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Global route planning & sharing app/platform

Reference
S7708
Turnover
Less than £0.5m
Sector(s)
Advertising & media, Health & care, Leisure, Miscellaneous, Technology
Region(s)
UK Wide, Outside UK
Added
04 May 2021

Business description

We are delighted to outline this opportunity to acquire a high growth route planning application with a global presence

The Company:

The company is an established and rapidly growing tech business operating in the social fitness space which owns a highly popular route planning and sharing application/platform used for outdoor pursuits such as; walking, cycling and running.

Launched in 2014, the application has benefitted from 8 years of product investment worth approximately £1m based on typical contract development rates. To date the business has relied solely on bootstrap investment.

Now a top ranked application used in over 200 countries worldwide, it has c. 300,000 registered users and a database of approximately 1 million mapped routes, with 6,000 new users and 30,000 new mapped routes typically added per month.


The Opportunity:

The business has demonstrated consistently strong early growth with high gross margins and has significant opportunity for future expansion and value creation, either in isolation or as part of a wider customer proposition.

The business has a “self-fuelling growth model” in that content growth attracts new users and new users then generate new content.


The Market:

Based on market sources, the global health and fitness app market is projected to grow at a CAGR of over 20% between 2020 and 2027, to an estimated value of $15.6b.

The application has the potential to reach a large section of this market and has already attracted 300,000 registered users, including over 3,000 paid subscribers, without any marketing investment.

Current users include; cyclists, runners, hikers/walkers, event and race/challenge organisers, sports clubs/groups, guides, hotels and local authorities.

The business has the potential to become a world leading route sharing platform.


Location:

Currently UK based but operating globally and fully relocatable.


Revenue:

Revenue is generated from a roughly equal split of advertising and subscriptions. Annual revenue grew by 69% in 2020 to approximately £100,000, with a gross margin of 63%.

Forecast revenue of c. £140k and pre-tax profits of £100k in 2021.

Financials

Turnover (£'000) Adjusted EBITDA (£'000)
2021 (Forecast) 140 100

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