Plunge Net Worth Shark Tank Update 2025 

Cold therapy has been used for centuries to relieve pain, reduce inflammation, and improve recovery. Athletes, fitness enthusiasts, and even everyday people swear by the benefits of ice baths. However, traditional cold plunges come with a major problem: they require a constant supply of ice, which is messy, expensive, and inconvenient. Hauling bags of ice every time you want a cold plunge is not practical for most people.  

This is where entrepreneurs Michael Garrett and Ryan Duey saw an opportunity. They created Plunge, a revolutionary cold plunge tub that eliminates the need for ice. Their system uses advanced cooling technology to maintain the perfect temperature, along with a filtration system to keep the water clean. No more lugging around heavy ice bags, just a sleek, easy-to-use plunge tub that delivers all the benefits of cold therapy without the hassle.  

When Michael and Ryan stepped into the Shark Tank in Season 13, they were seeking an investment to scale their business. They asked for $1.2 million for 5% equity, valuing their company at $24 million. The sharks were impressed by their sales numbers,$4.9 million in just one year, but had concerns about the high valuation. After intense negotiations, they struck a deal with Robert Herjavec, who offered $1.2 million in cash and a $1.2 million loan for 12% equity. 

Plunge Net Worth Shark Tank Update 2025 

Michael and Ryan were looking for an investment of $1.2 million in exchange for 5% equity in the company. At the time of the episode, they valued their company at $24 million. Michael and Ryan successfully secured a deal with Robert Herjavec for an investment of $1.2 million in cash and a $1.2 million loan for 12% equity in the company. The investment adjusted the company’s net worth to around $10 million. After the show was aired, Plunge experienced a good boost in exposure. As per my rough estimate, the current net worth of Plunge is around $80 million.

Shark(s) nameOffer & DemandCounterofferAccepted?
Barbara Corcoran $1.2M for 20% (half as loan)             N/ANo
Lori GreinerOutN/AN/A
Kevin O’Leary$1.2M for 18% equityN/ANo
Robert Herjavec $1.2M cash + $1.2M loan for 15% equity $1.2M cash + $1.2M loan for 12% equity$1.2M cash + $1.2M loan for 10% equity Yes
Mark Cuban$1.2M for 15% equity + funding for orders $1.2M cash + $1.2M loan for 10% equityNo

Michael Garrett and Ryan  Backstory + Their Initial Pitch 

Michael Garrett and Ryan Duey didn’t start their careers in the wellness industry. Both were successful entrepreneurs in different fields before they discovered the benefits of cold plunging. Michael, a former professional athlete, used ice baths for recovery but grew frustrated with the inconvenience of traditional methods. Ryan, a tech entrepreneur, saw the potential for a more efficient solution.

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Together, they decided to create a product that would make cold therapy accessible to everyone.  

The early days of Plunge were challenging. Developing a self-cooling plunge tub required engineering expertise and significant investment. They had to figure out how to keep the water cold without relying on ice, while also ensuring the system was energy-efficient and easy to maintain. After months of research and prototyping, they launched their first model, a sleek, portable cold plunge that could be used at home.  

When they entered the Shark Tank, they presented their product with confidence. They explained how Plunge works,using a chiller system to maintain temperatures between 39°F and 104°F, along with UV and ozone filtration to keep the water clean. They highlighted the growing demand for recovery tools among athletes, biohackers, and wellness enthusiasts.  

Their pitch was backed by impressive numbers: $4.9 million in sales within their first year, with a strong direct-to-consumer model. They were already profitable, which caught the sharks’ attention. However, their $24 million valuation was a sticking point for some of the sharks, who felt it was too high for such a young company. 

Queries + Shark’s Responses, and Final Deal

The sharks had many questions about Plunge’s business model, competition, and growth potential.  

Kevin, known as “Mr. Wonderful,” was the first to question the valuation. He pointed out that the company was only a year old and felt the $24 million valuation was too aggressive. However, he still saw potential and made an offer,$1.2 million for 18% equity, which was much higher than the entrepreneurs’ original ask.  

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Lori, the “Queen of QVC,” liked the product but felt it wasn’t the right fit for her. She mentioned that she doesn’t typically invest in large, heavy products that are hard to sell on TV. She politely bowed out, saying she wouldn’t be making an offer.  

Barbara saw potential but was worried about cash flow. She believed the company needed more working capital to fulfill orders. Her offer was $1.2 million for 20% equity, with half of the investment as a loan or line of credit.  

Robert was impressed by the sales numbers and believed in the product’s future. He offered $1.2 million in cash and a $1.2 million loan for 15% equity, totaling $2.4 million in funding.  

Mark, always looking for scalable businesses, made a competitive offer,$1.2 million for 15% equity, with additional funding for all purchase orders. He believed his experience in e-commerce could help Plunge grow faster.  

With multiple offers on the table, Michael and Ryan had a tough decision. They countered Robert’s offer, asking for 10% equity instead of 15%. Robert stood firm at 12%, and after some back-and-forth, they agreed. 

Product Availability

Plunge offers several models, including:  

– The Original Plunge – A home cold plunge tub with temperature control.  

– Plunge Pro – A commercial-grade model for gyms and wellness centers.  

– Plunge Sauna – A new addition, combining heat therapy with cold plunging.  

The products are available on their official website (plunge.com), with prices ranging from $4,990 to $7,990, depending on the model. They also sell accessories like covers, steps, and water care kits. 

What Happened To The Plunge After Shark Tank?

Plunge, a company that sells recovery products, has seen a huge increase in success since they appeared on Shark Tank. By the year 2023, Plunge made $80 million in sales. This shows that many people are buying their products. They are sending out about 2,000 products every month, indicating strong and steady demand.

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They have started selling new products like saunas and items for commercial use, which means they are not just selling one kind of product anymore. Well-known athletes and influencers are promoting their products, helping to attract even more customers.

Thanks to Robert, who invested in the company and provided advice, Plunge has been able to improve their production and marketing efforts. Now, they are a top player in the recovery industry and continue to grow rapidly without any signs of slowing down.

Conclusion 

Plunge’s journey on Shark Tank was a success. Despite initial concerns about valuation, Michael and Ryan’s impressive sales and clear vision convinced Robert Herjavec to invest. Since then, the company has grown into an $80 million business, proving that cold therapy is more than just a trend; it’s a booming industry.  

With new products like saunas and commercial tubs, Plunge is set to dominate the recovery market for years to come. Their story shows how a simple idea ,making ice baths easier, can turn into a multi-million-dollar empire with the right support.  

If you’re looking for a way to boost recovery and improve wellness, Plunge might just be the perfect investment for your health and your performance.