Going from strength to strength after a breakout year in 2016, and piggybacking on its popularity among customers who swear by (not at) their beloved elliptical bicycles, ElliptiGO takes an indie approach for its growth and has started soliciting investment from its community of rabid fans.
ElliptiGO makes outdoor elliptical bicycles and was founded by Ironman triathletes, Bryan Pate and Brent Teal, who loved running and wanted a wonder machine that gave people the benefits of running without the impact and problems that go with it.
As is common in these cases where founders scratch their own itch, there was hardly any such device in the market so they decided to take matters into their own hands and test every concept and prototype they could muster. After more than 5 years, ElliptiGO was born in 2010 and has only grown from there, beloved by users and growing to a company employing dozens-strong staff generating more than $30 million in revenue since its founding and over 20,000 of its bikes running all over the planet.
Recreational users use it for its fun and health benefits as well as staying in shape; while athletes (including Olympic athletes) use it for training and to improve performance.
Essentially, because people who know the company or who have used their product are stalwart supporters who love it, all it really takes is to get more people to test and try them out. They’re very likely to become converts too.
It is in this regard that the company seeks to get funding and use it to fund marketing as well as inventory, as the product moves beyond its category and into becoming part of a larger sports and fitness category, by which time its growth will only get steeper.
There’s plenty of upside in the company, and an opportunity in investing in it from what is effectively still its ground floor is rare. Something a lover or user of the company’s products should look into, and even if not, as an investor seeking a good place to put your money, you will hardly find a company with such a product line beloved by users.
You can find more information and buy stock in the company here.