Swimply, often dubbed as the “Airbnb for swimming pools,” has been making waves in the sharing economy since its inception in 2018. With a platform that connects pool owners with eager swimmers seeking a cool escape, Swimply has experienced rapid growth and expansion. In this article, we’ll delve into Swimply’s journey, net worth, and its intriguing appearance on Shark Tank.
What is Swimply?
Swimply is an innovative online marketplace that enables homeowners with swimming pools to rent out their private oasis on an hourly basis. It provides a convenient solution for those looking to enjoy a refreshing swim without the commitment of pool ownership. Users can book pools through the Swimply mobile app or website, facilitating communication, amenity selection, and payment.
Who is the CEO of Swimply?
Bunim Laskin, the brain behind Swimply, came up with the idea at just 20 years old. He noticed a neighbor’s pool rarely in use and proposed renting it in exchange for assisting with maintenance costs. Recognizing the scalability of this concept, Bunim used Google Earth to locate more pools, eventually launching Swimply with over 30 listings. By the end of the year, he dropped out of college to pursue the venture full-time.
History
Swimply’s journey began with Bunim Laskin’s grassroots efforts to sign up pool owners. He initially knocked on doors to persuade homeowners to join the platform, ultimately acquiring the first 100 pools. Friends and family invested $30,000, allowing Swimply to officially launch in 2019. With over 400 reservations, the startup managed to secure around $1.2 million in funding, fueling its expansion.
Swimply Net Worth
As of now, Swimply boasts an impressive net worth of $160 million USD. Its annual sales revenue stands at $29 million, a remarkable achievement considering its humble beginnings. This valuation reflects Swimply’s success as a unique and thriving player in the sharing economy.
Shark Tank Appearance
In a memorable turn of events, Swimply made an appearance on Season 11 of Shark Tank, seeking a $300,000 investment for 5% equity. Bunim Laskin boldly predicted a $15 million profit by the end of 2020, but the Sharks were skeptical. Ultimately, all the Sharks declined to invest, with concerns ranging from unrealistic projections to a lack of understanding of the business.
How much does the average Swimply earn?
The average pool owner on Swimply earns between $15,000 and $25,000 annually, offering a substantial income source for those willing to share their pools.
- RELATED: Bob Weir Net Worth: The Financial Symphony of a Grateful Dead Icon
- RELATED: Andrew Lincoln Net Worth: Walking through the Earnings of “The Walking Dead” Lead
- RELATED: Billionaires who paid $250,000 each to view the ruins of Titanic ship with a submersible reported dead
Swimply after Shark Tank
While the Sharks’ rejection initially seemed like a setback, it turned out to be a blessing in disguise for Swimply. Asher Weinberger, who had appeared on Shark Tank as COO, now leads the company as CEO and owns 45% of the business, earning a salary of $1 million annually. Under Asher’s leadership, Swimply has flourished, disproving the Sharks’ doubts and becoming a significant player in the market.
Who invested in Swimply?
One of the most significant developments for Swimply was Airbnb’s investment of $40 million in the company. This strategic investment has bolstered Swimply’s position in the market and suggests a potential acquisition by Airbnb in the future.
Swimply’s Products & Differentiators
Swimply’s primary product is pool sharing, allowing partner hosts to offer their pools for hourly rentals. This unique service sets Swimply apart in the sharing economy, providing individuals and groups with access to private pools and their amenities.
Liability
It’s worth noting that, as of 2024, Swimply no longer provides a liability insurance policy. Instead, it offers a “host guarantee” of $2 million, self-funded, and $10,000 of property protection for hosts within the United States. Swimply also mandates health and safety inspections, ensuring the well-being of swimmers.
Does Swimply still exist?
Absolutely, Swimply is alive and well, operating in the United States, Canada, and Australia. Despite the challenges of the COVID-19 pandemic, Swimply has continued to thrive by adapting to the changing landscape and providing a valuable income source for pool owners during uncertain times.
How do you become a host in Swimply?
Becoming a Swimply host is a straightforward process. Pool owners can create their listings for free, set their prices, upload photos, outline rules, and specify availability. Swimply manages reservations and payments, making it a hassle-free experience for hosts.
Conclusion
Swimply’s journey from a young entrepreneur’s vision to a thriving marketplace for pool rentals is a remarkable success story. Its net worth of $160 million is a testament to its popularity and viability in the sharing economy. With its unique offerings and strategic investments, Swimply is poised for even more growth in the coming years.
FAQs about Swimply
- How long has Swimply been around? Swimply was founded in 2018 and has rapidly expanded to over 20 countries since then.
- Who is the CEO of Swimply? Swimply’s current CEO is Asher Weinberger, who took over after the company’s appearance on Shark Tank.
- How much does the average Swimply earn? On average, pool owners on Swimply can earn between $15,000 and $25,000 per year by renting out their pools.
- Who invested in Swimply? Airbnb invested $40 million in Swimply, indicating a potential acquisition in the future.
- Does Swimply still exist? Yes, Swimply continues to operate in the United States, Canada, and Australia, providing a platform for pool rentals.
