We are very excited about opening MySwimPro for public investment. This means you can invest in MySwimPro and own a slice of the company to benefit from our rapid growth. This is our second Open Public Offering in the company’s history. Help us reach our goal of raising $500,000 before April 3, 2019!
Investments start at $500 USD. INVEST HERE >
- Raised: $435,000
- Current Investors: 170 Investors in 20 Countries
- Repeat Investors: 35+
- Invest $5,000 Perk: get ELITE Subscription for life!
- Minimum Investment: $500 USD
- Close Date: April 3, 2019
- Link: https://wefunder.com/myswimpro
In 2017 we raised over $130k in a pre-seed round from 137 investors around the world. Today we are seeking capital to scale our existing product offering and launch a new app for triathlon!
Related: 10 Reasons To Invest In MySwimPro
February 6, 2019 Martin Dober of Invest Detroit Ventures on “Why You Should Invest In MySwimPro” – Detroit, Michigan
“What we saw with MySwimPro is a great team that’s very capital efficient. We’re impressed with the consistent user growth and the potential to enter new markets.”
Stewart Nelson, New Enterprise Forum
“What happens when you combine a ‘first class’ team with a terrific business model….MySwimPro!” I have been most impressed with Fares and his team and how they continue to successfully scale their business and execute on their plan while regularly communicating with their investors. It is obvious that they love what they are doing. I have 100% confidence that they will continue to hit their milestones.“
Steven Sysko, Faculty at Goldman Sachs
February 26, 2019 3X Olympic Swimmer Peter Vanderkaay on “Why I Invested In MySwimPro” – Detroit, Michigan
David Smith, Angel Investor
Isaac Gilman, Dean of University Libraries at Pacific University Oregon
“You are a bright person with a HUGE passion for your product and purpose – this passion seemed to only increase since your first round of investment. This passion is the biggest reason I feel confident in your team and product. I also believe you developed a product that found a great segment that is still new and has tons of growth. With more and more wearable technology coming out, I believe you have a huge opportunity ahead in the swimming and triathlon industry that only a few other companies have tapped into so far.”
Matt Kneiser, Senior Software Engineer at Qualcomm
“MySwimPro continues to digitize the swimming community and has only begun to improve the lives of so many.”
March 20, 2019, A^2 New Tech Meet Up – University of Michigan Law School, Ann Arbor, Michigan
March 19 2019, Investing In The Rise of The App Podcast – KingsCrowd
March 18 2019, Michigan Tech News Podcast – Invest Detroit VC
— Fares Ksebati (@FaresKsebati) March 18, 2019
March 12 2019, Big Digital Thinkers Podcast
— Fares Ksebati (@FaresKsebati) March 12, 2019
February 26, 2019 “MySwimPro Streamlines Past Initial Target Goal on Wefunder Long Course” – Crowdfund Insider
“Less than one week into its Wefunder SAFE Future Equity crowdfunding campaign, Wefunder vet MySwimPro has freestyled past $250K from 70+ investors toward its $1,000,000 maximum target. In 2017 MySwimPro raised $280,629 from 164+ investors. This new round of funding will enable MySwimPro to invest in growing the business by further developing its products, team and customer acquisition strategy.”
August 28, 2017 MYSWIMPRO APPLE APP OF THE YEAR CROSSES 100K GOAL, 48 HOURS TO INVEST – Swim Swam
“Named by Apple as the Best Apple Watch App of 2016, MySwimPro has quickly established themselves to be the top fitness and training application used by swimmers around the world.”
In addition to an ownership stake in the company, investors are granted perks at the different investment levels below:
- $500 USD – Our minimum investment level starts at $500 USD. At this level you will officially become an investor in the business and play a part in helping millions of people around the world lead happier and healthier lives.
- $1,000 USD – Investors will receive a MySwimPro Branded Apparel Kit that includes an Under Armour Athletic 1/4 Zip Pull-Over, an official MySwimPro T-Shirt, and an MSP Silicon Swim Cap.
- $2,500 USD – Investors will receive all lower investment level perks in addition to the Official MySwimPro Triathlon Racing Kit that includes a Triathlon Jersey, MySwimPro Towel, and an Open Water Swim Buoy.
- $5,000 USD – Investors will receive all lower investment level perks in addition to lifetime access to the MySwimPro ELITE membership, along with complimentary future app software memberships.
- $25,000 USD – Investors will make a huge impact in helping people lead happier and healthier lives through swimming. You will receive all lower investment level perks in addition to Pro-Rata Investment rights. Pro-rata investment rights give an investor the right to participate in a subsequent round of funding to maintain their level of percentage ownership.
You can learn more here.
In 2012, Thomson Reuters launched the Thomson Reuters Venture Capital Research Index which seeks to replicate the performance of the venture capital industry. The index shows that venture capital has returned 19.7% per year since 1996 versus just 7.5% and 5.9% respectively for public equities and bonds.
In 2012, Professor Robert Wiltbank released findings from the largest data set on individual angel investments that has ever been collected and found that U.S. angel investors returned 2.6x their money on average. If we assume that the average time to exit an angel investment is five years, 2.6x equates to 21.1% annualized returns which is slightly higher than overall venture returns. Also, there are few asset classes that offer the homerun potential of venture investments.
What is My Potential Return?
This Open Public Offering allows you to invest for future equity in the company via a SAFE. A SAFE (Simple Agreement For Future Equity) is used most frequently in the pre-seed and seed level companies where it doesn’t make sense to place a valuation on the company at this point in time. It essentially delays valuing the company until the next round of financing where it will have more traction to base that off of. It’s not a loan and does not accrue interest. However, like convertible debt, your investment would convert into equity upon a qualified financing.
- In order to trigger conversion of an investor’s shares, we need to raise an equity-financing of $1M or more to be a qualifying round. As an investor, you would then be awarded preferred shares on the terms set by this future round (in the constrains of our $10 Million Valuation Cap).
- For Example: If you invest $10K in this crowdfunding round, and if in 2 years we raise $2M at a $20M Valuation, your investment would convert into preferred shares at the $10M valuation cap that we have set at this round. The new investors would be investing at a $20M Valuation. These new investors will also have the right to buy you out (this does not apply to “Major Investors” – $25k or more).
- Only “Major Investors” have the right to make follow on investments in future rounds of financing.
- Additionally, I (as the CEO) will have proxy to voting power for all non-Major Investors ($25k or less). This is done to manage potentially having 500 people on the Cap Table.
- To continue this example, let’s say we’re acquired for $100M in 5 years from now. You would roughly 7-8x your money accounting for the dilution you would have received from that $2M round of financing and other conversions that would happen from prior financing.
- Summarizing, your $10k investment would be worth $70-80k at a $100M liquidity event. Also keep in mind the capital gains taxes that would be owed on this increase in share value.
- A 5-10x return would be an amazing outcome. A par outcome would entail a liquidity event where you would return your money back or some portion of it. This is higher risk than public investing, so losing all your money is a real possibility as well.
Again, I recommend that you review the Form C, particularly the risk factors. This information is all viewable on our Wefunder campaign page at wefunder.com/myswimpro.
Q: What is the difference between this form of equity crowdfunding and traditional crowdfunding?
– Crowdfunding is a method of raising capital through the collective effort of friends, family, customers. Unlike traditional crowdfunding, with equity crowdfunding you are not buying a product or donating. Instead, you are investing in the business.
Q: What is Wefunder and why is MySwimPro using this platform to raise money?
– Wefunder is like ‘kickstarter for investing’. You are investing in the company with the hope of seeing a financial return. With Wefunder, MySwimPro successfully raised $130k from 137 Investors in 2017, and we’re using the same platform again.
Q: What happens to my money after I invest it?
– All funds raised will be invested directly in the business. See ‘Use of Funds’ slide (14). Specifically, investment will support hiring additional team members and investing in the business’s customer acquisition strategy.
Q: When will I see a return on my investment?
– A return on investment will only occur from a liquidity event (like an acquisition) or an Initial Public Offering. A liquidity event (exit) more likely and in a best-case scenario an investor could see a return similar to the companies on the ‘Industry Acquisitions’ slide (Appendix 1).
Q: Can I withdraw my investment out of the company at anytime?
– It’s safest to assume you cannot resell your investment to another investor. First, there is not yet a liquid secondary market like the New York Stock Exchange for private companies. Regulation Crowdfunding also specifically prohibits the resale of securities for one year, except to the issuer, an accredited investor, a family member, or their trust.
Read: Full Investor Slide Deck
Investing in MySwimPro takes just a few minutes and we accept international investment. You can invest at the link below.