This company is no longer in business. Investors can get details about any potential exits or failures here.
PaidWorkout
Early Stage
The Fitness Motivation App That’s Gamified Wellness
Overview
Raised: $167,040
Total Commitments ($USD)
Platform
StartEngine
Start Date
10/18/2021
Close Date
04/19/2022
Min. Goal
$10,000
Max. Goal
$1,069,998
Min. Investment
$250
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$0.65
Pre-Money Valuation
$5,010,416
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$918
# of Investors
31
Momentum
Funded
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Year Founded
2020
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
PaidWorkout, with a valuation of $5.01 million, is raising funds on StartEngine. The company has developed a fitness motivation app that gamifies wellness. The app is driving the growth of the wellness industry by incentivizing people for their fitness and activity. It uses scientifically proven motivation techniques for users to stay consistent with their workout program and reach their activity goals. PaidWorkout has acquired more than 20,000 users in the first six months of its launch and received $65,000 in payouts from paid users. Nicole Pekerman and Michael Bluestein founded PaidWorkout in May 2020. The current crowdfunding campaign has a minimum target of $9,999.60 and a maximum target of $1,069,997.50. The campaign proceeds will be used for growth and expansion.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$64,716 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-64,716 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$524 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$52,524 |
$0 |
|
Short-Term Debt |
$117,240 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$117,240 |
$0 |
Financials as of: 10/18/2021
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