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WHOOP

Invest in WHOOP

Fitness Wearables

Founded: 2012

Headquarters: Boston, Massachusetts

whoop.com

Status

Available

Last Round Valuation

$50 Billion

Share Price

$50.00

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About
Summary
Valuation

About WHOOP

Whoop makes a fitness tracker that is popular with professional athletes. Whoop describes itself as a personal digital fitness and health coach and monitors sleep, strain and recovery.

Key Facts

WHOOP is a personalized 24/7 digital fitness and health coach that helps people unlock their inner potential and make meaningful lifestyle changes via actionable feedback on sleep, recovery, and strain.

WHOOP sells a subscription health coaching app that uses data from a wrist strap to recommend changes to a user’s sleep and exercise habits.

The WHOOP membership comes with free hardware, a coaching platform designed to optimize your behavior, and a community of high performers. WHOOP insights are grounded in industry-leading accuracy across measurements of key health indicators like heart rate variability, resting heart rate, respiratory rate, and sleep staging.

WHOOP’s business model is based on a subscription service. Users sign up for a monthly subscription starting at $30 per month, and the wearable devices are included for free. 12 and 18 month memberships are available for $24 and $18 per month, respectively.

WHOOP 4.0, its latest wearable hardware, is comfortable enough to wear non-stop thanks to new, durable SuperKnit bands, but flexibly designed to be worn off your wrist in new WHOOP body apparel. 5 LEDs and 4 photodiodes capture your data more often than most wearables, providing best-in-class accuracy validated in lab studies and with third-party testing. Engineered with a 4-5 day battery life, users can wirelessly charge their WHOOP with a waterproof battery pack and capture data continuously—even while in the shower or washing dishes.

WHOOP provides a staggering amount of data about recovery, performance, and the impact of outside influences. Studies show WHOOP can positively change behavior, increase sleep, and improve physiological biomarkers. WHOOP’s 2021 year-end review further showcased this by proving how alcohol, sex, work, and other outside factors have a direct effect on recovery and performance.

Consumers are buying more connected monitoring devices, spurred by the COVID-19 pandemic, and it's a trend that's expected to ramp up even more in future years.

WHOOP has partnerships with the PGA Tour, LPGA Tour, CrossFit, the U.S. Army, Tory Burch, and the NFLPA and is approved for in-game use by Major League Baseball and the Women’s Tennis Association. WHOOP aims to play larger role in professional sports and extend its WHOOP Live data to a greater audience, taking fan and athlete engagement to a new level through biometric data visualization.

The enterprise opportunity has become a meaningful business for WHOOP, which is working with a number of businesses that want to be able to help large audiences and teams better understand their bodies and health. WHOOP provides bespoke wearable solutions for sports teams, professional athletes, healthcare firms, businesses, and the government/defense.

WHOOP recently launched AnyWear technology that allows users to place their wearable device on the torso, waist or calf using a strap. Subscribers also have the option to insert the device into the company’s WHOOP Body apparel range, which stocks boxers, shorts, sports bras, leggings and compression tops.

WHOOP is eying international expansion beyond the U.S. and using the massive influx of cash on R&D for its hardware, software and analytics solutions.

WHOOP has more than 500 employees with over 225 new hires in the past 12 months. In 2022, WHOOP will open offices around the world, including a new global headquarters in Boston, Massachusetts, which will house more than 1,000 team members on site.

WHOOP cites “rapid growth” in its membership offering over the past year as a motivation behind seeking additional funding—driven by the decision in 2019 to make the $500 wearable free, while focusing on a subscription service.

In September 2021, WHOOP acquired Push, a provider of velocity-based sensor technology for weightlifting, confirming that its laser-focused on enhancing its health-tracking algorithms.

WHOOP recently launched a new sleep coach, which allows WHOOP 4.0 to vibrate and wake users up at the appropriate time in the morning. Whoop also released a new health monitoring feature, which allows WHOOP 4.0 to alert users if certain physiological information is out of its baseline.

WHOOP recently launched WHOOP Pro, which gives annual WHOOP members exclusive access to new releases, free accessories and more for $12 per month.

In June 2020, PGA Tour golfer Nick Watney said it was his wearable fitness tracker that first alerted him that he may have coronavirus. Watney noticed his respiratory rate had spiked from WHOOP’s app—leading him to get tested and discover he was positive. Following the diagnosis, the PGA Tour signed a deal with WHOOP to make their product available to all golfers and caddies on the Tour who wanted one.

In January 2023, Whoop and Hyperice, a global high-performance wellness brand, today announced an innovative partnership, unveiling a first-of-its-kind data integration to help users better understand the connection between recovery and how it impacts overall health. Through a two-way integration by way of Apple Health, WHOOP members will be able to automatically log recovery activities in their WHOOP app when utilizing the line of Hypervolt percussion massage devices, and Normatec dynamic air compression systems. The integration is the first of multiple joint initiatives between the brands that aim to further understand the impact of percussion massage and dynamic air compression on physical recovery while advancing human performance through quantitative data.

In March 2023, Whoop was named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023.

In March 2023, Whoop announced the addition of its Stress Monitor feature and breathwork protocols, created in partnership with Dr. Andrew Huberman, esteemed professor of neurobiology and ophthalmology, host of the top-ranked Health & Fitness podcast Huberman Lab, and member of the company’s Scientific Advisory Council. “Stress Monitor is one of the most innovative features we’ve ever released,” said Will Ahmed, Founder and CEO of WHOOP. “Our WHOOP members are inherently motivated and ambitious. Stress is a normal part of their lives. This tool will help members understand and manage stress for the first time. In partnership with Dr. Andrew Huberman, we are also launching breathwork interventions to either decrease stress or increase alertness.”

In April 2023, Whoop announced the launch of Strength Trainer, a new feature that allows members to measure strength training exercises and quantify the physiological impact of muscular load. With this launch, WHOOP 4.0 becomes the first and only wearable to measure how strength training impacts the body. This all-new feature tracks exercises, reps, and weight usage to quantify muscular load, using the accelerometer and gyroscope sensors to calculate the strain that’s put on the musculoskeletal system. That muscular load is now factored into the WHOOP Strain score to provide a more comprehensive and advanced view of the demands placed on the body.

In September 2023, Whoop announced the launch of WHOOP Coach – an advanced generative AI feature – that promises to revolutionize the wearables market. WHOOP Coach takes an in-depth knowledge of a WHOOP member’s goals, their unique biometric data, and the latest performance science and generates highly individualized, conversational responses to their health and fitness questions – all within seconds. WHOOP has long leveraged the power of machine learning to help members better synthesize and understand their data. Now with GPT-4, OpenAI’s most advanced generative AI system, WHOOP Coach is a revolutionary step forward in offering the most personalized on-demand health & fitness coaching available on the market today.

In December 2023, Whoop acquired AnyQuestion, a Boston-based startup that developed a comprehensive platform to create, organize, and share knowledge-based content, powered by AI.

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Summary

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Customers

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Key Investors

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Size of Market

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Market Position

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Industry

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Primary Vertical

Fitness Wearables

Employees

500

Mosaic Score

840

Money

760

Momentum

850

Management

760

Market

960

What is a Mosaic Score?

Key Officers

Name Work History Title Status
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current

Valuation

Valuation Over Time

chart

Last Round

Sept. 2019, Series B1

Valuation Post-Money

$400.2M

Amount Raised

$2.5M

Total Funds Raised

$75.2M

Implied Valuation

$84M

Funding Rounds

Date Round Amount Valuation Investors
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here

Competitive Landscape

Company Valued Revenue
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$2.8B $1.3B
Coinbase
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$2.8B $1.3B

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