Plunge Pool Shark Tank Net Worth-What Happened To Plunge Pool After The Shark Tank?
What Is A Plunge Pool? Who Is The Founder Of Plunge Pool?
A plunge pool is a large tub with a cooling element and filtration that can be used for cold therapy. It is set to a temperature of 39 degrees and can also be used as a hot tub with temperatures up to 103 degrees.
The Plunge is one example of a plunge pool, which comes in three models: The Plunge, the XL, and the commercial-grade version.
Michael and Ryan are the founders of Plunge, a company that produces affordable home plunging spas for cold therapy. Michael is the owner of Reboot Float & Cryo Spa, and Ryan is the owner of Capitol Floats, both located in the San Francisco Bay area.
When their businesses were shut down in March 2020 due to COVID-19, they decided to create a more affordable option for home plunging spas with Michael’s father’s help.
The Plunge Tub was born, which triggers the production of norepinephrine in the body that helps regulate attention, focus, and energy. In Shark Tank, they sought $1.2 million for a 5% stake in their company.
What Happened To Plunge Pool At The Shark Tank?
Plunge is a cold plunging tub that was pitched on Shark Tank in Season 13, Episode 21. The founders, Michael Garret, and Ryan Duey, were seeking $1.2 million for a 5% stake in their company. They explained their products.
In the Shark Tank pitch, Kevin made an offer of $1.2 million for an 18% stake in the business. However, his offer was contingent on immediate distribution, which did not sit well with Lori. As a result, she decided to opt out.
The other sharks expressed interest in investing but were primarily concerned with the company’s inventory. Barbara proposed a deal of $1.2 million for a 20% stake, with half of the investment being a loan.
Robert countered with an offer of $2.4 million for the same equity stake, also with half of the investment being a loan.
Mark made an offer of $1.2 million for a 15% stake and promised to fund purchase orders. After some negotiation, the entrepreneurs counter Robert’s offer at a 10% stake.
Robert raised his offer to 12%, but Mark refused to budge. In the end, they went ahead with Robert’s offer.
Summary Table: Plunge Pool Shark Tank
| INFORMATION | DETAILS |
| What is a Plunge Pool? | A large tub with cooling element and filtration used for cold therapy or hot tub. |
| Founder of Plunge Pool | Michael Garrett and Ryan Duey |
| Plunge Pool Shark Tank | Season 13, Episode 21 |
| Amount sought on Shark Tank | $1.2 million for a 5% stake |
| Valuation on Shark Tank | $24 million |
| Shark Tank offer | Robert Herjavec offered $1.2 million for 18% equity |
| Plunge Pool Net Worth | Not available |
| Plunge Pool Status | Still in business and growing slowly |
| Plunge Pool Updates | Still trying to close the deal with Robert Herjavec. Currently facing maximum shipping times of over 10 weeks for one product. |
What Happened To Plunge Pool After The Shark Tank?
Robert Herjavec made a deal with them on the show, but as of February 2023, there is no evidence that the deal closed. According to BizzBucket.co, Plunge had sales of $4.9 million in one year. However, reliable revenue figures are currently unavailable.
As of September 2022, Plunge was still hoping to close the deal with Robert Herjavec. Cold plunging has many benefits including increased energy and physical recovery.
The plunge can adjust cold water temperature and arrange for the perfect bath that a human aspires to take. It is known to reduce stress and depression with the added benefit of filling the user with freshness.
According to SharkTankTalks.com, Cold Plunge is growing slowly since 2020 and its founder claims that he is offering this product to consumers at an affordable price. They initially made 20 plunges which were sold out in a few months.
After increasing demand, they opened their factory in Sacramento and started manufacturing the product. Currently, they are facing maximum shipping times of more than 10 weeks for one product which does not bode well for their business growth.
Plunge Pool Shark Tank Net Worth
Plunge is a company that produces cold therapy tubs for athletes and individuals seeking to reduce inflammation. Michael and Ryan, the founders of Plunge, entered Shark Tank seeking $1.2 million for a 5% stake in their company, which has a valuation of $24 million.
The Sharks were shocked by the high valuation but impressed by the sales figures – $4.9 million in one year. The cost of each tub is $2400 including shipping, and the model on set sells for $4800.
There is no information available on the net worth of Plunge or its founders. However, it is known that they were seeking investment from the Sharks to help build inventory and expand their business globally.
Is Plunge Pool Still In Business?
Plunge, the company featured on the popular ABC show Shark Tank, is still in business and going strong. The company originally made a deal with Robert Herjavec, one of the sharks from Shark Tank, which has certainly helped propel Plunge forward.
The company now offers its original product featured on the show as well as commercial tubs and a pro version. With Robert’s guidance and help, Plunge is set to reach even greater heights.
Plunge Pool Shark Tank Updates
Plunge is a cold plunging tub that was presented on Shark Tank in season 13 episode 21. The product was created by Michael Garrett and Ryan Duey, who wanted to make cold plunging more affordable.
Cold plunging is the act of getting into cold water to cold shock the body, which has many benefits, including increased energy, resilience, and physical recovery. Plunge offers clean filtered water and eliminates the need to buy 40 pounds of ice.
During their pitch on Shark Tank, Michael and Ryan asked for $1.2 million for a 5% stake in their company. The Sharks were shocked by the high valuation, but Robert Herjavec made an offer of $1.2 million for 18% equity.
Lori Greiner went out because it wasn’t right for her, and Barbara Corcoran made a counteroffer to Robert at 10% equity, but the lowest he would go was 12%. In the end, Michael and Ryan made a deal with Robert for $1.2 million cash and a $1.2 million loan for 12% equity.
As of September 2022, the deal between Plunge and Robert Herjavec has not been closed yet. However, Plunge has been gaining popularity in the market and has achieved successful sales figures.
Plunge offers commercial tubs and a pro version along with the original Plunge featured on Shark Tank. The company has opened a factory in California and is now sending Plunges all around the world.
How Does Plunge Pool Shark Tank Work?
Plunge is a cold plunge tub that allows users to adjust the temperature of their ice bath to their liking. Cold plunging is the act of getting into cold water to cold shock the body, which has many benefits, including increased energy, resilience, and physical recovery.
The plunge was created by Michael Garrett and Ryan Duey after they realized how expensive home plunging kits could be. Plunge is an affordable cold plunging tub that provides clean filtered water and eliminates the need to buy 40 pounds of ice.
In Shark Tank Season 13, Michael and Ryan asked for $1.2 million for a 5% stake in their company. At the time of filming, Plunge was one year old and had $4.9 million in sales.
The Sharks were impressed with the product and its sales figures, but some were hesitant due to the high valuation. Kevin O’Leary made an offer of $1.2 million for 18% equity, while Lori Greiner went out because it wasn’t right for her.
In response, Barbara Corcoran and Mark Cuban made a counteroffer to Robert Herjavec at 10% equity, but the lowest. Robert ultimately accepted the deal, providing $1.2 million cash and a $1.2 million loan for 12% equity.
Plunge is available in two models: the Plunge Tub and the Pro Plunge Tub. The Plunge Tub costs $4,990 and is designed for home use, while the Pro Plunge Tub costs $6,490 and is designed for commercial use.
The Pro Plunge Tub comes with a more robust pump and a commercial warranty. The plunge has been successful in achieving sales figures, and the company has opened a factory in California to send Plunges all around the world.
What Are The Benefits Of Using Plunge?
Cold plunging, or submerging your body in cold water for an extended period of time, has been shown to have several benefits for the body and mind.
One of the most important benefits is building mental resilience and discipline, as consistent exposure to cold temperatures allows the mind to get comfortable in a state of discomfort, which can improve its ability to handle stress.
Cold plunging can also increase energy levels, boost mood, and improve sleep. Additionally, it can trigger hormesis, which is the process by which the body adapts to stressors and becomes stronger.
Cold plunging has physical benefits as well. It can speed up physical recovery and improve muscle performance. It has also been shown to reduce inflammation and upper respiratory tract infections.
Furthermore, cold plunging can increase dopamine levels, which is the molecule in our brain and body that is linked to motivation. This can enhance our depth of focus and lower our threshold for taking action toward our specific goals.
While cold plunging has many benefits, it is important to keep safety in mind before starting. Risks of cold plunging can include hypothermia, so it is recommended to start in the 67 to 68 degrees Fahrenheit range and to consult with a healthcare professional if you have any preexisting conditions.
How Has Plunge Pool Grown Since Appearing On Shark Tank?
Plunge, a cold plunge tub, appeared on an episode of Shark Tank in May 2022. Plunge received a boost in sales after appearing on the show.
The plunge was created in March 2020 after Michael’s shop was shut down due to the pandemic. Michael partnered with Ryan and made countless improvements to the product before opening a factory in California.
Plunge is currently facing shipping delays, with one product taking more than 10 weeks to ship. It is unclear if the company has received funding from the Sharks or if they are still seeking investment.
Nonetheless, Plunge and other brands in the cold plunge industry, such as Blue Cube and Renu Therapy, are seeing consistent sales growth.
What Is The Current Valuation Of Plunge Pool After Shark Tank?
Plunge is a company that produces cold therapy tubs for athletes and individuals seeking to reduce inflammation. The company was founded by Michael Garrett and Ryan Duey, and it officially launched in 2020, operating out of Michael’s garage.
In 2021, Plunge appeared on Shark Tank seeking $1.2 million for a 5% equity stake. Robert Herjavec made a deal with them on the show, offering $2.4 million in exchange for 12% equity, out of which $1.2 million would be shared as a loan amount. As of 2023, there is no evidence that the deal closed.
During the Shark Tank pitch, the founders of Plunge came up with a valuation of $24 million, which Robert Herjavec brought down to $10 million. However, with Robert’s recent investment, the company is valued at $24 million.
The plunge has not released any recent sales figures, but they made a whopping $4.9 million in revenue a year after launching the startup.
The plunge has expanded its product line since appearing on Shark Tank, selling pro versions and commercial cold plunges. The company’s estimated net worth is around $24 million. Plunge is still in business and growing slowly since 2020.
