Webit Founders Games 2022


  • Startup Name: 360VUZ
  • Name of the company: 360VUZ
  • Country: United Arab Emirates
  • Date Founded: 1/1/2017
  • Stage: Round B
  • Area: Media and Entertainment (gaming, metaverse, esports, VR/AR, NFTs)
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Founders Games Pitch

360VUZ is a pioneer immersive social app that virtually teleports people, removing the constraints of TTA (Time, Travel, and Access). The company is building a hyperconnected product to teleport, empower, and entertain its users by capturing and delivering live and on-demand 360° video content and immersive experiences. Its mission is to build the ecosystem for VR to become a mainstream experience for sporting events, influencer appearances, concerts, and more. Founded in 2017, the company reached 120M monthly screen views in 2021 and ranked #1 in the entertainment category on the App Store and Google Play for four consecutive months in 2021 in Saudi Arabia, ahead of top players (including Netflix and Shahid). Additionally, the app was awarded “App of The Year'' by Entrepreneur Magazine in 2018. It has reached over 5M users since its inception and has grown its monthly revenue to ~$700K in 2021 with an annualized run rate of $8.5M. Tapping into the ~$104B AR/VR market and $1 Trillion Metaverse market, 360VUZ plans to ride the current metaverse wave and emerge as the top player for 360° immersive content and experiences.
Providing users with authenticity. Many platforms now lack authenticity and giving the users the full picture. We give users the 360º view for them to be in control and the directors of the show.
MelodyVR is an immersive live music app that lets you experience music performances. With MelodyVR, they focus more on Pay per view vs. Subscription and focus mostly on music and targeting a small niche market. MelodyVR focuses more on music on a pay-per-view model vs. a subscription model. The model of MelodyVR is not very scalable compared to 360VUZ. Next VR specializes in VR hardware experiences. NextVR has been acquired by Apple for its VR Hardware 3 years ago. 360VUZ took that opportunity and strengthened its user base and exclusive content library during that time.
Our business model is a freemium model with monthly subscriptions and advertising. We already have 200K paying monthly subscribed users and growing at 15% month over month.
First customers are Gen Z who would love to be at different experiences around the world.
Short Term (1-2 years): Grow users and increase revenues by ensuring over 86% of total revenue comes from subscriptions and Telcos: Viral growth hacking and massive scale Reach ~880K subscribers by 2023 through extensive marketing in existing and new markets and by forming additional partnership with key Telcos in each geography; after establishing brand equity in new markets, both users and creators will be incentivized to join 360VUZ themselves, resulting in organic growth Reach yearly $25.4M in revenues by 2023 by focusing on subscription revenues growth and by expanding in-app points purchase and eCommerce features Scale to USA, KSA, Asia & Europe Long Term (>2 years): In the long-term, 360VUZ will look to: Grow its user base exponentially; increase and diversify revenues to >$150M, with ~67% coming from Telco subscriptions: Reach $152M in annual revenues by 2026 with ~13M monthly active users and ~3.9M paying subscribers; advertising will be the smallest revenue generator at that point, improving the overall user experience Reach ~25.9B annual screen views Establish a success story in the region that inspires millions of people: Viral user growth and acquisition Scale to 100 cities worldwide Partner with 70 additional Telcos Reach +$1B valuation Acquisition. via SPAC or IPO 360VUZ strives to be a platform that scales globally. The team’s strategy is to always listen to their users and keep innovating based on their demands. The plan is to continue scaling internationally and build a global successful story. The markets that 360VUZ is expanding to are Malaysia, Indonesia, Pakistan, India, USA, Singapore, Korea.
Post seed:
Raised money: 3000000 USD
Valuated at: 11000000 USD
Investor: 500 Global
Round A:
Raised money: 7000000 USD
Valuated at: 23000000 USD
Investor: Shorooq Ventures
Round B:
Raised money: 20000000 USD
Valuated at: 70000000 USD
Investor: Caruso Ventures Vision Ventures
Development stage:
What is the company valuation for this round by the lead investor?
20000000 EUR
What is the amount of financial commitments you have so far?:
18000000 EUR
What would be ideal amount of financing via the Founders Games?:
2000000 EUR
Who is the lead investor for your round?:
Caruso Ventures & Vision Ventures