MySwimPro
Personal Swim Coaching Program — named best Apple Watch app of the year.
Analytics
Raised: $457,357
Aggregate Commitments $
Platform
Wefunder
Start Date
11/09/2021
Close Date
02/28/2022
Min. Goal
$50,000
Max. Goal
$5,000,000
Min. Investment
$100
Security Type
SAFE
Funding Type
RegCF
Series
Pre-Seed
Valuation Cap
$20,000,000
Discount Rate
25%
Rolling Commitments $
Status
Funded
Reporting Date
03/06/2022
Days Remaining
Funded
% of Min. Goal
915%
% of Max. Goal
9%
Likelihood of Max
Funded
Avg. Daily Raise
$4,120
Momentum
Funded
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Location
Ann Arbor, Michigan
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
MySwimPro, with a valuation of $20 million, is raising funds on Wefunder. The fitness application offers training experience to beginners and professional swimmers with the help of training plans, video content, personalized workouts, and analytics to measure performance. MySwimPro has over 1.5 million app downloads and has generated over $3 million in subscription revenue. Fares Ksebati, Adam Oxner, and Michael Allon founded MySwimPro in 2015. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $5,000,000. The campaign proceeds will be used for content marketing, product development, marketing, and operational expenses.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$969,752 |
$1,126,063 |
|
COGS |
$0 |
$0 |
|
Tax |
$25 |
$1,456 |
| ||
| ||
|
Net Income |
$89,842 |
$143,934 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$745,378 |
$671,540 |
|
Accounts Receivable |
$41,447 |
$46,349 |
|
Total Assets |
$1,001,842 |
$819,389 |
|
Short-Term Debt |
$9,188 |
$7,928 |
|
Long-Term Debt |
$746,871 |
$664,070 |
|
Total Liabilities |
$756,059 |
$671,998 |
Financials as of: 11/09/2021
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