VirZOOM

Neutral
BETA

The future of fitness, in partnership with Facebook!

Analytics

Raised to Date: $365,266

Aggregate Commitments $
Platform

Wefunder

Start Date

09/30/2020

Close Date

01/15/2021

Min. Goal

$100,000

Max. Goal

$535,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$20,000,000

Discount Rate

15%

Weekly Commitments $
Status

Active

Reporting Date

10/18/2020

Days Remaining

87

% of Min. Goal

365%

% of Max. Goal

68%

Likelihood of Max
Avg. Daily Raise

$20,293

# of Investors

269

Momentum
Location

Cambridge, MA

Industry

Fitness & Wellness

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

High

Capital Intensity

High

Business Type

Growth

VirZOOM, with a $20 million valuation cap, is raising funds on Wefunder. The company has created the next generation of interactive and immersive in-house fitness through virtual reality. The customers get to engage in multiple virtual activities with a lot of fun. Eric Janszen and Eric Malafeew founded VirZOOM in 2015 and have raised over $11 million in previous rounds of financing. The proceeds of the current crowdfunding campaign, with a minimum raise of $100,000 and a maximum raise of $535,000, will be used to expand development staff and support staff and increase the marketing budget. VirZOOM has partnered with Facebook to expand its VRfitness offering for its Oculus users.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$219,279

$278,234

COGS

$161,459

$179,961

Tax

$0

$0

 

 

Net Income

$-2,827,248

$-2,277,396

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$49,586

$7,977

Accounts Receivable

$37,602

$10,855

Total Assets

$183,922

$209,577

Short-Term Debt

$1,663,092

$9,207,015

Long-Term Debt

$281,745

$0

Total Liabilities

$1,944,837

$9,207,015

Summary of Crowdfunding Raises
Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
01/15/2021 Wefunder $20,000,000 $365,266 SAFE Active RegCF
04/14/2019 Wefunder $8,000,000 $288,525 SAFE Confirmed Closed RegCF

Ratings

last updated 10/20/2020

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