Swimply has a $10 million dollar net worth. Swimply helps homeowners find persons who want to hang out, relax, or exercise in their backyards. Depending on the amenities, renting a pool might cost between $45 and $65 per hour.
For a staycation, Swimply is an online marketplace where you may hire a private pool. For an hourly fee, homeowners will hire out their swimming pools to individuals or groups. Swimply’s mobile apps for Android and iPhone, as well as its website, swimply.com, both allow for the making of reservations. The platform for payments, communication, and amenity choices is called Swimply. In the US, hosts are covered by a $1,000,000 insurance policy. Australia, Canada, and the United States all have access to Swimply.
In the grand scheme of things, the idea isn’t as weird as it seems. In the past two years, COVID has shut down numerous public swimming pools and other recreational opportunities while few people have traveled. You are able to “escape locally” with Swimply.
Making a Marketplace where hosts can sell their unused assets is not a novel idea. Airbnb is maybe the best illustration of how effective that strategy is.
The company Swimply launched in 2018 and markets itself as “Airbnb for swimming pools.” According to the company, the network has more than 20,000 pools spread throughout all 50 states, Canada, and Australia.
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GGV Capital, one of Airbnb’s biggest investors, is now supporting a different business that is similar to its. Instead of listing properties on the market, Swimply advised connecting pool owners with people who want private access to them. Everything has gone smoothly thus far. Only seven months after announcing a $10 million financing round, the company has just secured $40 million in a round headed by Mayfield. Among the investors are Nate Blecharczyk, a co-founder of Airbnb, Casey Winters, a former executive at Pinterest and Grubhub, Brad Bao, a co-founder of Lime, Rob Chestnut, a former executive at Airbnb and eBay, Fidji Simo, the CEO of Instacart, and Alvin Salehi of Shef. Trust Ventures and Norwest are now partners.
Swimply has “seven digits in income,” according to co-founder Bunim Laskin, and 15,000–20,000 reservations each month as of May. Swimply’s size has tripled in just six months. Its website processed 250,000 reservations last year, up from 40,000 the year before. By 2021, it will connect 1 million individuals in 103 cities. Although the business wouldn’t disclose its earnings, the percentage of each booking is not insignificant. (There are two fees: a 15% owner commission and a 10% guest service fee.) Even the co-founders Laskin and Asher Weinberger were taken aback by the increase in demand. We’ve set aside smaller groupings for 2020.
Swimply Owner’s Story
After the COVID vaccination, “we observed more birthday parties, swimming lessons, and people getting together for the first time in a long time,” Laskin told TechCrunch. The business now wants to cover all outdoor spaces, not just swimming pools. By 2022, it hopes to connect users with available rooftops, tennis courts, hot tubs, vast backyards, and even inside gyms. Utilizing unused spaces rather than creating new ones helps to indirectly promote sustainability by reducing new construction.
Swimply takes great pride in its business savvy. According to Laskin, Swimply hosts, like Airbnb hosts, might earn a sizable sum of money. In 2020, the highest-paid host made just over $20,000! This year, some hosts earned six figures. According to Laskin, the top 20% of hosts earn about $5,000 each month. “Many people are becoming solopreneurs,” said Laskin. In order to assist its hosts in running their businesses efficiently, Swimply is investing in new tools. As evidence, some hosts even hire cooks or put in vending machines for their visitors. The business also intends to create support, insurance, and other verticals.
Swimply generates 20% of its sales in Los Angeles, which is one of the company’s intriguing business facts. Among them are Baltimore, New York City, Portland, Oregon, Austin, Texas. Sixty percent of all reservations are made by families. Normal reservations last for two hours. Approximately 72% of bookings are renewed. Because of its investments in Lyft and Poshmark, Mayfield Managing Director Navin Chaddha claimed that his company is a “big believer in the sharing economy.” Even while swimming is a well-liked family activity, not everyone has access to swimming pools.
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Families or small groups of friends who wish to rent a pool for two hours frequently make reservations. Another choice is for a sizable group to hire the entire pool. Because Orthodox Jews and Muslims might feel uncomfortable swimming in pools with mixed gender, some people utilize the app for religious purposes. It enables them to enjoy precious time in the pool with their family.
