VirZOOM Inc.

VirZOOM's 2nd KF Co-op! - Play VR Get Fit

Cambridge, MA

http://www.VirZOOM.com

Total Raised
$67,441.50
Total Payout
$71,960.08
Instructions

Inventory Visibility Type

15.78% Annualized $1.0670 for every $1.00

5.2 MonthsCo-Op Completed

24% PercentileAnnualized Co-Op Profit Margin Rank

PLEASE BE ADVISED - Read the following statement from Kickfurther before purchasing packs from this co-op.

This co-op is among the first launched under Kickfurther's newest co-op type, "Inventory Visibility" or "IV".  Co-ops of the IV Type are not backed by assigned wholesale purchase orders. Instead Kickfurther forms a relationship with the warehouse provider and tracks inventory levels relying on third party inventory verification. 

Read more about the release of Inventory Visibility here.

Payouts made during this co-op will not come in one lump sum to Kickfurther from the brands client directly at the end. Instead Kickfurther will monitor inventory levels and invoice against inventory that is shipped from the fulfillment center on a bi-weekly basis beginning when the Inventory funded is available or the Inventory Available date which ever is sooner.  Incremental payouts during the lifetime of the co-op may be withdrawn or used to purchase from other co-ops.

Kickfurther inventory is subject to "First In, First Out" meaning that once the Kickfurther inventory arrives or the Inventory Available date is reached, all sales of the funded item type are invoiced against regardless of whether the specific unit shipped was funded by Kickfurther or the business.

For more information on how invoices are generated see this post.

Additional Update

The Completion date has been updated to include a 10 day hold period after the final payment is due by the brand. See below for the contractual Payout dates.

                           ---------------------- End of Kickfurther Statement -----------------------

“This is a fantastic product. I am not the type of person who would look forward to riding an exercise bike or going to a gym. I know that I should, but don't. But, this is really different. This is FUN.” - Amazon Product Review


Hello KF Buyers,

We are happy to be back as Virzoom. We've previously completed a co-op payout for $82,149.17 and we are back for another order for q4 of this year. Virzoom has acted in accordance with our contract in the past and we will continue to do so under Kickfurther's new requirements including, but not limited to:

  • Our co-op will be a combination of our Supplier will be paid by Kickfurther Directly and reimbursement we receive for payments they confirm we have made. 

  • We have signed a power of attorney with regard to our Warehouse and Fulfilment provider.

  • Our Provider will sign an authorization acknowledging this Power of Attorney prior to the release of our funds.

  • Kickfurther will have visilbility to third party verified reports to track inventory that leaves our proivder and bill us accordingly. 

  • An owner has personally guaranteed the co-op inventory

This co-op is slightly smaller than our first co-op which was completed responsibly. For this order we will be financing the Virzoom Controller our signature product, described in detail in the product section. The co-op will cover 50 units currently on hand with our 3PL and a portion of our current manufacturing run. This means sales and invoicing will begin immediately following the start of the co-op. The manufacturing run is already in production and will arrive and be available for sale in October. We have projected 3 months sales period to be conservative, but we believe it could be shorter. 

Q4 is an exciting time for us and virtual reality is an amazing space to be in. We have provided Kickfurther the necessary access, we have reviewed the process, and we will pay our invoices responsibly. 


VirZOOM creates engaging VR experiences powered by you. Pedal your VirZOOM Controller to propel yourself through endlessly exciting VR games. Power a horse in a race, a tank in battle, a flying pegasus through the forests. Patent pending software controls keep you feeling good. A workout without the work.

In early 2014,  VirZOOM co-founders Eric Janszen and Eric Malafeew set out to get the sedentary consumer moving with a new concept: virtual reality exercise games. They committed themselves to creating a fun way to exercise using virtual reality to get millions of under-exercised consumers on the road to health and fitness. The result is an entirely new kind of game and exercise called virtual sports (vSports). 

vSports is real physical competition in virtual worlds based on VirZOOM's inexpensive and versatile patent pending virtual reality exercise game platform. With partners Fitbit, Life Fitness, HTC, and AMD only VirZOOM can bring exciting physical and immersive online virtual game competition to millions of consumers all over the world. Players of all ages engage in thrilling competitive virtual challenges to consumers including cycling, F1 racing, and tank battles all powered by the player. Players can engage in real time online challenges or engage at a later time for high score. VirZOOM statistics show customers do not get bored with vSports the way they do with other indoor equipment-based exercise. The play VirZOOM vSports for longer periods more frequently over time.

VirZOOM employs an exciting new technology, virtual reality, to solve an old and very large customer problem: motivating sedentary people of all ages to exercise.

In order to ensure our multiple resellers have adequate inventory on hand to meet demand, we are increasing our production levels and came to the Kickfurther community for support. We are excited to bring the Kickfurther community into our future of Gaming & Fitness!

Check out our press (most recent first):

BostInno • EpicStuff • Nerd Reactor • Brit + Co • International Business Times • Circa • TechAdvisor • Boston Magazine • Hong Kong Tatler • Tech China • Hide It Mounts • VR Scout • Boston Globe • Techspot • VR Focus • Pure Fitness • CNET • VR Fitness Insider • Mashable • DashieGames • Gadget Gram • VR FocusCNBCVR FocusUpload VR • Forbes ContributorFast Company WearableWell and Good • The Escapist • VR Fitness Insider • Chipchick • Digital Trends • Engadget • TechCrunch (and feel free to search for earlier stuff too...)

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