Entrepreneur Bunim Laskin pitched his private pool rental app during
If you’re short on time, here’s a quick overview of what happened to Swimply after
Bunum Laskin appeared on
Shark Tank Swimply Update
- Entrepreneur: Bunim Laskin
- Business: Private pool rental a la Airbnb
- Ask: $300,000 for 5% equity
- Result: No deal
- Shark: None
Founder of Swimply, Bunim Laskin, is a fast-talking entrepreneur from New Jersey. When he saw his neighbor build a pool that she never used, he was inspired to ask her to use it.
In exchange, he’d pay for some of her upkeep costs. Soon, the whole neighborhood was using her pool, prompting Bunim to start Swimply.
Essentially, this private pool rental service functions like Airbnb. Pool owners select times and dates to rent out their pools, and then decide on hourly rates, which tend to range between $45 and $90 an hour.
People looking to swim in a private pool pay per hour to use them. It’s simple, and the company has earned $990,000 so far.
They started with four pools, but they have quickly grown. Comparatively, this growth has resulted in $215,000 in gross sales, and $42,000 in profit for the year of recording.
That’s not bad, considering the entrepreneur only has to keep the app and website running. Further, pool owners do most of the work, and Swimply takes 15% from hosts and 10% from swimmers for all transactions.
Robert Herjavec doesn’t see how the business can become profitable, so for that reason, he’s out.
Lori Greiner thinks it’s a great idea, she just doesn’t want to invest in it. She is the next shark out.
Likewise, Barbara Corcoran doesn’t want to go in either. Before going out, she adds that Bunim is too much of a fast talker.
Mark Cuban sees value in the idea but doesn’t know if other people would use it. He eventually drops out because the company’s valuation and projections (which Bunim claims is $289 million by 2022) are too unrealistic.
Lastly, Kevin O’Leary takes issue with the valuation, so for that reason, he too is out.
Swimply doesn’t get a deal, but how is the company doing now? Read on in our
Despite failing to secure a deal, our Swimply update is a good one! While it’s gotten nowhere near the high valuation that Bunim put on his company, the pandemic actually benefitted Swimply and has led to $70 million in lifetime sales.
The contactless service model, paired with a need for some type of normalcy during COVID, has increased sales by nearly 4,000%. In turn, Swimply now has 125 active markets in the US alone.
The company has also expanded to Canada and even Australia! In 2021, Swimply was featured in a TechCrunch article where Bunim boasted of “seven digits a month in revenue”, thanks to 15,000 to 20,000 reservations a month.
The future looks bring for Bunim and his company. If we get any more Swimply updates, we will let you know!
You can find the other company updates from Season 11 Episode 15 here:
For even more on companies and products, be sure to stop by our Season 11 products page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!