

So, what is Swimply  Shark Tank Update now? Their story is a testament to perseverance even after facing rejection. Swimply’s founders refused to give up on their vision. In the years since their shark tank episode aired, Swimply has proven that one discouraging episode does little to determine the long-term success of an innovative business idea. 

No, what happened to Swimply after Shark Tank? What has Swimply achieved, and where is the company today?

Swimply On Shark Tank Show

When was Swimply on Shark Tank? Bunim Laskin, the founder and CEO of Swimply, appeared on Season 11 Episode 15 of the popular ABC show Shark Tank. The episode was filmed in the fall of 2019 and aired in early 2020.

In the episode, Bunim Laskin, the co-founder and CEO of Swimply, sought an investment of $300,000 from the sharks in exchange for 5% equity. 

Swimply On Shark Tank Show

He explained to the panel of investors how Swimply functions as the “Airbnb for swimming pools,” allowing non-pool owners access to private pools for a reasonable hourly rate. 

Though impressed by the novel business concept and Laskin’s ambitious vision, none of the sharks ultimately made a deal. Some expressed concerns about the legal liabilities of renting pools, while others felt uncertain about the startup’s long-term profitability potential.

Swimply Shark Tank Profile

Now, have a look at the Swimply Shark Tank profile in brief. 

Company NameSwimply Inc
FounderBunim Laskin
Co-FounderAsher Weinberger
FoundedJune 2018
ProductAn online marketplace allowing swimming pool homeowners to rent their pools for hourly rentals to individuals or groups
Asked For$300,000 for 5% Stake
Final DealNo Deal Made
EpisodeSeason 11, Episode 15
SharksNone
Air DateMarch 3, 2020
Business StatusIn Business
WebsiteVisit Website
HeadquartersFar Rockaway, New York
Get the AppApple App Store Google PlayStore
Watch it onAmazonPrimeAmazon
Lifetime WorthApprox $180 Million

What Happened to Swimply After Shark Tank?

Swimply shark tank episode spurred enormous interest from consumers once it aired. Swimply saw a massive surge in new pool listings and users on their platform after appearing on the popular TV show. They quickly added over 1,000 new pools in a short period as awareness of their service grew.

This momentum allowed Swimply to attract venture capital funding post-shark tank. They raised $10 million from investors just seven months after the show. 

What Happened to Swimply After Shark Tank

Swimply founders focused on continuously expanding their pool listings across different regions. By 2021, Swimply facilitated over 50,000 monthly bookings and had listings for 25,000+ pools. Their annual revenue grew to $30 million with $5 million in profit. 

Major tech company Airbnb also recognized Swimply’s success and invested $40 million in them. The company has seen over $60 million in funding, projecting an eventual acquisition.

Swimply today has grown massively from its early startup days on Shark Tank. Under Luskin’s leadership, Swimply now has a net worth of $160 million with strong financials. 

Swimply Net Worth

As of 2023, according to recent estimates, Swimply has a net worth of approximately $160 million. This marks a substantial increase from 2019 when their net worth was estimated at just $12 million after appearing on Shark Tank. 

Currently, Swimply boasts over 25,000 pool listings and facilitates 50,000 bookings monthly. 

Swimply Net Worth

Swimply Sales Data

Swimply has experienced tremendous net worth and revenue growth over the past several years. Their net worth has grown from $20 million in 2020 to an estimated $160 million in 2023. That indicates very strong sales. 

More recently, their estimated annual revenue of $20.1 million per year is reportedly still growing at a fast pace of 100% year-over-year, according to their CEO. 

The table below demonstrates that Swimply sales have grown exponentially since they first launched.

YearRevenue
2018$3 million
2019$12 million
2020$20 million
2021N/A
2022N/A
2023$29 million

Is Swimply Profitable Now?

Swimply has seen tremendous growth and success since its appearance on Shark Tank. A key indicator that Swimply is profitable is its exponentially increasing annual revenues. 

As their revenue grew, it became clear their business model was working at scale. Furthermore, Swimply has attracted multiple rounds of funding totaling over $60 million. 

Is Swimply Profitable Now

Investors of that size would not continue pouring large sums into a business that is not profitable or showing a clear path to profitability. The fact that a major industry player like Airbnb has invested $40 million also affirms that Swimply must be executing its strategy profitably. 

Dive into the journey of Shemie and explore the captivating story of Cousins Maine Lobster as they share their post-Shark Tank experiences. Discover how these remarkable entrepreneurs have turned their ideas into thriving businesses and overcome challenges along the way. From the tank to the marketplace, their stories showcase the determination and innovation that define the entrepreneurial spirit.

Conclusion

Swimply’s journey from Shark Tank to its current status is an inspiring story of grit and resilience. Despite the Sharks’ cautious skepticism, the founders of Swimply were determined to make their startup a success. They achieved this through scaling operations and continually expanding their pool listings. 

Their perseverance paid off, and the company boasts a net worth of $160 million with an estimated annual revenue of $29 million US dollars in 2023. It is a success story to aspire to for entrepreneurial founders facing rejection and showcases the limitless potential of innovative business ideas.

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