Myswimpro

Personal Swim Coaching Program — named best Apple Watch app of the year

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Form C
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Security Type
Debt
Categories
Technology, Retail
Min Investment
$100
Location
Ann Arbor, MI
Offering Date
February 13, 2019
Expected Close Date
April 29, 2024
Target Raise
$50.00K-$618.00K
No. Investors
455
Security Price
$1
Deal Notes

First $200K investors of this fundraise will invest in a SAFE with a $10M valuation cap and 20% discount.

$25K+pro rata right threshold

Website
myswimpro.com
Number of Employees
12
Cash
$502,783
Revenue
$1,674,127
Short Term Debt
$630,051
Cost of Goods
$246,462
Long Term Debt
$0
Net Income
$-591,688

Company Description

MySwimPro is the top fitness application for the fastest growing sport in the world. We help people in over 150 different countries improve their performance and health through personalized swim training plans, instructional video content, and detailed analytics. We brand ourselves as a technology and media company that creates mobile and wearable apps to help people lead happier and healthier lives.

Perks

$500+ Our minimum investment level starts at $500 USD. At this level you will officially become an investor in the business and play a part in helping millions of people around the world lead happier and healthier lives.
$1,000+ At the $1,000 investment level, you will receive a MySwimPro Branded Apparel Kit that includes an Under Armour Athletic 1/4 Zip Pull-Over, an official MySwimPro T-Shirt, and an MSP Silicone Swim Cap.
$2,500+ At the $2,500 level, you will receive all lower investment level perks in addition to the Official MySwimPro Triathlon Racing Kit that includes a Triathlon Jersey, MySwimPro Towel, and an Open Water Swim Buoy.
$5,000+ At the $5,000 level, you will receive all lower investment level perks in addition to lifetime access to the MySwimPro ELITE membership, along with complimentary future app software memberships.
$25,000+ At the $25,000 level, you will make a huge impact in helping people lead happier and healthier lives through swimming. You will receive all lower investment level perks in addition to Pro-Rata Investment rights. Pro-rata investment rights give an investor the right to participate in a subsequent round of funding to maintain their level of percentage ownership.

Use of Proceeds

Intermediary Fee: 6%

Launch Triathlon App: 94% - 10%

App Translation: 0% - 54%

Wearable Tech Integration: 0% - 40%

Develop Training Algorithm: 0% - 30%

Management Team / Advisory Board Bios

Fares Ksebati - CEO and Co-Founder
3x US Masters Swimming National Champ. Coached for last 10 yrs: USA Club, Masters & triathlon.

Adam Oxner - CTO and Co-Founder
Swam at the Univ. of M. Passion for building products that make a difference in people's lives.

Michael Allon - Android Lead and Co-Founder
Lost 100lbs using MySwimPro! He’s passionate about designing mobile products and building startups.

Deal Notes

First $200K investors of this fundraise will invest in a SAFE with a $10M valuation cap and 20% discount.

$25K+pro rata right threshold

Amount Raised : $440,407
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Security Description

Debt is something, usually money, borrowed by one party from another. Debt is used by many corporations and individuals to make large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.

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