Plunge Net Worth Shark Tank Update 2025

Ryan Duey and Michael Garrett wished to improve people’s quality of life. They were aware that cold water therapy could help patients and enhance their health. Athletes frequently employ icy plunges to speed up their recovery from workouts. However, there was an issue. Not everyone had a large tub and cold plunges required a lot of ice. So they came up with Plunge.

In place of ice Plunge is a cold plunge tub that runs on filtered water. In this manner purchasing bulky ice packs each time you choose to take a plunge into the cold would be avoided. Michael and Ryan presented their innovation to the sharks during Season 13 of Shark Tank. They want $1.2 million in exchange for 5% equity. Will the entrepreneur get a deal on Shark Tank? Check out our Plunge update to find out!

plunge Net Worth Shark Tank Update 2025

Ryan Duey and Michael Garrett asked for a $1.2 million investment in exchange for 5% equity in their company. This meant they valued their company at $24 million. They made a deal with Robert for $1.2 million in cash and a $1.2 million loan in exchange for 12% of their company. This new deal valued their company at $10 million. After the show aired, Plunge saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Plunge in 2025 is about $16.11 million.

Following the Shark Tank Plunge’s growth was rapid. By 2024, they were still operating and thriving. Plunge began producing even more goods. Better cold plunge baths and saunas are now available for purchase. Their company gained a lot of popularity, and by 2023, they were selling more than $80 million.

The desire for a cold plunge tub was growing. A little over 2000 tubs were sold each month. Well-known people also assisted Plunge in spreading the word about their goods. These well-known figures contributed to Plunge’s continued growth. The business was succeeding more than before thanks to Robert.

Plunge closed the deal on Shark Tank! Initially, Michael and Ryan requested $1.2 million in exchange for 5% stock. Robert Herjavec struck the final agreement despite the interest of the other Sharks. He provided them a loan of $1.2 million with a 12 percent stake and another $1.2 million in cash.

Although Mark Cuban and Kevin O’Leary also made proposals, Robert’s was accepted by Michael and Ryan. One of the largest transactions ever on Shark Tank was this one! 

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Barbara Corcoran	600k +600k as loan for 20% equity	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	$1.2 million for 18 % equity	N/A	N/A
Robert Herjavec	$2.4 million, with $1.2 million in cash and $1.2 million as a loan, for 15 percent equity	#1 $2.4 million, with $1.2 million in cash and $1.2 million as a loan, for 10% equity #2 $2.4 million, with $1.2 million in cash and $1.2 million as a loan, for 12% equity	Yes to 2nd offer
Mark Cuban	$1.2 million for 15% equity	N/A	N/A

Plunge Shark Tank Pitch

Ryan Duey and Michael Garrett were big fans of cold plunges. They were aware that cold water therapy could speed up healing and improve overall well-being. They aimed to facilitate cold plunges for all. For this reason, they produced Plunge. It required no ice and was quite easy. Clean water that could be adjusted to the ideal chilly temperature was utilized in the cold plunge tub.

Plunge was not a simple creation. Initially, Michael and Ryan encountered numerous difficulties. They had to find a way to get the tub to function without ice. They also needed to figure out how to lower the cost of purchase for consumers. Not that they gave up. They labored for a long time before producing the ideal cold plunge tub.

Ready were Michael and Ryan when they entered the Shark Tank. They described to the Sharks the advantages of their cold plunge baths over other models. No ice was needed for their tubs. They supplied cold, filtered water instead. It was significantly simpler to utilize as a result.

They want $1.2 million in exchange for 5% ownership of their company. This implied that they were trading a small portion of their business for funding to expand. The Sharks thought the idea was good, but they had some concerns regarding the expense of manufacturing and the price of the tubs.

The Sharks questioned Ryan and Michael on a number of issues. They were curious about the pricing of the tubs and whether or not anyone was actually purchasing them. The tubs sold for thousands of dollars, but Michael and Ryan persuaded the Sharks they were still worth it. 

Consumers were eager to pay more for the goods because they genuinely liked them.

The Sharks also asked about the cost of manufacturing the tubs. Ryan and Michael clarified that although the tubs weren’t inexpensive to produce, sales of them were increasing quickly. Though their firm was still in the early stages. They were already making millions of dollars in sales.

Kevin O’Leary disagreed with the product’s high valuation, although believing it to be excellent. He made an offer of $1.2 million for 18% stock. However, Barbara Corcoran thought the company needed additional funding for cash flow. She still thought the concept was good. She proposed to pay $1.2 million for 20% equity and a loan of the other half.

Additionally, Mark Cuban made a bid. In addition to offering $1.2 million for 15% stock, he promised to assist with any purchase orders. Robert Herjavec made the finest offer. With $1.2 million in cash and a $1.2 million loan for 12% ownership, he made a total offer of $2.4 million.

Ryan and Michael considered each proposition. Although they preferred Robert’s offer, they only intended to reduce the equity to ten percent. After some negotiation, Robert agreed to 12 percent, and they made a deal.

What Went Wrong With Plunge  On Shark Tank?

Not every Shark thought Plunge was a great idea. Lori Greiner chose not to offer a proposal. She claimed that it was not a good fit for her. Despite his belief that the valuation was excessive, Kevin O’Leary made a bid. The expense of manufacturing the product was a concern for the other Sharks, who chose not to submit an offer.

Barbara Corcoran anticipated that Michael and Ryan would struggle with cash flow, but she still liked the product. This indicates that she anticipated that when their company expanded, they would struggle to manage their finances.

Product Availability

Plunge is still accessible right now. On their website, you may purchase their cold plunge baths. These days, cold plunge tubs come in a wide variety of styles. They even provide saunas for sale. Accessories are available on their website to enhance your cold plunge experience. Mats and filter coverings for bathtubs are available.

The bathtubs are pricey. Although they are expensive they are of excellent quality with pure filtered water. Athletes in particular enjoy using these tubs. You can use the Plunge baths at home or in fitness centers and gyms.

Plunge’s items are available for purchase on their website. The tubs may be available at some stores but online shopping is the best option.

Conclusion 

Since Shark Tank, Plunge has advanced significantly. Michael and Ryan put a lot of effort into making a product that promotes wellness. Their firm expanded even further after they signed a significant deal with Robert Herjavec. Plunge is currently doing better than before. 

They still sell thousands of tubs a month and have expanded their product line to include saunas. With projected sales of over $80 million by 2023. Plunge is expected to continue expanding. It appears that this cold plunge company has a promising future. We are eager to see what they will create next!