What Happened to Swimply After the Shark Tank Pitch?
What is Swimply?
Swimply is a marketplace for hourly pool rentals that allows hosts to rent out their pools to consumers.
Swimply enables non-pool owners to enjoy the pleasure of having a swimming pool while pool owners generate a passive income from their unused pools.
Who is the Founder of Swimply?
Swimply was founded by Bunim Laskin.
Laskin came up with the notion when he was 14 years old since he believed his outside activities were constrained in his suburban New Jersey home.
He grew up in Israel, where kids had significantly more access to parks and other outdoor activities.
He noticed one day that his next-door neighbour’s pool was only used when her grandkids visited.
He contacted his next-door neighbour and asked if he may use the pool.
Yes, and Laskin’s family agreed to pay her 25% of her monthly maintenance fees, she said (electricity, chemicals, etc.).
Within a few weeks, the neighbours had established similar arrangements with half a dozen other families; she was making money from her pool!
With money saved from his bar mitzvah, he founded his website PoolForU in 2017.
It was a website that connected pool owners with individuals looking for a private pool.
The website became a huge success, and due to the excessive traffic, it crashed fast.
In 2017, Laskin went to Jerusalem for college, but he left early to return to the United States to build Swimply, an app that would allow his initial idea to go nationwide.
His original goals were New York, New Jersey, Pennsylvania, Miami Beach, Los Angeles, Dallas, and Houston.
He currently has over 2000 Swimply host pools scattered around the country, with over 17,000 registered users.
What Happened to Swimply at the Shark Tank pitch?
Swimply inspects each pool for health and safety. A pool is added to the system when it has been verified.
Pools may be hired for $40 to $300 per hour for beautiful, resort-style pools.
Swimply deducts 15% of the rental amount from pool owners and charges renters a booking fee. Renters may enjoy a private pool with a group of friends or family for a very low fee, while pool owners can utilize the app to recuperate the costs of pool ownership.
A 2-hour pool hire is economically priced because the average party size is 6-8 individuals.
For the time being, both pool owners and renters must sign a liability disclaimer.
Swimply anticipates that the insurance problem will be resolved shortly, allowing him to add an extra layer of liability protection.
Laskin envisions his program as the next big thing in sharing economy apps. He understands that swimming with the sharks will help him get there.
Bunim approaches Shark Tank in quest of $300,000 in return for a 5% stake in his firm.
He introduces himself and makes his pitch.
With only $215,000 in income, the Sharks are unimpressed.
Lori states she is unable to invest and hence cannot participate.
Barbara thinks it’s a poor idea, and she’s leaving.
Kevin isn’t coming back since he despises the value.
Mark isn’t prepared to travel with Bunim, so he’s out.
Robert thinks the idea is ludicrous, and he’s the last Shark to go.
What Happened to Swimply After the Shark Tank Pitch?
This was a game that the Sharks could not win.
Swimply made its Shark Tank debut on March 13, 2020, only a week before the Covid-19 pandemic took down the whole world.
Despite the fact that public pools and beaches were closed, private pools remained open.
Swimply’s business increased by 4,000% as a result of the campaign.
As of May 20, 2021, the firm had 125 markets in the United States, two markets in Canada, and five markets in Australia.
In the same month, they secured $10 million in venture capital to strengthen its technical infrastructure.
As of June 2021, their monthly revenue is estimated to be about $1 million.
What is the Net Worth of Swimply?
Swimply net worth at the Shark Tank was $6 million.
Who are the Competitors of Swimply?
Surprise Pool Party is the market’s leading competitor.
Vezeeta, FareHarbor, and TravelPerk are some of the others.
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FAQs of Swimply
Who founded Swimply?
Bunim Laskin is the company’s founder.
Where is the headquarters of Swimply?
Swimply’s headquarters are located in Los Angeles.
Who is the owner of Swimply?
Swimply’s creator and CEO is Bunim Laskin.
Did Swimply get a deal on Shark Tank?
Swimply did not land a contract with the Sharks, but they have continued to expand their listings into other areas and are most likely looking for investors.
How does Swimply make money?
Swimply charges a 15% commission when they accept a booking.
What episode was Swimply on Shark Tank?
Swimply was featured in Episode 15 of Season 11.
When did Swimply launch?
Bunim quickly realized he had a viable business on his hands and set out in the summer of 2018 to start Swimply.
How did Swimply start?
Swimply’s creator, Bunim Laskin, claims he got the idea for the firm after buying his first house with a pool in 2018.
He went on to say that friends and family members had urged him to let them use the pool, and he was unclear how he could coordinate their excursions without putting himself in danger.
Is it possible for me to make money by renting out my pool?
Given the options provided by today’s sharing economy, renting out your swimming pool might provide extra income.
Swimply is a pool-specific Airbnb or Home Away.
It offers a digital marketplace where people may rent out their swimming pools by the hour.
What industry is Swimply in?
It is an industry based on internet marketplaces.
Is Swimply a scam?
Swimply is not a rip-off. The Sharks, on the other hand, have been known to see persons working from home as’scammers by nature.
Swimming pool owners may be a target demographic.
They are not often seen as genuine business users, and hence may be regarded as a high-risk investment by sharks.
How does it work?
The company hopes to profit by charging a 15% commission fee for booking the pool owner’s listing.
What happen to Swimply after shark tank?
It was increased on March 13, 2020, since the number of users more than doubled as a consequence.
Is Swimply still in business?
Swimply is still in operation.
Do the sharks like the business?
Swimply’s chance may appeal to the Sharks, but they may be unwilling to embrace the risk involved with its business plan.
The fact that homeowners rent out their own pools presents liability difficulties that may be quite costly to resolve.