Ben Young and Greg Coleman launch the free workout app SworkIt in Shark Tank episode 717. Imagine it as having a personal trainer right at your fingertips. Simply Work It is abbreviated as “SworkIt.” It can be used for exercise.
This workout app was derived from Nexercise, which Ben and Greg built. The Wharton MBAs Former Air Force pilots Ben and Greg both hold MBAs from the Wharton School.
It began when Ryan Hanna, who created the structure of the app as a project to learn how to code, introduced them. He was absent from the episode.
What Is SworkIt?
For iOS and Android, there is a fitness app called Sworkit. The name of this programme is Simply Work It. You can pay for it or not.
The software offers four different types of exercise: cardio, strength training, stretching, and yoga, and users can combine them to obtain the best results from each.
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You can change the duration, amount of repetitions, exercises, and workout instructions when using a smartphone. Your trainer is you. You can also stick to the specified exercise schedule.
The exercises can be be performed in a gym or at home. The commercial edition, which doesn’t include adverts, gives you more options for customising the appearance of your site.
Who Is SworkIt’s Founder?
There are several other types of workouts available on Sworkit, including aerobic, core strength, stretching, yoga, and pilates.
The user can decide which workout to do and how long to work out for. After that, they can incorporate their workout playlist. If she doesn’t like it or can’t do it, you can skip one squat.
Three friends, Ben Young, Ryan Hanna, and Greg Coleman, established Sworkit in 2012. (CEO). While in college, Ryan was a captain in the US Army. Greg was in the military for 20 years.
For Sworkit, Greg and Ryan are still on the board. Ben earned a computer science degree from the University of Virginia. He has also had success in the world of business development.
He left his position as CEO in 2019.
He continues to work for the company as a development and strategy consultant, but he is no longer in command.
Workout apps that could be adjusted to each user’s preferences were required. They consequently produced the Nexercise fitness tracker as their initial offering.
In order to track his military training, Ryan created Sworkit, which he sold to them in 2014. The following year, a kid-friendly version was created.
They had over 10 million users, were among the top five fitness applications, and generated roughly $2 million in revenue from advertising a year or so after their introduction. They sought to improve their app and expand it to a larger market, so they looked for money.
After Shark Tank, a $1.5 Million Deal Between Sworkit and Mark Cuban Fell Through
Ben Young and Gregory Coleman of Washington, DC, presented their app Sworkit on Shark Tank in February 2016. Sworkit offers a database of exercise routines (cardio, core strength, stretching, yoga, pilates). The user can sync her own playlist to the workout once she selects the workout and its duration.
She can skip any squats that she dislikes or finds difficult.
Young and Coleman struck a deal on Shark Tank with billionaire Mark Cuban, who promised them $1.5 million in exchange for 10% of the business and access to unsold ad space on the Sworkit app. But once the show aired, the contract was abandoned.
“It came to a point where we felt it was going to close, but there were just some last things, on our side, on their side, and it kind of just went apart,” Young told Washington Business Journal. Although neither party wanted to give in on those demands at that point, “[Cuban] didn’t like some of the things we wanted, and we didn’t like some of the things that he wanted.”
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Net Worth
The app has over 30 million downloads and ten million registered users as of December 2021. (including my wife). Their yearly revenues would be roughly $60 million based on that. With over 27,000 ratings, they have a 4.77 star rating in the app store.
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