Yes, Plunge is still in business, and it’s one of the biggest post-Shark Tank success stories on record. The cold plunge company’s on-air deal technically never closed, but that turned out not to matter.
What happened to the Shark Tank deal
Founders Michael and Ryan struck a deal on air with Robert Herjavec for $1.2 million in cash plus a $1.2 million loan for 12% equity. The deal never officially closed because the company’s books were in disarray from how fast it was growing, a paperwork problem rather than a sign of trouble. In hindsight, it didn’t matter: Plunge didn’t actually need the investment to keep growing.
How big the company has gotten since
Plunge grew from a garage operation into a 150,000-square-foot manufacturing facility and warehouse, expanding its product line to include saunas and outdoor showers alongside its original cold plunge tubs. By July 2024, the company had generated more than $100 million in sales, shipping around 2,000 units a month.
Frequently asked questions
Did Plunge’s Shark Tank deal with Robert Herjavec close?
No, the deal never officially closed due to the company’s disorganized books at the time, though the two parties had agreed to terms on air.
How much has Plunge sold since Shark Tank?
Over $100 million in sales as of July 2024, shipping roughly 2,000 units per month.
Does Plunge sell more than cold plunge tubs now?
Yes, the company has expanded into saunas and outdoor showers alongside its original product.
For more Shark Tank updates, see Talmyn’s Business Case Studies desk.
