Plunge Shark Tank Update

Plunge Shark Tank Pitch

Michael Garret and Ryan Duey appeared on Shark Tank Season 13, Episode 21, which aired on May 2, 2022, with A cold plunge is the act of getting into cold water to shock your body. Cold shocking has many benefits that include increased energy, improved phyical recovery, and reduced inflamation..

Plunge is listed in the Health SelfCare category. In plain terms, the business is described as A cold plunge is the act of getting into cold water to shock your body. Cold shocking has many benefits that include increased energy, improved phyical recovery, and reduced inflamation..

Plunge asked the Sharks for $1,200,000 for 5%, implying a valuation of about $24 million.

On the show, Plunge made a listed deal with Robert Herjavec for $1,200,000 for 12% + $1,200,000 loan.

If treated as straight equity, the listed deal works out to about $10 million implied valuation, down from the original $24 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Plunge After Shark Tank

Plunge accepted an on-air Shark Tank deal for $1,200,000 for 12% + $1,200,000 loan. Later follow-up coverage says the deal did not close. (Plunge Shark Tank Update

As of July 2024, Plunge was reported at about $100 million in sales. (Plunge Shark Tank Update

In the 3 short years since filming, the company has moved into a 150,000 squarefoot manufacturing facility and warehouse and introduced a moderately priced sauna (saunas are typically followed by a cold plunge). (Plunge Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches