Last Updated on October 4, 2023 by Benjamin Mulany
In the ever-evolving landscape of the sharing economy, where innovative ideas continue to disrupt traditional industries, Swimply has made quite a splash. This unique platform allows users to rent swimming pools by the hour, akin to the Airbnb model but for swimming pools.
Dive with us as we explore the intriguing journey of Swimply net worth, which, as of 2023, stands at a staggering $160 million.
|Entrepreneurs||Bunim Laskin, Asher Weinberger|
|Net Worth||$160 million|
|Annual Revenue||$29 million|
|Annual Profits||$5 Million|
|Investors||GGV Capital and Nathan Blecharczyk|
|Shark Tank Episode||Season 11 Episode 15|
|Status||Active (Very Successful)|
|Last Updated||October 2023|
What Is Swimply?
Swimply is an online marketplace and platform that allows users to rent private swimming pools by the hour. Similar to how Airbnb lets people rent homes and accommodations, Swimply connects pool owners with individuals looking for a private pool experience.
It provides a way for pool owners to monetize their underutilized assets and for users to enjoy a more exclusive and private swimming experience.
What Is Swimply Net Worth In 2023?
As of 2023, Swimply operates not only in the United States but also in Australia and Canada. The platform boasts 76 full-time employees and is estimated to generate an annual revenue of $29 million. The net worth of Swimply has swelled to an impressive $160 million, a testament to the company’s remarkable journey from humble beginnings.
But Swimply’s success isn’t just about swimming pools. The platform has expanded its services to include the rental of courts for pickleball, basketball, and tennis.
Swimply’s net worth in various years:
- 2023: $160 Million
- 2022: $110 Million
- 2021: $49 Million
- 2020: $20 Million
- 2019: $12 Million
- 2018: $3 Million
Disclaimer: The information provided in this post is based on available data online through various sources. While we strive to offer accurate and up-to-date information, we cannot guarantee the current accuracy of details. This information is for educational purposes only and should not be considered as facts.
This expansion aligns with Swimply’s mission to democratize ownership of recreational spaces, allowing hosts to share underutilized assets with their local communities.
Swimply Origin Story
Swimply’s story began in 2018 when founder Bunim Laskin, hailing from Lakewood, New Jersey, noticed an opportunity within his own neighborhood.
Laskin struck a deal with his neighbor to gain access to their swimming pool, offering to contribute 25% of the pool maintenance costs in exchange for enjoying the pool’s cool waters. This initial spark of an idea led to the birth of Swimply.
Starting small with just four pools in the New Jersey area, Laskin utilized Google Earth to scout homes with underutilized pools and personally convinced their owners to join the platform. With a modest initial investment of $30,000 from friends and family, Swimply officially launched in 2019, quickly amassing over 400 reservations.
Swimply Shark Tank Experience
In 2020, Swimply took a daring leap by appearing on the hit TV show “Shark Tank.” Laskin sought a $300,000 investment in exchange for 5% equity, valuing the company at $6 million. However, the sharks didn’t take the bait.
One of the primary concerns raised by the sharks was Swimply’s ambitious financial projections. Laskin outlined his vision for Swimply, projecting a gross marketplace value of $289 million in the United States alone by 2022. While optimism is a key trait of any successful entrepreneur, the sharks questioned the feasibility of these lofty goals.
Another point of contention was Swimply’s ability to handle the complexities of the market, including liability issues and safety concerns. These challenges were not taken lightly, especially given the responsibility associated with providing private pool access.
Ultimately, Swimply’s pitch did not result in a deal with any of the sharks. Each shark opted to bow out for various reasons, expressing doubts about the company’s valuation, projections, and ability to address potential challenges effectively.
While not securing a deal on Shark Tank may seem like a setback, Swimply’s journey didn’t end there. In fact, it was just the beginning of a remarkable trajectory.
If you like Swimply, explore the net worth of another Shark Tank startup, Boost Oxygen.
Post Shark Tank: Swimply Growth & Investments
Despite the initial disappointment, Swimply pressed forward with its mission to revolutionize the way people access swimming pools. The platform’s real breakthrough came during the COVID-19 pandemic when public pools were closed, and Swimply emerged as a lifeline for those seeking a refreshing escape.
During the pandemic, Swimply experienced an impressive surge in demand, with its app garnering over 250,000 downloads and generating over $1 million in revenue. This unexpected success demonstrated the platform’s resilience and adaptability, showing that it could thrive in challenging times.
In the months following its Shark Tank appearance, Swimply attracted significant investment. A Series A round secured $40 million in 2021, led by Mayfield and featuring participation from prominent investors, including GGV Capital, Nate Blecharczyk (Airbnb co-founder), and Fidji (Instacart CEO).
Swimply Future: Expansion Beyond Swimming Pools
Swimply’s journey underscores the transformative potential of the sharing economy. It has provided a platform for pool and court owners to monetize their assets, effectively turning underutilized spaces into income generators.
Moreover, Swimply’s mission to democratize recreational spaces extends beyond swimming pools. The company envisions a future where various recreational assets can be shared, creating a broader impact on the sharing economy.
Is Swimply a successful company after Shark Tank?
Yes, Swimply has experienced significant success after its appearance on “Shark Tank.” Despite not securing a deal on the show, the company has thrived, particularly during the COVID-19 pandemic, and has grown its user base and revenue substantially.
Did Swimply secure a deal in Shark Tank?
No, Swimply did not secure a deal with any of the investors (sharks) during its appearance on “Shark Tank.” The sharks had concerns about the company’s valuation and projections at the time.
Is Swimply still operational in 2023?
Yes, Swimply is still operational in 2023. As of the provided information, the company operates in the United States, Australia, and Canada and continues to facilitate private pool rentals and other recreational space bookings.
Who is the founder and owner of Swimply?
Swimply was founded by Bunim Laskin and Asher Weinberger, and they played a significant role in its early growth and development. However, please note that the ownership and leadership structure of companies can change over time.
Final Thoughts: The Swimply Net Worth
What does the future hold for Swimply? With a net worth of $160 million and a successful track record, the company seems poised for further growth and expansion.
As it continues to diversify its offerings and capture the essence of the sharing economy, Swimply may well become a prominent player in the recreational space rental market.
Swimply’s journey from a small, local idea to a multi-million-dollar platform is nothing short of inspiring. It reminds us that innovative solutions can thrive even in challenging times.
As Swimply continues to make waves in the sharing economy, it leaves us eagerly anticipating what other underutilized assets it might bring to the forefront.
Benjamin writes and conducts research for AllAboutNetWorth. Ben is a young Canadian man who is now exploring the world. He enjoys both eating and tourism. Benjamin has a strong love for inspiring others to pursue their ambitions. He has explored his interests, vocations, and finances for more than five years. The writings and publications on AllAboutNetWorth are the brainchild of Ben.