San Francisco, California Apr 11, 2021 (Issuewire.com) – Cadoo has gradually been making a name for itself as the most intense fitness app out there. The app pays you to get fit and takes your money when you don’t reach your goals. It has now given out over $250K in rewards to its players and is growing fast, making a serious mark in the fitness space.
California-based Cadoo has money-based challenges for users to join. Each challenge has a $5-$100 entry amount and a goal to reach, like running 5 miles this weekend. Participants record with fitness tracking devices like Strava, Fitbit, and Garmin to prove they’ve completed the challenge. Winners get back their money AND an evenly distributed cut of the losers’ entry fees. Cadoo’s co-founder and COO, Daniel Avila, sums up the app rather simply: “Get fit. Get paid.”
Colm Hayden, co-founder and CEO, said “Cadoo is a place for people who are serious about their fitness goals. If you join a Cadoo challenge, you better complete it. Your money goes to the challenge winners otherwise.”
Cadoo users have run more than 100,000 miles or 4 times around the world. They have a strong network of passionate users who join every single challenge on the app.
Colm Hayden should be attending college as a junior. He’s joined by Daniel Avila, who’s taking time off of Yale to grow Cadoo.
Tim-Parsa, Cadoo’s third co-founder, says: “Cadoo checks all the key boxes a successful startup should have: a huge potential market of over 300 million users using our current fitness tracking software integrations, a passionate user base built on aligned incentives, and a really impressive yet humble founding team.”
Cadoo is a part of the market-wide explosion of digital sports firms, along with other breakout companies Peloton, Tonal, Mirror, and Zwift. With the pandemic putting an emphasis on both at-home workouts and general health, there’s an ever-increasing fascination with digital measurement of performance in the sector.
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