SaaS Interviews with CEOs, Startups, Founders
659: He's Winning In Home Fitness Wars: $3+ Million Monthly Revenue, $45 Million Raised
14 May 2017
Chapter 1: What is the main topic discussed in this episode?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base.
Chapter 2: What is Zwift and how does it create a virtual cycling community?
You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per talk.
Chapter 3: What is Zwift's business model and pricing structure?
Five and six million. He is hell-bent on global domination.
Chapter 4: How did Eric Min and his co-founder fund the launch of Zwift?
We just broke our 100,000-unit soul mark.
Chapter 5: What challenges did Eric face while transitioning from a trading platform to Zwift?
And I'm your host, Nathan Latka.
i just finished traveling southeast asia for 41 days and i usually always get sick when i travel and quite frankly eating is difficult for me it's hard to find a restaurant and i'm spoiled in austin with my personal chef well i took these little packets with me this time 30 of them in my carry-on suitcase they kept me totally healthy with 11 different secret ingredients you can see them at nathanlaca.com forward slash juice i'll tell you more later on in the show that's nathanlaca.com forward slash juice
Folks, many of you reach out to me and you say, Nathan, so many guests on your show talk about the importance of batching. But whenever I try and batch, you tell me this. You go, Nathan, they don't book back-to-back times. Or they don't show up after they book. It's frustrating. The answer is, guys, you have to use smart tools.
Chapter 6: How does Zwift engage users and maintain high retention rates?
I use a tool called Acuity Scheduling at NathanLatke.com forward slash schedule. I'll tell you specifically how I use it later on in the episode.
Chapter 7: What strategies does Zwift use for user acquisition?
This is episode 659. Coming up tomorrow morning, I talk to somebody who might be the first trillionaire.
Chapter 8: What is the concept behind Zwift Academy and its impact?
And the person that's going to decide this are farmers. Why? Drones and machine learning are directly connected to value for farmers who can use this data to save money. So the question is simple. Will farmers decide the first drone company trillionaire? Tune in tomorrow morning to find out. Good morning, everybody. Nathan Latka here. Our guest today is Eric Min.
He is the CEO and founder of a company called Zwift.com. We'll talk all about it. Eric's a tech entrepreneur, a lifelong cyclist, and is now spreading fitness through virtualization and gamification. All right, Eric, are you ready to take us to the top?
Yes, yes.
Very good. So kick us off here. Tell us what Zwift does and what's your revenue model? How do you generate money?
So Zwift is simply creating a virtual space where cyclists can interact with each other in real time. We're trying to recreate all the social aspects of cycling that so many of us really enjoy. It's a personal problem that I try to solve.
You know, coming from New York and living in London, all of my network being in New York City, I thought, you know, could I recreate some of the social network that I had before in a way that just wasn't available? And, you know, could we do that through a gaming platform and create a social network where the interaction is real and physical?
Yeah.
And are you selling, so guys, I encourage you to check out the website, Zwift.com. But I mean, the reason, Eric, I look at an idea like this and I go, this is exciting, is because for whatever reason, when I work out, if there's people watching or I'm competing with someone that I can beat, I just work out harder. It's something psychologically in my brain. I don't know why.
So I love that I can be by myself here, use Zwift to maybe compete against other people. My question to you is though, are you actually selling this whole bike as a piece of hardware or is it just an add-on?
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