VirZOOM
The future of fitness, in partnership with Facebook!
Analytics
Raised: $369,526
Aggregate Commitments $
Platform
Wefunder
Start Date
09/22/2021
Close Date
01/28/2022
Min. Goal
$100,000
Max. Goal
$4,497,094
Min. Investment
$500
Security Type
Equity - Preferred
Funding Type
RegCF
Series
Series A
Pre-Money Valuation
$30,499,157
Rolling Commitments $
Status
Active
Reporting Date
12/05/2021
Days Remaining
54
% of Min. Goal
370%
% of Max. Goal
8%
Likelihood of Max
Avg. Daily Raise
$4,994
Momentum
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Location
Cambridge, Massachusetts
Industry
Fitness & Wellness
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
High
Capital Intensity
High
VirZOOM, with a valuation of $30.5 million, 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. The active members of VirZOOM grew five times, and accounts grew six times after the Oculus Quest store launch in the second quarter of 2021. Eric Janszen and Eric Malafeew founded VirZOOM in 2015. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $4,497,094. The campaign proceeds will be used for customer acquisition, hiring new staff, advertising and promotion, and rent and facilities.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$372,537 |
$202,250 |
|
COGS |
$102,739 |
$161,459 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,706,244 |
$-2,844,277 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$150,122 |
$49,586 |
|
Accounts Receivable |
$8,977 |
$20,574 |
|
Total Assets |
$211,553 |
$166,894 |
|
Short-Term Debt |
$2,458,507 |
$1,663,095 |
|
Long-Term Debt |
$1,123,188 |
$281,745 |
|
Total Liabilities |
$3,581,695 |
$1,944,840 |
Financials as of: 09/22/2021
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| VirZOOM | 01/28/2022 | Wefunder | $30,499,157 | $369,526 | Equity - Preferred | Active | 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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