PayPal co-founder Max Levchin serves as an advisor to Zwift
“Max Levchin is an advisor of us. I've got five incredible advisors, and they all bring different things to the table.”
Zwift's primary strategic objective is reaching one million paying subscribers
“So for us, it's a race to acquire a millionth customer.
It's a race to get to a millionth subscriber.”
Zwift rejects freemium, offering a strict 20-kilometer free monthly trial instead
“We don't have any free users. What we have is a trial. Okay. And today what you get is a little taste of Zwift every month. So you get to ride 20 kilometers, or about 18, 12 miles a month, so everyone can dip in. We don't have any year-long contracts at the mo…”
Zwift acquired 100,000 new users in just four winter months
“Between November and now it's now March, 2017, you've signed up another about a 100,000 people”
Zwift users logged 202,000 hours spectating other people's virtual rides
“Another interesting metric is 202,000 hours of what we call fan viewing. People logging in just to watch other people.”
Zwift users have logged over 5 million hours of virtual pedaling
“Over, over the course of so far, we've had over five million rides. Okay. And over five million hours of pedaling. The average ride is one hour”
Zwift has had over 300,000 user accounts created to date
“We've had some simple basic information that would include about over 300,000 accounts created.”
Investors in Eric Min's previous enterprise platform received an 8x return
“Right. In order to return eight times it was investors received eight times that money.”
Eric Min's previous enterprise software company secured a $100 million contract
“So we were sitting on what amounted to a hundred million dollar contract.”
Eric Min and his co-founder self-funded Zwift with millions
“My, let's see, we seeded the business for, I, you know, my partner and I, we had an open checkbook, but committed a couple million dollars to build this.”
Zwift calculates in-game propulsion using weight, terrain, and drafting
“Based on your weight, how fast you're pedaling, and a couple of other factors, we propel you in the game. So your weight matters. The kind of equipment that you have in the game actually matters. The terrain that you're riding on in the game matters. All of th…”