logo-loader
Tech
MyFiziq Ltd

MyFiziq enters partnership to promote its body shape tracking app

Partnership with one of the top 5 social fitness platforms in the world.

A woman working out
Potential annual revenue of up to US$9 million

MyFiziq Ltd (ASX:MYQ) has entered into a strategic partnership in North America with one of the world’s leading fitness applications app, Fitocracy.

Fitocracy is an online fitness and social network, with over 2 million users, that aims to help users improve their fitness and wellness.

It is ranked among the top 5 social fitness platforms in the world.

As per the new agreement, MyFiziq’s body shape tracking app will be integrated into Fitocracy’s fitness community and personal coaching app.

Fitocracy’s current user base of over 2 million users will be able to track changes in their body shape and dimension using the MyFiziq technology as they follow Fitocracy’s coaching programs.

MyFiziq will be an integral part of Fitocracy’s offering and a key point of difference to other platforms.

With an initial target of 500,000 Fitocracy users subscribing to the MyFiziq solution, potential revenue to MyFiziq, excluding future Fitocracy growth, is up to US$9 million per annum.

While the term sheet which the parties have signed is stated to be binding, the companies have agreed to enter into a definitive agreement within 90 days to better define their roles and obligations.

Quick facts: MyFiziq Ltd

Price: $0.14

Market: ASX
Market Cap: $13.82 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

JCurve Solutions further expands into Asia as part of new growth strategy

JCurve Solutions (ASX:JCS) chief executive officer Stephen Canning updates Proactive Investors on its further expansion into the asian market, with a new base recently announced in Manila, Philippines. The cloud technology and service provider now holds officers in Sydney, Melbourne,...

5 hours, 12 minutes ago

2 min read