Sworkit Shark Tank Update

Sworkit Shark Tank Pitch

Ben Young and Greg Coleman appeared on Shark Tank Season 7, Episode 18, which aired on February 18, 2016, with customizable video workout fitness app.

Sworkit is listed in the Fitness Outdoors category. In plain terms, the business is described as customizable video workout fitness app.

Sworkit asked the Sharks for $1,500,000 for 8%, implying a valuation of about $18.8 million.

On the show, Sworkit made a listed deal with Mark Cuban for $1,500,000 for 10%.

If treated as straight equity, the listed deal works out to about $15 million implied valuation, down from the original $18.8 million implied valuation.

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

Sworkit After Shark Tank

Sworkit accepted an on-air Shark Tank deal for $1,500,000 for 10%. Follow-up reporting lists the company as still operating after its Shark Tank appearance. (SworkIt Shark Tank Update

Sworkit reported sales of $60 million. (SworkIt Shark Tank Update

As of December, 2021, the app has over 30 million downloads and ten million registered users (including my wife). (SworkIt Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches