Coleman, who is the CEO of Sworkit, remembers the moments before entering the tank. “I kind of affectionately call it the gift that keeps on giving.”, Copyright 2021 Bethesda Magazine. “I studied it like it was a test,” he says. Ben explains that five years ago, they developed their first product, a fitness tracker, called Nexercise. Lori deliberates before confirming that the valuation is just too high for her and for that reason, she declares herself out. “I think he was enjoying the banter.”. As SworkIt follows these guidelines, it has been hailed one of the best workout apps on the market. There is also a premium or paid version of the app in which users of the app can save various customized workouts, adjust the exercise or resting periods and there is even an additional âask the trainerâ section. Shark Tank Renewed for Season 8 by ABC. Sworkit seeks individuals who want to help others in getting fit and being healthy through simple workouts. First they broke Shark Tank’s record in terms of the largest investment in a tech startup company, and secondly, they achieved this feet as Black-innovators operating outside the Silicon Valley. Mark decides to offer the $1.5 million for a ten per cent share in the company as well as $1.5 million worth of advertisement inventory giving him a platform to advertise his various products on the free version of the SworkIt app. Although the deal did not work out for the duo, the trip to the shark tank was not a waste of time and Ben and Greg are sure to find another investor soon that will help them bring SworkIt to where they want it to be. Lori wants to know what exactly the pair need the money for and what they are going to do with it if she were to invest. Whether you’re an absolute beginner, intermediate, or advanced, Sworkit makes it simple to get in shape and stay in shape. According to the American College of Sportâs Medicine, good workout regimes should include a mix of cardio, strength and resistance training as well as flexibility training. After a moment of silence, Ben announces that they have a deal. December 30, 2020. Mr. He will give them the $1.5 million in debt and in return he wants an equity of 2.75% on closing. In a heated moment, Cuban said, “Sara, you’re literally at risk of going out of business.” The mother-daughter duo walked out without a deal. That point was demonstrated on February 19, when local entrepreneurs Ben Young and Gregory Coleman brought their exercise app, Sworkit, onto ABC’s Shark Tank. Kevin makes an offer to a speechless Greg and Ben. When Young, Sworkit’s chief innovation officer, suggested they apply for Shark Tank, Coleman wasn’t sold on the idea. Sworkit is the personal fitness app designed for the startup generation. Local businesses Snacklins, Soupergirl, CertifiKID and Sworkit went on ABC's Shark Tank to pitch their businesses. Mark is very eager to invest in this product and is quick to ask Ben and Greg if he has a deal. But after the taping, the deal dissolved. Shark Tank: Sworkit Personalized Workout App Gets Investment from Mark Cuban for $1.5 Million Erica Abbott February 19, 2016 Twitter Facebook LinkedIn Flipboard 0 Get results-focused knowledge on weight loss, strength, nutrition, and more on our blog. The pitches on the show lead to real deals—if the investors (the sharks) choose to bite. A subscription of $9.99 per month will be charged allowing users to access much more content and equipment. This means you can devise any sort of workout to exercise any or all parts of your body from your fingertips on your smart device. Wonderful for his tough criticisms and ruthless deals—cracked up. However, even though the deal not closing was a blow for both Ben and Greg, they have since been regrouping and enjoying the publicity the app received from appearing on the show. Barbara opens the questioning when the duo finishes their pitch asking if music can be put to the workouts generated by the app to which Ben replies that there is a Spotify integration with the app â an appealing feature for many users who like to listen to some music as they train. Nohbo Before Shark Tank. Robert wants to know if they made money from the first product and Greg explains that since their company launched, they have made just under $2 million. After a relentless back and forth, O’Leary, impressed with Brian’s negotiation skills, proclaimed, “I love you.” The shark agreed to drop the return-on-investment contingency and lower his stake to 19%. “That wasn’t edited,” Kobrosly says. But Sworkit stands out with personalized workout programs from trainers, all with high-quality demonstrations and an ad-supported platform. Nexercise is a app developer that makes the popular fitness app Sworkit. ... Greg Coleman and Ben Young appear on Shark Tank where they verbally accept the largest tech deal at the time on the show. O’Leary offered $600,000 for a 20% equity stake, with the contingency that he’d get a three times return on his investment if he exited the company. After an awkward pause, Kobrosly, who lives in D.C.’s Tenleytown and started his Rockville company in 2016, began again and impressed the investors with knowledge of his company’s finances, and with his humor. SworkIt is a free fitness application for your smart device created by friends turned entrepreneurs, Ben Young and Greg Coleman. Robert is interested to hear more about how the pair started off on the SworkIt journey. Today on Shark Tank Breakdown, we cover some extremely impressive products! The Ratners accepted the offer, and the partnership has been smoother sailing ever since. Barbara claims that currently she exercises three times a week and she has the luxury of a personal trainer. There are tons of fitness apps in the mobile app stores so, what makes Sworkit unique? Saturday, Mar 05. Unfortunately for all parties involved, the deal did not close due to differences in what Mark wanted and what Ben and Greg wanted for the product. Sworkit is basically like having a personal trainer on your smart phone. The NFL Wild Card Round is just a few days away. Wonderful, ever keen to talk about the financial side of things want to know about previous investors in the company and the companyâs valuation. Kevin claims that he finds Ben and Greg very credible but it comes as no surprise that he is struggling with the valuation of the company and finds it too much of a risk. With Sworkit, the feeling of being too busy, too intimidated, or too unmotivated will be a thing of the past. So that leaves two offers on the table from both Mark and Mr. The company has been seen on USA Today, Shark Tank, Tech Insider, and more, and has been included in workout, exercise, health, and fitness “Best Apps” lists in Women’s Health, Cosmopolitan, Inc., Healthline, Active.com, and more. Although Ben and Greg had been reaping the rewards of their app being a massive success, they decided that additional help and expertise was needed to take the app to the next level. Well, as I said, it's an app, so that part shouldn't be hard. We wish them both the very best of luck! Make 2020 the year you finally take control. Ben Young and Gregory Coleman, CEO and COO of Nexercise, respectively, walked into an episode of ABC’s Shark Tank last week with their popular workout app, Sworkit (“Simply Work It”). Getting Started With Sworkit. You can live your best life, once and for all. Interview with Ben Young, CEO. Higgins began mentoring the Polons and put them in touch with other business owners and marketing firms. document.getElementById("comment").setAttribute( "id", "ada701d211ddbf51b1b4c7a99a8d5150" );document.getElementById("f2c767f764").setAttribute( "id", "comment" ); Save my name, email, and website in this browser for the next time I comment. Will the sharks bite and invest in SworkIt? The Sworkit co-founders advanced through the audition process and were set up with a producer. Knowing just that little bit of info, once you see Sworkit on Shark Tank, you'll probably want to know how you can get it. Like many products that appear on the Shark Tank, SworkIt experienced a lot of media coverage after the episode aired with the app becoming even more popular than it already was. Sounds easy right? … Now, with their new investment from “Shark Tank,” the partners plan to … An impatient Mark starts to get worried that Lori will make a better counter offer. Sworkit has more than 200 original videos and is available in 12 languages. All rights reserved. Greg demonstrates the app and the four key areas of it to the sharks so they can see just how easily the app generates a work-out tailored to you. Website by Web Publisher PRO, Montgomery County plays a starring role in more than 100 films, Here’s what to consider when deciding if solar energy is right for you, Strosniders Hardware to reopen in Bethesda on Tuesday with modified hours, Ridgewells Catering permanently laying off up to 278 employees, Taco eatery opening in Rockville’s Congressional Plaza in spring, Here's how many COVID-19 cases are in each Montgomery ZIP code compared to population, Chance meeting reunites Bethesda man, crew who saved his life after crash. Kobrosly, 34, who is still the majority shareholder, says he’s been pleasantly surprised by how closely he works with Cuban, and that the billionaire entrepreneur personally checks in with Snacklins every week. Report incorrect company information. “Now that we know [O’Leary], he’s a very nice guy,” Jamie says. After some deliberation Barbara decides to spend the $3.99 on purchasing the premium app instead of investing in another way and she also declares herself out. Further to that, with all the media coverage SworkIt has received, the app has been the subject of interest from other potential investors. SworkIt, short for Simply Work It is an app that is built to give users four different types of workout â strength training, cardio, yoga and stretching. After giving a short presentation, business owners ask for a monetary investment in exchange for an equity stake in the company. Sworkit entered the Shark Tank to debut a fitness app that customizes your workout and requires no equipment. I had flash cards.” But when he walked onto the set, also known as the “tank,” he froze. SworkIt Before Shark Tank SworkIt is a free fitness application for your smart device created by friends turned entrepreneurs, Ben Young and Greg Coleman. Sworkit has a bench of personal trainers who do the demonstrations. Since SworkIt has launched, it has gained a following of more than ten million users all over the world. She also acknowledges that her problem is that she knows she should be doing it five times a week and she sees SworkIt like the answer to her problems. Shark Mark Cuban, who owns the NBA’s Dallas Mavericks, made a deal with Kobrosly: a $250,000 investment for a 5% stake plus 5% in advisory shares. Sworkit delivers to users on-demand, video exercise that users can do anytime and anywhere. Ben explains that they want to double the number of people in their engineering team so they can further develop the speed at which the make advances to the SworkIt app. Ben then goes on to explain that they are already ready to roll out the next branch of this app â SworkIt Kids. Finally, a fitness system that understands your pain, frustration, and schedule. Sara says he told her that he regretted what happened during filming. Sworkit.com In February 2016, Ben Young and Gregory Coleman of Washington, DC pitched their app Sworkit on Shark Tank. Sworkit Youth Initiative. It takes users through a five-minute to over an hour-long workout that contains 3 fitness components: aerobic, strength & resistance, and flexibility. “We didn’t need the deal,” CEO Jamie Ratner, 43, says. Ben Young, CEO of Sworkit by Nexercise Inc., and Greg Coleman, president and chief operating officer, received an astounding $1.5 million investment offer from Cuban for their popular fitness app Sworkit in season seven of "Shark Tank." The Gazette Review is your daily news source covering everything from world news to personal finance.We provide the most recent, unbiased accounts of the news that matters to you.Contact us: [email protected], Aquabot Pool Rover S2 40i – Robotic Pool Cleaner Review, Doorman Update â What Happened After Shark Tank, NFL Playoffs: All the First Round Matchups, People Seen In US Capitol Incident Are Losing Their Jobs. Their business is based in Bethesda. SWORKIT Fitness App – To appear this Friday on “Shark Tank”. I'm a big animal lover, a complete foodie and a Muay Thai newbie. The local entrepreneurs who landed an investment from billionaire Mark Cuban on ABC’s “Shark Tank” for their fitness app Sworkit didn’t end up closing the deal — agreeing to … I've been writing for the past two years. “He had multiple employees that we could literally call any time of the day,” Kobrosly says. “I had notes. Even investor Kevin O’Leary—who co-founded a software technology company in the ’80s and now runs an investment firm and is sarcastically nicknamed Mr. And while the sharks complimented the soup—Sara says most of that footage ended up on the cutting room floor—much of the segment focused on the Soupergirl founders defending their valuation. Sworkit Blogs. With so many people now working from home, it can be difficult to get your daily exercise in. About Sworkit. Ben and Greg enter the shark tank, introduce themselves and SworkIt to the sharks and explain that they are in the shark tank today seeking $1.5 million in exchange for an eight per cent equity stake in their company. The app was first released back in 2014. “I would be lying to you if I said I didn’t spend awhile working on my, ‘I’m a Muslim from Iowa who invented a vegan pork rind,’ ” he says. Who says you can't get and stay in shape? We provide workouts, customizable plans, and resources that allow people to adopt and maintain healthy habits for life. The sharks liked the taste of Kobrosly’s product, made from fresh mushrooms, onion and yuca. I was getting more and more excited as I kept reading, which unfortunately lead me to make a novice mistake. “I nicknamed him Mr. Mensch,” Sara says. When real estate mogul Barbara Corcoran made an offer contingent upon Jamie and Brian turning CertifiKID, which was founded in 2010, into a franchise, Brian laughed out loud. In Shark Tank's current Season 9, Kelechi Anyadiegwu pitched her company, Zuvaa, a global online marketplace. You don’t have to live in the gym to be fit. Snacklins co-founder Samy Kobrosly had done his homework and felt prepared to pitch his vegan pork rinds on an October 2019 episode of Shark Tank. “It was nervous laughter,” he says. Welcome to the Shark Tank. When the coronavirus pandemic hit earlier this year, Cuban was there to help. Here's how they fared. The duo then go on to explain that the app is free and the revenue they have generated from SworkIt as a product is from the advertisements used in the free version of the app and the premium upgrades which cost $3.99. Monday, Jan 11. There is a core group of 6 sharks (Mark Cuban, Robert Herjavec, Barbara Corcoran, Lori Greiner, Daymond John, and Kevin O’Leary), 5 of which appear on any given episode of Shark Tank. The only difference between those that got a deal and didn't is their business and marketing plans. Cuban received a 10% share of the company. Each workout can be done from your own home â all that is required is motivation from the user of the app. Lori steps up next and informs Ben and Greg that thus far she has been on the fence as she watched the other sharks. As for their demographic, users range in … After leaving the shark tank delighted to have made a deal with shark Mark Cuban, Ben and Greg met with Mark to go through the finer details of the investment and close the deal. If you cannot perform a certain exercise for some reason, you can skip it and the app will give you an alternative exercise to do. Apparently the app had even managed to secure funding from Mark Cuban on the show Shark Tank. SworkIt, … Sworkit appeared on ABC's "Shark Tank" on February 19. When Greg Coleman and Ben Young were in business school together, they struggled to find time to work out. This means it has been propelled into the top five rankings of all the fitness apps out there on the market. The episode premiered in February 2016, but Coleman says his team still sees bumps in the numbers from reruns. Soupergirl’s Sara Polon walked into the tank with her mother, who is also the company’s co-founder, by her side. Kevin asks the pair if they are willing to âput some debt on the ballot sheetâ as he claims they can definitely handle it while not having to give up as much equity. Wonderful. “He’s a good soul.”, Potomac-based CertifiKID had already been in business for nearly a decade and had done $30 million in sales when it pitched its family-friendly deals and discounts website. “They help you get your one-minute spiel together,” Coleman says. Ben explains that SworkIt was launched a year ago but they have been in the health and fitness industry for the past five years during which they gained a lot of experience. Ben Young and Greg Coleman had their 15 minutes of fame when they shook hands with Mark Cuban on ABC’s “Shark Tank.” Then they had another moment in the … Robert informs both Ben and Greg that he loved them and the idea.Â He also claims that he was going to offer the $1.5 million required for a sixteen per cent equity share in the company but he acknowledges that Mark has a good offer on the table for the duo. The excuses like, “I don't have the time”, or “I don't have a gym.” The App teaches you how to do a workout anywhere, and shows you what to do. Sworkit's CIO is here to walk you through the key features and benefits of our iOS and Android app. He wishes the pair the very best of luck before declaring himself out. “I was very worried that they were going to show me laughing in her face, which really was not what I meant to do.”. The episode, which aired in October 2018, is a reminder for Polon of the grueling time spent pitching and fielding questions about their certified kosher, plant-based soup business. Anyadiegwu wanted $460,000 in return for a 10 percent stake in the company. “You’re just standing in silence by the doors, waiting…to walk into a quiet room in front of these five people you see on TV every week.” The Wharton School graduates impressed the sharks with their pitch, agreeing to give Cuban 10% of the company, plus $1.5 million worth of unsold ad inventory, for his $1.5 million investment. The free version of the app allows you to choose a set amount of time you can afford to dedicate to work out and all the user has to do is follow the instructions the app is giving you. Further to that, the app does not require for you to be part of a gym or to pay any high membership fees to attend classes. She recruited her mother, Marilyn Polon, a home cook who lives in Rockville, to start Soupergirl in 2008. Sworkit is a premium digital health and fitness company founded in 2012. The Polons asked the sharks for $500,000 in exchange for 10% of the business—a valuation that shocked the investors. 2018. “No one really ever pushes him,” Brian, 46, says. And to it’s credit – it had quite a following! That’s partly what gave Jamie’s husband, Brian, the president of CertifiKID, the confidence to spar with the indomitable O’Leary over the terms of his offer. Ben explains to the sharks that the duo is sick and tired of all the excuses that people across the United States and all over the world use to avoid working out. It’s offered as a free download as well as an expanded subscription version for either $2.99 a month or $19.99 per year. Shark Tank Season 9 Premiere Date and Slate of Guest Sharks Announced. Luckily, the tense exchange didn’t make the episode, which aired in April 2019. Mark quickly decides to make an offer to the duo claiming that Kevin is annoying him. The developer has been making headlines over the past week after Mark Cuban decided to invest $1.5 million in the company on the February 19 episode of Shark Tank. Before you know it, the workout is complete and recorded on the app. Ben and Greg developed Sworkit eliminates all the excuses people use for why they don't work out. Nohbo is the innovative creation of sixteen-year-old entrepreneur, Benjamin Stern of Melbourne, Florida. Sworkit From 'Shark Tank' Is Available Now To Give You A Personal Trainer In Your Pocket. Ben claims that SworkIt is like the Spotify only instead of songs you have various workout routines. The wife and husband team asked for a $600,000 investment in exchange for an 8% stake in their company, valuing the business at nearly $5 million, to which shark Daymond John first responded, “Oh, this is uncomfortable.” But after hearing about CertifiKID’s financial success, the FUBU apparel company co-founder was one of three sharks to offer the Ratners a deal. After filming, shark Matt Higgins, who co-founded private investment firm RSE Ventures and has invested in restaurant companies Momofuku and &pizza, reached out to Soupergirl.
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