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Summary (IA Generated)
person“>Zwift, a 350-person, Long Beach, Calif.
Permira and Specialized Bicycle’s venture capital fund, Zone 5 Ventures, also joined the round alongside earlier backers True, Highland Europe, Novator and Causeway Media.
Right now, the company just makes an app, albeit a popular one.
5 million people have signed up to enter a world that, as Outside magazine once described it, is “part social-media platform, part personal trainer, part computer game.
Though a spokesman for the company said it can’t discuss any particulars — “It takes time to develop hardware properly, and COVID has placed increased pressure on production” — it is hoping to bring its first product to market “as soon as possible.
He added that the hardware will make Zwift a “more immersive and seamless experience for users.
Either way, the direction isn’t a surprising one for the company, and we don’t say that merely because Specialized participated in this round as a strategic backer.
Given the runaway success of the in-home fitness company Peloton, it wouldn’t be surprising to see a treadmill follow, or even a different product entirely.
Said the Zwift spokesman, “In the future, it’s possible that we could bring in other disciplines or a more gamified experience.