Virzoom

The Future of Fitness

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Security Type
Equity
Categories
Technology, Entertainment, Social Impact, Retail
Min Investment
$250
Location
Cambridge, MA
Offering Date
September 20, 2018
Expected Close Date
July 06, 2023
Target Raise
$10.00K-$911.96K
No. Investors
131
Security Price
$0.49
Deal Notes

Future Equity (Wefunder SAFE)

$8Mvaluation cap

20%discount

$50K+pro rata right threshold

A SAFE gives you the right to future shares in the company. If you invest, you're betting the company will be worth more than $8M in the future.

Valuation
$45,758,966
Website
virzoom.com
Number of Employees
6
Cash
$93,243
Revenue
$496,629
Short Term Debt
$2,239,204
Cost of Goods
$174,270
Long Term Debt
$38,400
Net Income
$-1,843,836

Company Description

We invented a new kind of exercise that takes place in virtual reality. We use the ubiquitous stationary bike as the universal controller for this exercise. You’re seated safely, your hands are on the handlebars, and you're pedaling. It turns out to be the ideal platform for exercise with VR. You are moving through virtual worlds by pedaling forwards and backwards, and you're steering by leaning.

Perks

$500+
Your name memorialized on the VirZOOM Silver Sponsors virtual planet for all future players to see: "VZfit made possible by the generous support of YOUR NAME.

$1,000+
"Your name memorialized on VirZOOM Gold Sponsors virtual planet for all future players to see: "VZfit made possible by the generous support of YOUR NAME.”

$10,000+
$2,000 off VZfit: $995 System + Free Lifetime Membership (SRP $2,995 + $99.95/month) 3-Year Value: $5,598.20 (Stationary Bike Required)

$25,000+
Free VZfit System: $0 System + Free Lifetime Membership (SRP $2,995 + $99.95/month) 3-Year Value: $6,598.20 (Stationary Bike Required)

Use of Proceeds

If we raise: $250,000

95% Operational and working capital:

- Develop VZfit vertical market reference accounts and execute on global distribution partnerships- Ship vSports Challenges VZfit product release- Finance production to fulfill VZfit orders- Continue to raise 2017 Note funds- Execute on qualified financing engagement with Shiboomi Capital

5% Wefunder Intermediary fee

 

If we raise: $600,000

95% Operational and working capital, in addition to Minimum Fund Raise Use of Funds:

- Execute on Q4 Vertical market pilot program

- Close one or more additional distribution agreements in progress

5% Wefunder Intermediary fee

Management Team / Advisory Board Bios

Eric Janszen - Co-founder and CEO_x000D_
Previously Founder and President of iTulip; Managing Director of seed investment firm with 6 exits_x000D_
_x000D_
Eric Malafeew - Co-founder and CTO_x000D_
20+ years in the videogame industry, Technical Director / Lead Systems programmer at Harmonix

Deal Notes

Future Equity (Wefunder SAFE)

$8Mvaluation cap

20%discount

$50K+pro rata right threshold

A SAFE gives you the right to future shares in the company. If you invest, you're betting the company will be worth more than $8M in the future.

Amount Raised : $201,174
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Security Description

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