Swimply Net Worth
At the time of Swimply’s appearance on Shark Tank, the company’s net worth was estimated to be $6 million. This valuation was based on the company’s revenue and growth potential, as well as its unique business model and position in the market.
However, since then, Swimply has experienced exponential growth, expanding to multiple markets and raising significant venture capital.
As of June 2021, Swimply was earning around $1 million in monthly revenue and had raised $10 million in funding to further develop its technology infrastructure. As a result, it’s likely that the company’s net worth has increased significantly since its Shark Tank pitch.
What is Swimplyand What happens to Swimply at the Shark Tank pitch?
Swimply is a platform that offers people the opportunity to rent private swimming pools on an hourly basis.
Founded by Bunim Laskin at the age of 20, the service allows individuals without a pool to enjoy a private pool experience and enables pool owners to earn money from renting out their underutilized pools.
Initially, Laskin used Google Earth satellite images to list the pools of his neighbors but soon dropped out of college to focus on growing his business. Swimply inspects and approves only selected pools to be listed on the platform, and renters can book them for hourly rates ranging from $40 to $300. The company charges pool owners a 15% commission on rental fees, while renters pay a booking fee.
Swimply aims to provide an affordable and private pool experience for renters, while also helping pool owners recoup some of their expenses. Liability waivers are currently required for both parties, but Swimply plans to add more liability protection in the future.
The founder of Swimply, Bunim Laskin, pitched his company on Shark Tank, seeking $300,000 for a 5% stake. However, the Sharks were unimpressed by the $215,000 revenue and did not invest. Despite this setback, Swimply expanded to Australia by November 2019.
Swimply Shark Tank pitch
Following their appearance on Shark Tank in March 2020, Swimply experienced exponential growth, with revenue increasing by 4,000% due to the Covid-19 pandemic’s impact on public pools and beaches. As of May 20, 2021, Swimply operated in 125 markets in the US, two markets in Canada, and five markets in Australia.
In June 2021, Swimply secured $10 million in venture capital funding, which they plan to use to improve their technology infrastructure. The company was earning roughly $1 million in monthly revenue at the time.
The net worth of Swimply
Swimply net worth at the Shark Tank was $6 million.
Competitors of Swimply
Surprise Pool Party is the biggest competitor in the market.
others include; Vezeeta, FareHarbor, and TravelPerk.
FAQs of Swimply
What is Swimply?
Swimply is an online marketplace where you may rent a private swimming pool for a staycation. Homeowners with a swimming pool can rent out their pool on an hourly basis to individuals or groups.
Reservations can be made via the Swimply mobile app for Android or iPhone, or by visiting swimply.com.
The Swimply platform handles all communication, facility selection, and payment. In the United States, hosts are protected by a $1,000,000 insurance policy.
Swimply is presently available in the US, Canada, and Australia.
Who founded Swimply?
Bunim Laskin is the founder.
Where is the headquarters of Swimply?
Swimply is headquartered in Los Angeles.
Who is the owner of Swimply?
Bunim Laskin is the founder and CEO of Swimply.
Did Swimply get a deal on Shark Tank?
Swimply didn’t get a deal with the Sharks, but they’ve kept growing their listings into new cities and are likely seeking for investors.
How does Swimply make money?
Swimply takes a 15% commission when you agree to a booking.
What episode was Swimply on Shark Tank?
Swimply was featured on season 11 Episode 15.
When did Swimply launch?
Bunim soon realized he had a potential business on his hands and set out to launch Swimply in the summer of 2018.
How did Swimply start?
Bunim Laskin, the founder of Swimply, says he got the concept for the company after purchasing his first home with a pool in 2018.
He added that friends and family members had begged to use the pool, and he was unsure how he could organize their trips without exposing himself to risk.
Is it possible for me to make money by renting out my pool?
Given the opportunities offered by today’s sharing economy, renting out your swimming pool can bring additional cash.
Swimply is a pool-specific Airbnb or HomeAway.
It provides a digital marketplace where residents may hire out their pools by the hour.
What industry is Swimply in?
It is an online marketplace industry.
Is Swimply a scam?
Swimply is not a scam. However, the Sharks have been known to consider those working from home as being ‘scammers’ by their nature.
Owners of swimming pools can be a target audience.
They are not usually looked at as legitimate business users and therefore may be considered as high-risk investment for sharks.
How does it work?
The company is looking to make money by charging a 15% commission fee for booking the pool owner’s listing.
What happen to Swimply after shark tank?
On March 13, 2020 where it got increased as the number of users more than double as a result.
Is Swimply still in business?
Yes, Swimply is still in business.
Do the sharks like the business?
The Sharks may like the opportunity provided by Swimply, but they may not be willing to accept the risk associated with its business model.
The fact that homeowners are renting out their own pools creates a liability issues that can be very expensive to deal with.