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.

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.