VirZOOM

VirZOOM

Growth Stage

The future of fitness, in partnership with Facebook!

Overview

Raised this Round: Raised: $1,476,203

Total Commitments ($USD)

Platform

Wefunder

Start Date

09/21/2021

Close Date

07/07/2022

Min. Goal
$100,000
Max. Goal
$4,497,094
Min. Investment

$500

Security Type

Equity - Preferred

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.49

Early Bird Valuation

$24,274,839

Pre-Money Valuation

$30,499,157

Year Founded

2015

Industry

Fitness & Wellness

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

High

Capital Intensity

High

Location

Cambridge, Massachusetts

Business Type

Growth

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: 09/21/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
VirZOOM 12/30/2024 Dealmaker Securities $61,360,000 $101,075 Equity - Preferred Active RegCF
VirZOOM 07/05/2023 StartEngine $45,758,966 $192,665 Equity - Preferred Funded RegCF
VirZOOM 07/06/2022 Wefunder $30,499,157 $1,476,203 Equity - Preferred Funded RegCF
VirZOOM 11/21/2020 Wefunder $20,000,000 $454,166 SAFE Funded RegCF
VirZOOM 04/13/2019 Wefunder $8,000,000 $288,525 SAFE Funded RegCF
VirZOOM 05/30/2017 Netcapital $8,000,000 $548,968 Equity - Common Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Founder Profile

VirZOOM Founder Eric Janszen on the Future of Fitness

Regular exercise may be beneficial, but it can also require motivation. Most Americans have just about an hour and a half of free time a day. After a long day at work, the prospect of lifting weights or taking a jog can easily feel like a chore. 

By combining virtual reality (VR) and miles of Google Street View scenery, VirZOOM makes at-home workouts something to look forward to. Oculus Quest users only need to download the VZfit app  and hop onto any stationary cycling machine, and they can speed across the virtual world alone or with friends. We reached out to co-founder and CEO Eric Janszen to hear more about the origins of the company and its goals for the future.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview

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VirZOOM on Wefunder 2021
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $30,499,157
Price per Share: $0.49

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Follow VirZOOM on Wefunder 2021

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