What Happened To SworkIt After Shark Tank?

Shark Tank episode 717 features a free fitness app called SworkIt, introduced by Ben Young and Greg Coleman.

You can think of it as having a personal trainer on your smartphone. “SworkIt” is short for Simply Work It. You can use it to work out.

Ben and Greg started a fitness app called Nexercise, which evolved into this one. Wharton MBAs Ben and Greg are former Air Force pilots with MBAs from the Wharton School. 

SworkIt was started after Ryan Hanna, who made the app’s framework as a project to learn coding, introduced them. He did not appear in the episode.

This app allows users to do strength, cardio, yoga, and stretching workouts for free. The app is divided into four sections: strength, cardio, yoga, and stretching. You can schedule a time for your workout and do the exercises on the app.

A “premium” subscription enables users to save multiple custom workouts; change exercise, rest, and transition intervals; get their complete workout history, and utilize the “Ask a Trainer” feature. 

Premium subscriptions are more expensive. There are also no ads with premium subscriptions.

SworkIt is considered one of the best workout apps because it adheres most closely to the American College of Sports Medicine recommendations. 

The guidelines suggest that a workout should consist of aerobic, strength, and flexibility elements.

Safety features are incorporated into the game to ensure beginners do not get injured. 

These workouts do not require any special equipment. Your only needs are a comfortable place to work out and a place where you can exercise.

The app is one of the best fitness apps, and people use it worldwide. More than ten million people use it. Ben and Greg might want a shark to help them grow even more.

Is a Shark willing to “work” a deal?

What Is SworkIt?

Sworkit is a fitness app available for iOS and Android. This program is called Simply Work It. It is both free and paid.

Four types of exercise are available on the app: cardio, strength training, stretching, and yoga, and the user can mix and match them to get the best of all four.

Sworkit Shark Tank Update

When you use a smartphone, you can adjust the length, number of repetitions, exercises, and workout instructions. You are your trainer. You can also follow a workout plan that has been suggested.

It is also possible to do the activities both at home and in the gym.

You get professional advice and more options for making your site look as you want with the paid version, which doesn’t have ads.

Company NameSworkit
EntrepreneurBen Young And Greg Coleman
ProductFitness App with Customizable Video Workouts
Investment Asking For$1,500,000 For 8% equity in Sworkit
Final Deal$1,500,000 For 10% equity in Sworkit
SharkMark Cuban
Episode Season 7 Episode 18
Business StatusIn Business
WebsiteVisit Website

Who Is The Founder Of SworkIt?

Sworkit has a wide selection of workouts, such as cardio, core strength, stretching, yoga, and pilates.

The user can select a workout and how long to spend exercising. They can then add their playlist to the workout. You can skip one squat if she doesn’t like it or can’t do it.

Sworkit was founded in 2012 by three friends, Ben Young, Ryan Hanna, and Greg Coleman (CEO).

Ryan served as a captain in the US Army while in college. Greg served 20 years in the military.

Greg and Ryan remain on the board for Sworkit. Ben graduated from the University of Virginia with a degree in computer science. He also has experience in the business development arena.

He stepped down as CEO in 2019. The company still employs him as a development and strategy consultant, but he is not in charge anymore.

There was a need for workout apps that could be customized to meet the needs of each individual. Therefore, they created the Nexercise fitness tracker as their first product.

Ryan developed Sworkit to keep track of his military workouts and sold it to them in 2014. The following year, they made a children’s version.

A year or so after they launched, they had over 10 million users, were ranked in the top five fitness apps, and made about $2 million selling ads.

Their app needed to be improved; they wanted to reach a wider market, so they searched for funding.

SworkIt Before Shark Tank

SworkIt is a free fitness app for the smartphone made by two friends who became entrepreneurs. Ben Young and Greg Coleman created the app.

SworkIt is short for “Simply Work,” It is an app that allows users to do strength training, cardio, yoga, and stretching. It was designed to let people do four types of exercises simultaneously.

You can develop any workout you want that will work any part of your body if you have a smartphone or tablet.

You can choose how much time you want to spend working out in the free version of the app. You just have to follow the instructions it gives you.

You see the workout on the app before you know it.

A paid version of the app allows users to save their workouts, change the exercise or resting times, and even ask the trainer.

SworkIt’s paid version does not have ads, which may be good for some users.

There are hundreds of workout apps available in the app store on your smartphone or tablet, so you can pick one that’s right for you.

Is there anything that makes SworkIt so different from other apps?

Sworkit Shark Tank Update

According to the American College of Sports Medicine, good workouts should include cardio, strength, resistance, and flexibility.

The best workout apps on the market all follow these rules. SworkIt is one of them.

Additionally, the app does not require you to join a gym to use it, nor do you have to pay a lot of money to attend classes.

It doesn’t matter where you live, as long as you have the app. All you need is a little extra motivation from the person using it.

There have been over 10 million users of SworkIt since it was first released. Therefore, it now ranks in the top five fitness apps on the market.

Ben and Greg’s app was a huge success, but they decided they needed more help and expertise to take it to the next level.

Whether or not the sharks will invest in SworkIt is unknown.

How Was The Shark Tank Pitch Of SworkIt?

Ben and Greg entered the Shark Tank seeking an investment of $1.5 million for an 8.5% stake in Sworkit. 

You can pick a workout from their app Sworkit that you can do from anywhere at any time. The creators of Sworkit were done with excuses people made not to exercise, so they created it.

When you don’t want to perform a difficult move, you can skip it as you could skip a song. The app even integrates Spotify to listen to music while exercising.

It was a year ago that they started the company. They are the ones who write the content. When they made $2 million with a fitness tracking app five years ago, they had the idea to create a new one.

Their business last year brought in $775,000. Ads accounted for one-third of this income, and subscriptions accounted for two-thirds. They earned $90,000 in the past three months.

The company received $2.5 million from venture capitalists. They’ll also start selling extra content with special equipment soon, so keep an eye out for that.

Most people who use the free app pay for the premium service. They are still profitable even with all that extra ad space.

Their field is extremely well-known to Mr. Wonderful. He gives them $1.5 million in debt for two years, at a rate of 7.5 percent, plus 2.75 percent of the company as a bonus.

Mark wants to get $1.50 million for 10%. He also gets $1.50 million worth of unsold advertising.

Lori was unsure of what to do at one point. Mark interrupts Lori in this case, and she says that he’s being rude to her.

It could be dangerous to listen to Lori, Mark says.

Mark wants to get back to work after a break. Mark, let her talk says Robert: Finally, Lori says she can’t see the value; she’s out.

Robert said he would offer $1.5 million for 16% at the beginning of the conversation. Mark’s offer is better, so Robert leaves.

Should Barbara spend $1.5 million or just $3.99 on the app to get in shape? She’ll download it when she’s not at home.

Mark shakes hands with them, and they say yes.

People in the hall say they like what Mark brings to the table and how well he knows sports. Mark Cuban agrees to invest $1.5 million for 10% equity in Sworkit. 

What Happened To SworkIt After Shark Tank?

Mark Cuban’s deal with Ben and Greg left them satisfied after the Shark Tank.

There were some problems encountered during the due diligence process. Mark’s vision for SworkIt did not correspond with the vision of the entrepreneurs, so they did not want to work together.

The Sharks did not support their app because the deal did not work out.

There was no point in worrying about the deal falling through. SworkIt didn’t go away. They are trying to get more people to help their dreams become a reality.

Blink Fitness partnered with the company in March 2020 to provide a wider variety of workout content. Workout apps across the board saw more business thanks to the Covid-19 pandemic.

Over 30 million people (including my wife) have downloaded the app, and 10 million have signed up.

The company generates about $60 million in sales each year! It has been downloaded over 27,000 times and has received a rating of 4.77 out of 5. See what hard work Sworkit does!

SworkIt Shark Tank Update

After the Shark Tank episode aired, SworkIt gained a lot of attention, as many other products do on the show. After the episode aired, SworkIt gained even more attention.

Ben and Greg were pleased to have struck a deal with shark Mark Cuban after leaving the shark tank. Their meeting with Mark was to discuss the finer points of the deal and close it.

Therefore, the deal did not work out for everyone. Ben and Greg had different ideas about what the product ought to be. Mark wanted one thing, while Ben and Greg had another idea.

Sworkit Shark Tank Update

The deal didn’t work out for Ben and Greg, but they have been regrouping and enjoying the app’s publicity from their appearance.

The media has also been paying attention to SworkIt, which has attracted other investors who want to invest in it.

Ben and Greg’s trip to the shark tank wasn’t a waste of time, even if the deal didn’t work out. 

They’re sure to find another investor soon who will help them get SworkIt where they want it to be. We hope they both do well.

Is SworkIt Still In Business?

Young and Coleman reached an agreement with billionaire Mark Cuban through Shark Tank. He offered them $1.5 million for a 10% stake and advertising space on the Sworkit app that was not sold.

The deal collapsed afterward. Young said there were just a few last things to be done on both sides. “It kind of fell apart.”

If you’re on iOS, you can still use Sworkit. It has a 4.7 out of 5 stars rating. The app also works with watches that you wear.

The company aims to cut childhood obesity by 50% by 2026. In 2019, they had more than 30 million workouts done by people of all ages. They started to reach out to the corporate wellness market the next year.

You May Also Like
Cerebral Success Shark Tank Update
Read More

Cerebral Success Shark Tank Update

Cerebral Success is a supplement that helps you stay focused and make your memories stronger.  “Brain pills” entrepreneur…