What happened to Swimply after appearing on Shark Tank Season 11? Despite not securing a deal on Shark Tank, Swimply experienced significant growth, particularly during the COVID-19 pandemic. The company has expanded its services to multiple countries and raised millions in venture capital.
Summary
- Swimply, an Airbnb-like platform for renting private pools, appeared on Shark Tank Season 11 seeking $300,000 for 5% equity.
- The company did not secure a deal with the Sharks.
- Despite this, Swimply thrived, particularly during the COVID-19 pandemic when public pools were closed.
- Swimply has expanded its services and raised significant venture capital.
- The company continues to grow and innovate in the pool-sharing market.
Swimply Shark Tank Update | Shark Tank Season 11
The sharing economy is growing. Platforms like Airbnb and Uber have pioneered a new way of accessing and utilizing resources, allowing individuals to monetize underused assets.
This collaborative consumption model creates a win-win situation for both asset owners and those seeking access.
Swimply: A Unique Concept
Swimply takes the sharing economy concept and dives headfirst into a new realm: swimming pools.
Recognizing that many private pools sit idle for a significant portion of the day, Swimply founders Bunim Laskin and Asher Weinberger created a platform that connects pool owners with individuals seeking a private swimming experience.
This innovative idea allows pool owners to generate income from their underutilized asset, while providing an affordable and accessible way for people to enjoy a day at the pool.
Swimply on Shark Tank Season 11
1. The Pitch
| Entrepreneurs | Bunim Laskin & Asher Weinberger |
|---|---|
| Business | Swimply |
| Ask | $300,000 for 5% |
| Deal | No Deal |
| Sharks | Mark Cuban, Kevin O’Leary, Lori Greiner, Robert Herjavec, Daymond John |
| Season | Season 11 |
| Original Air Date | March 13, 2020 |
| Website | Swimply |
| Key Points of Pitch |
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| Why Sharks Declined |
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2. The Sharks’ Response
The Sharks were intrigued by the novelty of Swimply’s concept but ultimately expressed reservations.
Mark Cuban questioned the scalability of the business, while Kevin O’Leary voiced concerns about liability and insurance.
Lori Greiner was interested but hesitant due to the potential for negative incidents. Robert Herjavec and Daymond John also had similar concerns, leading to a lack of offers from the Sharks.
3. Why No Deal?
Several factors likely contributed to Swimply not securing a deal on Shark Tank. The Sharks seemed particularly concerned about the potential risks and liabilities associated with pool rentals, such as accidents or property damage.
Additionally, they may have been uncertain about the size of the market and the long-term viability of the business model. Despite a compelling pitch, Swimply failed to convince the Sharks that it was a worthwhile investment.
Swimply Update
1. Growth and Expansion
Despite not getting a deal on Shark Tank, Swimply has experienced remarkable growth.
The company benefited significantly from the COVID-19 pandemic, as people sought safer alternatives to public pools and beaches.
This led to a surge in demand for private pool rentals, propelling Swimply’s expansion. The platform is now available in hundreds of cities across the United States, Canada, and Australia.
2. Funding and Investments
Swimply’s success has attracted significant investment. The company has raised millions in venture capital funding, enabling it to further expand its operations and improve its technology.
This funding has fueled Swimply’s growth and allowed it to invest in new features and services.
3. New Features and Services
Swimply has continued to innovate, adding new features to enhance the user experience. These include:
- Improved search filters: Users can now easily find pools based on specific criteria such as size, amenities, and price.
- Enhanced communication tools: The platform provides seamless communication between pool owners and swimmers.
- Integrated insurance: Swimply offers insurance options to protect both pool owners and swimmers.
- Expansion beyond pools: Swimply has started to diversify its offerings, including rentals for private tennis courts, hot tubs, and backyards.
How Swimply Works
Swimply’s platform is designed to be user-friendly and straightforward for both pool owners and swimmers.
1. For Pool Owners
- List your pool: Create a detailed listing of your pool, including photos, amenities, and pricing.
- Set your availability: Choose the days and times you want to make your pool available for rent.
- Manage bookings: Accept or decline booking requests and communicate with swimmers.
- Earn income: Receive payments directly through the platform.
2. For Swimmers
- Search for pools: Browse available pools in your area, filtering by your preferences.
- Book your swim: Select your desired date and time and submit a booking request.
- Enjoy your private swim: Head to the pool and enjoy a relaxing and fun experience.
- Review your experience: Provide feedback to help other swimmers.
Benefits of Using Swimply
Swimply offers a range of benefits for both pool owners and those looking to take a dip:
1. Affordability
For swimmers, Swimply offers a more affordable way to enjoy a pool compared to expensive memberships or day passes at crowded public facilities.
Pool owners can set their own hourly rates, often making it a budget-friendly option for families and individuals.
2. Privacy
Swimply provides a private and exclusive swimming experience. You can enjoy a pool without the crowds and noise of public pools.
This is particularly appealing for those seeking a relaxing and intimate setting for special occasions or family gatherings.
3. Flexibility
Swimply offers flexibility for both pool owners and swimmers. Pool owners can choose when and how often they make their pool available, while swimmers can book pools for specific time slots that fit their schedule. This on-demand access makes it convenient for busy individuals and families.
Challenges and Concerns
While Swimply offers a unique and appealing service, there are also challenges and concerns associated with the platform:
1. Safety and Liability
Safety is a primary concern for both pool owners and swimmers. Swimply requires pool owners to adhere to safety regulations and provides guidelines for maintaining a safe environment.
However, there is always a risk of accidents or injuries. Swimply offers insurance options to help mitigate these risks, but it remains a crucial aspect for users to consider.
2. Regulation and Zoning
Operating a pool rental business can be subject to local regulations and zoning laws. Pool owners need to ensure they comply with these regulations to avoid potential legal issues.
Swimply provides resources and information to help pool owners navigate these requirements, but it’s essential for them to be aware of and adhere to local laws.
3. Competition
As the pool-sharing concept gains popularity, Swimply faces increasing competition from other platforms and traditional pool rental businesses.
This competition could impact pricing and market share. Swimply will need to continue innovating and providing a high-quality user experience to stay ahead in the market.
The Future of Swimply
Swimply has made significant waves in the pool-sharing market, but what does the future hold for this innovative platform?
1. Expansion Plans
Swimply has ambitious expansion plans. The company aims to increase its presence in existing markets and expand into new regions and countries.
This will involve growing its user base and adding more pools to its platform. Swimply also plans to expand its offerings beyond pools, potentially including other types of recreational spaces and amenities.
2. Potential Acquisitions
As Swimply grows, it may consider acquiring smaller companies in the pool and recreation industry.
This could help expand its services, acquire new technology, or eliminate competition. Strategic acquisitions could play a role in Swimply’s future growth strategy.
3. Industry Trends
Swimply is well-positioned to capitalize on several key industry trends:
- Increased demand for experiences: People are increasingly prioritizing experiences over material possessions. Swimply provides access to unique and memorable experiences, aligning with this trend.
- Focus on health and wellness: Swimming is a popular form of exercise and recreation, promoting health and wellness. Swimply offers a convenient and accessible way for people to engage in this activity.
- Growth of the sharing economy: The sharing economy continues to expand, with consumers embracing platforms that allow them to access resources and services in new ways. Swimply is a prime example of this trend, offering a sharing model for pool access.
By staying ahead of these trends and continuing to innovate, Swimply is likely to remain a major player in the evolving landscape of pool sharing and recreational rentals.
FAQs
How much does it cost to use Swimply?
The cost of renting a pool on Swimply varies depending on factors like the pool size, amenities, location, and time of day. Pool owners set their own hourly rates, so you’ll find a range of options to fit your budget.
Is Swimply safe?
Swimply prioritizes safety and provides guidelines for pool owners to maintain a safe environment. However, it’s important to remember that swimming always carries inherent risks. Swimply offers insurance options to help mitigate these risks, and it’s crucial for both pool owners and swimmers to follow safety precautions.
What if I need to cancel my Swimply booking?
Swimply has a cancellation policy that varies depending on the pool owner’s settings. Be sure to review the cancellation policy before booking and communicate with the pool owner if you need to make changes.
Can I bring my own food and drinks to a Swimply pool?
Most pool owners allow you to bring your own food and drinks, but it’s always best to confirm with them beforehand. Some pools may have restrictions or offer additional amenities like grills or refrigerators for an extra fee.
What if there’s a problem with the pool or property?
If you encounter any issues during your Swimply rental, communicate directly with the pool owner. If you can’t resolve the issue with the owner, you can contact Swimply’s customer support for assistance.
The Bottom Line
Swimply has emerged as a leader in the pool-sharing economy, offering a unique and convenient way for people to access private pools. Despite facing challenges like safety concerns and competition, Swimply continues to grow and innovate.
With its expansion plans, potential acquisitions, and alignment with key industry trends, Swimply is poised for continued success. Whether you’re a pool owner looking to earn extra income or a swimmer seeking a private and affordable pool experience, Swimply provides a platform worth exploring.
