CLOSED
GET A PIECE OF WHIPR
Paddle, Ski, Row +
$1,350,355.56 Raised
REASONS TO INVEST
TEAM
Luke Tipple • CEO
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Richard Little • COO
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Rich Froning Jr • Advisory Board Member & Partner
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Get a full-sized workout from a portable machine
Imagine a rowing machine that fits in a suitcase or a 10-sport trainer that stores next to your sneakers. That’s Whipr.
Whipr can replace an entire gym's worth of cardio equipment and, fully equipped, still costs less than the leading rowing machine.
THE PROBLEM
Cardio Machines: Expensive, Bulky, and Non-Portable
THE SOLUTION
Welcome to Whipr
Whipr is the first machine that answers this problem by creating a portable, multifunctional machine that is also cost-effective.
So along with solving spatial and financial issues - we help motivate your workout with our app that tracks and uploads your workouts to online services like Strava, and in the near future will deliver our workout videos (free and subscription).
And lastly, the base unit is VR ready, adding a new level of excitement and motivation to our customer's workouts. We expect to be fully VR compatible by Q4 2021 after our consumer product rollout and subsequent sync with the Holofit Holodias servers.
*The above graphic contains images of our beta app which is currently not available to the general public.
THE MARKET
Rowing into a Growing Market
The fitness equipment market size was valued at $11.5 billion in 2019 and is expected to reach $15.2 billion by 2027, registering a CAGR of 3.5% from 2020 to 2027. The cardiovascular training equipment segment, that Whipr is targeting, led in terms of fitness equipment market share in 2019 and is expected to retain its dominance throughout this forecast period (source).
While COVID created a huge boost in-home fitness sales due to gyms shutting their doors we expect the demand for fitness equipment to stay strong. In a survey published in July 2020, online broker TD Ameritrade found that 59% of Americans say they don’t plan on renewing their gym memberships once the pandemic is over (source). We believe the opportunity for Whipr in the market, today and in the future, is gigantic.
OUR TRACTION
We’ve Been Pretty Busy
And yes, we’ve only been around for 8 months.
We launched in August 2020 and have raised over $5.7 million in pre-orders and various campaigns since.
Month Over Month growth in the post-campaign period has been 47%, 94%, 80%, 156%, 4%, 5.5% - with the latter two months leveling out our growth commensurate with our advertising, establishing our expected trajectory of an average of 3-5% growth per month.
Here’s more on our progress:
WHAT WE DO
Paddle. Ski. Row +
The Whipr base unit is the core of our ‘ecosystem’ - able to be used on its own for plyometric movements or be combined with our patent-pending accessories to train for stand-up paddling, skiing, rowing, swimming, kayaking, surfing, canoeing, and dragon boating.
The base unit is an ERG machine - meaning it measures work effort with its onboard computer. The session logs are stored onboard, or transferred to online services like Strava via our app, which also serves as a recording and tracking device.
Here’s more on our product line:
THE BUSINESS MODEL
How and Where We Will Grow
We run a DTC sales model with products available via our website. We are also establishing wholesale distributor relationships, and have signed deals for Australia and, New Zealand with, the Netherlands, and Korea in negotiations.
Consumer sector:
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Our AOV has grown in 2021 from $521 to $814 and now $830.50 since launching on Shopify.
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Our gross profit margin on our most purchased items averages at 62%. This will increase to 60% when we are no longer in the pre-order stage and selling at MSRP.
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Our Operating Margin averages at 25.7%.
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Initial orders from wholesale businesses are around $50k with their initial test batches.
Medical applications and sales
We are also excited about the potential for growth in the medical space. We are currently participating in two university-led research studies that approached us for the purpose of integrating the Whipr base unit into their treatment plans.
The studies are being conducted at Duke University (1) (late 2021) and the University of Texas, Harry S. Moss Heart Trust for Cardiovascular Research (2) (starting 10/21). The studies are focused on:
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Perioperative care and rehabilitation for COVID and post-op patients
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Preventative care and treatment for patients of a non-drug responsive terminal heart condition
The video below shows Whipr being used in the early stages of the University of Texas trials. Should these studies prove successful it may open a market for Whipr in medical sales servicing over 6 million affected patients in the US each year.
*This testimonial may not be representative of the experience of other customers and is not a guarantee of future performance or success.
HOW WE ARE DIFFERENT
We are Making Waves
We believe we are the only portable and space-efficient cardio ERG machine on the market, and also the smallest, most multifunctional machine that is compatible with Virtual Reality training apps.
This means Whipr has created an entirely new segment in the home and travel fitness market.
We are pioneers in portable rowing machines, and in combining them with multiple other functions ensuring less boredom, more freedom, and lower cost than our competitors.
THE VISION
The Next Steps
We plan on…
- Expanding the product line and virtual reality training options.
- Building out our subscription service
- Releasing more SKU’s that complement the ecosystem
Here’s a sneak peek at our next products
PRO MODEL
The pro model of our base unit is designed for professional use by commercial gyms, hotels (in-room fitness), personal trainers, rehab centers, and medical applications as well as for the home fitness enthusiasts that make up our core following. The production model will be slightly larger and will include features such as a longer cord, finer resistance adjustment, quieter operation, upgraded construction materials, and a high-resolution screen.
WALL MOUNT
Our wall mount enables more permanent installations. We’re developing it along with the help of adaptive sports athletes who are not able to use traditional rowers due to being wheelchair-bound. We also see it working really well in rehabilitation centers and home gyms. This is a highly requested item that we expect to sell really well to our current and future client base.
*This product is in development and intended for release in late 2021. The images are computer renderings generated by our design engineers.
SKI ADAPTER FOR WALL MOUNT
Expanding on our wall mount is a commercial-grade ski attachment for one or two base units. Again, a very highly requested item for users who do not have a convenient door to attach our current travel ski accessory option.
*This product is in development and intended for release in late 2021. The images are computer renderings generated by our design engineers.
DRAGON BOAT SEAT
The dragon boat seat is an add-on to our rower, turning it into a highly functional training tool for the more than 50 million dragon boat paddlers worldwide (source). This is a highly requested item that we’re excited to release.
*This product is in development and intended for release in late 2021. The images are computer renderings generated by our design engineers.
OUR LEADERSHIP
Meet the Team
Luke Tipple, a well-known Discovery Channel host, is the founder of Whipr. Luke was responsible for its launch, along with customer service, campaign management, web design, video production, and photography from inception through to over $5 million in sales. He’s since expanded the contracted and in-house team to include key people to manage finances, advertising, growth management, inventory, manufacturing, future product development, shipping, and logistics.
Luke is joined by Shark Tank star & CEO of FUBU Daymond John who first took interest when the Kickstarter exceeded $1m raised in just 6 days and now serves as an Advisor.
Together we lead a diverse group of industry experts, fitness fanatics, engineers, product designers and marketing specialists. We’re carving out a new niche in the fitness industry, and we have the product and the people to own it.
WHY INVEST
High-Demand Fitness
ABOUT
HEADQUARTERS
3784 Mission Ave Ste 148
Oceanside, CA 92058
WEBSITE
View Site
TERMS
Whipr
Overview
PRICE PER SHARE
$1.15
DEADLINE
Dec. 15, 2021 at 7:59 AM UTC
VALUATION
$19.95M
FUNDING GOAL
$10K - $2.5M
Breakdown
MIN INVESTMENT
$250.70
MAX INVESTMENT
$106,999.45
MIN NUMBER OF SHARES OFFERED
8,695
MAX NUMBER OF SHARES OFFERED
2,173,913
OFFERING TYPE
Equity
SHARES OFFERED
Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
Voting Rights of Securities Sold in this Offering
Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Company Perks*
Time-Based:
Friends and Family Early Birds
Invest within the first 48 hours and receive additional 8% Bonus Shares.
Super Early Bird Bonus
Invest within the first week and receive additional 5% Bonus Shares.
Early Bird Bonus
Invest within the first two weeks and receive an additional 2% Bonus Shares.
Amount-Based:
$500+ | Tier 1
Receive an additional 10% off any order made through our website.
$1000+ | Tier 2
2% Bonus Shares + Whipr hat + additional 10% off an order made through our website.
$2,500+ | Tier 3
3% Bonus Shares + Whipr hat + your choice of a row package ($788 MSRP) or a paddle/ski package ($657 MSRP). Product supplied excluding shipping and taxes.
$5,000+ | Tier 4
4% Bonus Shares + Whipr hat + Whipr paddle/ski/row package (retail $1056 MSRP). Product supplied excluding shipping and tax
$10,000+ | Tier 5
6% Bonus Shares + Whipr hat + Whipr paddle/ski/row package (retail $1056 MSRP). Product supplied excluding shipping and taxes.
* Note these perks do stack with the other live offering perks.
The 10% StartEngine Owners' Bonus
Whipr will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.15 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $115. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors' eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
*All perks occur when the offering is completed.
ALL UPDATES
REWARDS
Venture Club
Venture Club Members earn 10% bonus shares on top of this and all eligible investments for an entire year. Not a member? Sign up at checkout ($275/year).
$500
Tier 1
Receive an additional 10% off any order made through our website.
$1,000
Tier 2
2% Bonus Shares + Whipr hat + additional 10% off an order made through our website.
$2,500
Tier 3
3% Bonus Shares + Whipr hat + your choice of a row package ($788 MSRP) or a paddle/ski package ($657 MSRP). Product supplied excluding shipping and taxes.
$5,000
Tier 4
4% Bonus Shares + Whipr hat + Whipr paddle/ski/row package (retail $1056 MSRP). Product supplied excluding shipping and tax
$10,000
Tier 5
6% Bonus Shares + Whipr hat + Whipr paddle/ski/row package (retail $1056 MSRP). Product supplied excluding shipping and taxes.
JOIN THE DISCUSSION
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PINNED BY STARTUP
Caleb Naysmith
4 years ago
Phenomenal idea, and an undeniably strong team to make it happen. When do you guys think you will be able to start fulfilling and shipping pre-orders and such?
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Jay Mirchandani
2 years ago
Damn, thats a lot of money gone down the drain :/
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John Teichert
2 years ago
Took my money, never provided updates and didn't even honor my 'perk' for investing. They just cancelled the discount code! When I attempted to contact support about this I received only form response e-Mails and then my ticket was closed. Customer service is unimportant to Whipr. It's no surprise at all that they're going under. Luke Tipple is a sad man that I have no respect for.
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Caleb Naysmith
2 years ago
Unfortunate. I thought this looked promising, but this does highlight the importance of diversification. Wrote some thoughts here: https://medium.com/p/c5220bc5e9d9
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Rahul Patel
2 years ago
It was worth a try and a good investing lesson for us newbies even though we followed the advice of DJ from Shark. You don't always win.
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John Teichert
3 years ago
Whipr won't honor the code for my investment perk. They can't be bothered to even answer an e-Mail inquiry about it. Just classless and unprofessional. The way they run their business, it's no surprise they're going under.
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James Bondulich
3 years ago
Has anyone else received an email about Whipr going out of business?
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James Bondulich
3 years ago
Hello team. Do you have enough capital and plans for the upcoming Christmas season? Yes folks, to get Whipr items under the tree by Christmas, planning has had to happen PDQ, if not already done.
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John Teichert
3 years ago
It's a bit quiet around here. Haven't had an update in over 5 months, anything new to report?
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HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
WHY STARTENGINE?
REWARDS
We want you to succeed and get the most out of your money by offering rewards and memberships!
SECURE
Your info is your info. We take pride in keeping it that way!
DIVERSE INVESTMENTS
Invest in over 200 start-ups and collectibles!
FAQS
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000 are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, they are limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancellation period. Once the four-hour window has passed, it is up to each company to set their own cancellation policy. You may find the company’s cancellation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to be sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
PINNED BY STARTUP
James Blatchley
4 years ago
This looks like a phenomenal product! That's why I just made this my very first investment of this sort. The versatility is a real attraction, as well as it's portability! Great job! I love that Daymond John is on board too. He's an amazing guy! I can't wait to get my row package.
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