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Wearables company Whoop has raised more than $200 million in funding to date.
The interesting thing?
Initially, they charged $500 per wearable.
Today, you can get it for free.
Here's the story
(Thread)
The interesting thing?
Initially, they charged $500 per wearable.
Today, you can get it for free.
Here's the story
(Thread)
@whoop makes a sensor-equipped strap that tracks your activities 24/7 — i.e., movement, sleep, and workouts.
Their differentiation?
· They provide a multitude of performance metrics and other data based on activity.
· It’s like having a coach who takes care of you, personally.
Their differentiation?
· They provide a multitude of performance metrics and other data based on activity.
· It’s like having a coach who takes care of you, personally.
Whoop’s nylon band monitors your heart rate and other key metrics to assess your body.
The technology uses LEDs and photoplethysmography to get those measurements.
If you want to understand how the technology works, check out this video:
The technology uses LEDs and photoplethysmography to get those measurements.
If you want to understand how the technology works, check out this video:
Some compare Whoop to an Apple Watch or Fitbit, although they are very different in the design because a Whoop strap has no screen:
Through the Whoop app, you get all the insights around:
· Sleep: quantity and quality;
· Recovery: based on your heart rate — signaling that you need more rest or need to back off on training intensely;
· Strain: how much energy you exert in a day.
· Sleep: quantity and quality;
· Recovery: based on your heart rate — signaling that you need more rest or need to back off on training intensely;
· Strain: how much energy you exert in a day.
How Whoop Makes Money?
Initially, they charged 500 USD per wearable. However, they dropped the price of its wearable down to free.
Why?
Because they pivoted their business model to a subscription service.
Initially, they charged 500 USD per wearable. However, they dropped the price of its wearable down to free.
Why?
Because they pivoted their business model to a subscription service.
Users sign up for a monthly subscription starting at $30 (and decreasing) — depending on what you would like to measure and use the data for:
· 6 months of data for $30/month;
· 12 months for $24/month;
· 18 months for $18/month).
· 6 months of data for $30/month;
· 12 months for $24/month;
· 18 months for $18/month).
Why pivot?
1. To enable accessibility to most budgets — most people can pay 30 USD monthly, instead of putting down 500 USD in one shot.
2. Subscription-only models push people to wear the device for an extended time and provides accurate revenue streams for the company.
1. To enable accessibility to most budgets — most people can pay 30 USD monthly, instead of putting down 500 USD in one shot.
2. Subscription-only models push people to wear the device for an extended time and provides accurate revenue streams for the company.
Whoop is one of the few disrupting the consumer wearable market.
A key and exciting factor I’d be interested in following is analytics.
The amount of data they collect and put together to understand better human bodies could significantly improve our lives in the future.
A key and exciting factor I’d be interested in following is analytics.
The amount of data they collect and put together to understand better human bodies could significantly improve our lives in the future.
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