Unicorner - 🦄 Cadoo: Earn money through fitness

• Raised $1.5 million seed round from investors like Apollo VC (Sam & Max Altman) and Dorm Room Fund
• Over 7,000 users registered with a challenge completion rate of 90%
• Has integrations for a number of third-party services, such as Strava, Fitbit, and Apple Health

 

• Ambassador Program

Fitness is among the hardest habits to build because it’s difficult to stay consistent. We lose motivation when we lose sight of the long-term goals we aim to achieve. By introducing a financial incentive to fitness, Cadoo gives people interested in fitness an additional short-term reason to stay motivated. Cadoo isn’t the first app to reward physical activity (for example, apps like SweatCoin reward walking), but Cadoo is one of the first to add a “betting” aspect to it. Its hypothesis is that when your money is on the line, you’re more likely to stay motivated—and its recent growth seems to support that. Online games with monetary rewards can often be tricked to cash out (remember HQ Trivia and those answer bots?), but Cadoo addresses this through integrations with existing health apps like Fitbit and Strava to mitigate these concerns and keep fitness records honest. If it can do this, combined with an already demonstrated interest in the product, we may soon see a new method for accountability in fitness. What other industries might benefit from this model? Let us know in a reply to this email!