We're a team of 2 experienced entrepreneurs (heavily involved in the London startup scene and experienced an exit each) looking for a CTO to join the founding team (33/33/33 equity). Elliott (CEO) has 10 years dev experience but we need a dedicated CTO to handle a project of this size. The technologies involved already include web, mobile, smart TVs, IoT and media streaming. In the future this may also expand to augmented reality. We're at the forefront of numerous technologies and there's unlimited potential to learn and experiment. The aim is to be venture-backed, experience hyper growth and exit.
What are you building?
https://www.sweatflex.com/ (Visit to watch promo video)
Flex delivers live video HIIT classes to be taken at home. Participants all tune in wearing Bluetooth heart rate monitors resulting in a real-time "score" leaderboard visible throughout. Available on smart TV boxes and native mobile apps with full casting support, it's as easy to view on your large television screen as Netflix. Instructors call out viewers by name throughout. This is backed by a digital community with competitions, rewards, challenges and sharing and supporting of personal journeys.
Current tech stack: https://drive.google.com/file/d/0B_c29ZFEh4nJVzlEaVJyNnlHOFk/view
Why is this going to work?
Peloton (https://www.pelotoncycle.com/) pioneered the live workout with leaderboard concept with at-home spin bikes. They are 5 years old (product to market for 4 years), have raised a total of ~$500m and were valued at $1.2bn in May 2017. With current annual revenues in excess of $200m, they anticipate hitting a $10bn valuation in the next 2 years. They are one of New York's fastest growing companies, yet haven't come close to saturating the US market and haven't even expanded outside of the US yet.
What Peloton have done for spin, we're looking to do for bodyweight exercise. All of our research and user feedback and engagement has aligned with Peloton's validation that there is a market for this and it could be a similar sized opportunity.
What have you done so far?
We spent a year of building, iterating, talking to our thousands of members, examining their behaviours and learning before settling on the current business model. The new direction explained above is 3 months old and in that time we have:
- Built the MVP
- Amassed a new waiting list of 3,000+ people
- Run private beta trails with a highly engaged membership base
- Closed a deal with Unilever to advertise Flex to 400,000 subscribers
- Closed a deal with AXA Insurance to reduce premiums using our data
- Raised £75k external funding
- Graduated from Y Combinator's first ever Startup School cohort
- Partnered with 3 accelerators/incubators including Europe's first sport/fitness programme backed by the Mayor of London and Sport England
Who are you both?
Elliott (CEO) - Founded EventSneaker (acquired ‘15) · Previously Sage · 10 years software engineering/product experience · BA Business Computing · LinkedIn: https://www.linkedin.com/in/elliottjperry/
Matt (COO) - Founded Sauce (acquired ‘16) · Previously Techstars & PwC · 6 years growth/ops experience · Chartered accountant · LinkedIn: https://www.linkedin.com/in/matthewthomasquinn/
With the good fortune of a prior exit each we've raised private funding, hired and managed distributed teams, put together boards of advisors, designed and executed technology strategies, leveraged global partnerships, navigated complex legal work and negotiated and closed acquisitions – the whole startup lifecycle with experience at every stage.
Where do I come in?
As the CTO you'll be responsible for deciding what tech to use, building the tech and growing the tech team. You'll work alongside Elliott (CEO) who, as a software engineer himself, has a deep understanding of technology. (There's no dealing with frustrating tech-unaware CEO's in this role.)
As a full founding member you will join us as an equal and have a hand in every decision made on the journey. This company will be just as much yours as it is ours.
We're naive enough to believe this could be something huge and dedicated enough to pour every ounce of our being into making it a reality. We're looking for someone like-minded to join us on this journey. If you’re interested in exploring the opportunity of working together, let’s grab a beer...
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