Swimply, the online marketplace that allows homeowners to rent out their pools and sports courts by the hour, has quickly become one of the hottest startups in recent years. Founded in 2018 by entrepreneur Bunim Laskin, Swimply saw massive growth during the COVID-19 pandemic as people looked for safe ways to swim and play sports outdoors. In this article we talk about Swimply Net Worth In 2024- Prepare To Be Shocked!
Despite being turned down on Shark Tank in 2020, Swimply has gone on to achieve tremendous success. In just a few short years, the company’s valuation has skyrocketed. So what exactly is Swimply worth today? Prepare to be shocked at how a simple idea combined with perfect timing during a global crisis led to incredible wealth.
Bunim Laskin’s Unlikely Entrepreneurial Beginnings
As the eldest of 12 children growing up in Lakewood, New Jersey, Bunim Laskin learned at a young age how to care for his younger siblings and keep them entertained. One day, the creative teenager noticed a neighbor’s pool sitting unused. He struck a deal to maintain their pool in exchange for his family’s access. This experience revealed a business opportunity to Laskin.
While attending Talmudic College of Florida, 20-year old Laskin founded a beta version of Swimply in 2018. He featured just four pools in New Jersey and used guerilla marketing tactics like knocking on doors to sign up homeowners. His hustle landed Swimply its first 100 listed pools.
Pitching Swimply on Shark Tank
In 2020, Laskin boldly marched onto the Shark Tank stage. He pitched his on-demand pool rental concept to the celebrity investors while asking for $300,000 for 5% equity in the fledgling company.
Laskin ambitiously claimed Swimply was on track to hit $15 million in profit by the end of 2020. The numbers stunned the Sharks, who swiftly declined to invest. They cited overly optimistic financial projections as the reason for passing. The young founder left without the deal he desired.
Pandemic Tailwinds Fuel Massive Growth
Mere months after the disappointing Shark Tank appearance, an unexpected twist of fate supercharged Swimply’s success. The COVID-19 pandemic caused public pools to close across the United States, leaving backyard pools as one of the only safe swimming options.
Downloads of Swimply’s app skyrocketed as people desperately sought pools to rent. By mid-2021, over 250,000 people had downloaded the app and Swimply was facilitating 15,000-20,000 reservations every month. Revenues topped $1 million seemingly overnight.
Vindication Comes via $40 Million Funding Round
Swimply’s pandemic performance attracted venture capital attention and vindicated Laskin’s lofty predictions. In 2021, the red-hot startup completed a Series A funding round, raising an astonishing $40 million.
The round was led by Mayfield, a prominent VC firm. It also included a key investment from Airbnb co-founder Nate Blecharczyk, who serves as an informal advisor to Swimply. The massive cash infusion provided the resources to expand operations.
Rapid Expansion Across North America
Powered by ample financial backing, Swimply accelerated expansion efforts across North America. The peer-to-peer rental marketplace had listings in every U.S. state. The company also launched in Canada and Australia.
Bolstered by swelling demand, Swimply opened additional revenue streams by applying their model to sports courts. Users can now rent tennis courts, basketball courts, and pickleball courts to augment income.
Thanks to these efforts, Swimply currently employs over 75 people and facilitates tens of thousands of rental bookings each month. Revenues now reliably top $10 million annually just five years after launching.
Swimply Shocking Net Worth in 2024
In only half a decade, Swimply has evolved from a fledgling startup into a nearly $30 million company. Despite early criticism, founder Bunim Laskin’s vision has become an incredible business success story.
Having weathered the pandemic storm and a humbling reality TV rejection, Swimply is now one of the preeminent peer-to-peer rental platforms. With substantial financial backing and tremendous growth ahead, the company’s net worth should rapidly appreciate in the coming years.
While the exact future value is unknown, there is no doubt Swimply has massively rewarded early investors while disproving its Shark Tank doubters. By following the Airbnb playbook, the sky is truly the limit for this ambitious startup.
Conclusion
Swimply’s rise from humble beginnings to a $30 million valuation in just 6 years represents one of the great entrepreneurial success stories of recent times. Driven by perseverance and fortuitous timing, founder Bunim Laskin has built a tremendously promising company poised for long-term prosperity.
While the Sharks failed to grasp Swimply’s potential on Shark Tank, the company has gone on to thrive well beyond even Laskin’s optimistic projections. As the platform continues expanding across three continents, expect to hear much more about Swimply and charismatic founder Bunim Laskin in the years ahead. I sincerely hope you find this “Swimply Net Worth In 2024- Prepare To Be Shocked!” article helpful.
