VirZOOM
The future of fitness, in partnership with Facebook!
Overview
Raised: $548,968
Total Commitments ($USD)
Platform
Netcapital
Start Date
03/31/2017
Close Date
05/31/2017
Min. Goal
$499,999
Max. Goal
$999,999
Min. Investment
$99
Security Type
Equity - Common
SEC Filing Type
RegCF
Price Per Share
$0.94
Pre-Money Valuation
$8,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/31/2017
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$8,999
Momentum
Funded
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Year Founded
2015
Industry
Fitness & Wellness
Tech Sector
Hardwaretech
Location
Cambridge, Massachusetts
VirZOOM, with a valuation of $8 million, is raising funds on NetCapital. 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. The products of VirZOOM include vSports Content and vSports Controller that motivate sedentary people of all ages to exercise. Eric Janszen and Eric Malafeew founded VirZOOM in 2015. The current crowdfunding campaign has a minimum target of $500,000 and a maximum target of $999,999. The campaign proceeds will be used for R&D software, R&D hardware, inventory production, working capital, and vSports operations management.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$323,724 |
$0 |
|
COGS |
$288,744 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-2,965,863 |
$-1,710,846 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$239,141 |
$998,088 |
|
Accounts Receivable |
$33,974 |
$0 |
|
Total Assets |
$392,847 |
$1,054,856 |
|
Short-Term Debt |
$4,379,000 |
$2,524,051 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$4,379,000 |
$2,524,051 |
Financials as of: 03/31/2017
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| VirZOOM | 07/06/2023 | StartEngine | $45,758,966 | $192,665 | Equity - Preferred | Funded | RegCF |
| VirZOOM | 07/07/2022 | Wefunder | $30,499,157 | $1,476,203 | Equity - Preferred | Funded | RegCF |
| VirZOOM | 11/22/2020 | Wefunder | $20,000,000 | $454,166 | SAFE | Funded | RegCF |
| VirZOOM | 04/14/2019 | Wefunder | $8,000,000 | $288,525 | SAFE | Funded | RegCF |
| VirZOOM | 05/31/2017 | Netcapital | $8,000,000 | $548,968 | Equity - Common | Funded | RegCF |
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