A British start-up that organises sports challenges and is backed by Serena Williams and Usain Bolt has raised $60m in funding to continue its global expansion, it said.
Let’s Do This was founded in 2016, and has amassed more than five million active users on its online platform, helping people to take part in races, bike rides, and triathlons - a market worth $18bn .The company is already backed by venture capital fund Y Combinator, which has previously invested in start-ups such as Airbnb, Reddit, and Coinbase.
The latest fundraising round saw San Francisco-based Craft Ventures and Headline join as lead investors, supported by further funds from existing investors EQT, NFX and Y Combinator.“We are living in a world where we spend more time than ever with our heads buried in our phones,” said Alex Rose, co-founder of Let’s Do This. “The growing influence of social media and the Metaverse is a depressing extension of this, and the effect on our health and wellbeing cannot be ignored.
“We want to be the online platform that helps people get offline - so they can live life to the full, doing things that make them happy.”
One keeps reading about “start-ups”…RE:using cryptocurrency. But what are these start ups? Why not take your brilliant minds and mommy and daddy’s money to help those less fortunate,the homeless, feed the starving children in the world, make the world a better place.