Misfit preso (1)

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  • Misfit Wearables


  • History- Founded in 2011 by Sonny Vu, John Sculley and Sridhar Iyengar.

    - Before Misfit, Vu and Iyengar were behind IBGStar (the first FDA approved

    medical device for Iphone).

    - Early-day invested by ex-Pepsi president and ex-Apple CEO Sculley.

    - Headquartered in San Francisco. Engineer offices located in China and Vietnam.

  • Products - Shine (launched 2012)- Utilize sensor technology, tracking activity and monitor sleep.

    - Funded through Indiegogo (goals reached within 10 hours, finished ~ $846k).

    - Elegant design, persistent battery life (5-6 months) and waterproof.

  • - Positively received.

    - Partnered with Victorias Secret, Swarovski.

    - Named official tracker for Sochi and World Cup 2014.

    - Fully waterproof.

    - Partnered with Speedo to utilize swimming tracking.

    - Shine 2 will be launched in 2016.

  • Products - Flash (launched 2014)- Similar to Shine, but made from plastic.

    - Half the price.

    - Lower water resistant (30m compared to Shiness 50).

    - Mixed reviews.

  • Financial- Around $63M from 5 funding rounds. (7.6M, 15.2M, 40M from Series A/B/C)

    - Revenue undisclosed, but shipped over 1M devices in Q4 2014.

    - Huge market for growth (70M devices sold total in 2014 - $7B market).

    - Recently acquired by Fossil Groups for $260M.

  • Secret Sauce- Fashion-oriented

    - Doesnt greatly compromise activity tracking.

    - Price.

    - High sustainability, access to cheap HR.

    - We have to get the best talent at the best prices - Sonny.

    - Accessible outside of US market. ( of revenue outside US, mostly China, Russia)- So far, decent marketing strategy.

  • Competitor+ Other tracker: Jawbone, Garmin, Mio

    + Smartwatches: Pebble, Samsung Gear.

    + Young and competitive market.

  • Thoughts+ Sustainable, steadily generate revenue.

    + Good direction, focus on wearables.

    + Depends on its parent companys partnership and marketing.

    - Need to diversify products.

    - Need to enhance UX.

    - Solid competitors.

    - Deal with counterfeit issue

    Will continue to earn its share in the market!