Loco Sports has been developed as a video sharing platform to capitalise on the combined rapid growth in the market for compact action cameras (GoPro as an example now has a market cap over $7 billion), the selfie trend, and the evolution of actions sports from bum to bankable. Our mission is to engage the global tribe of action sports enthusiasts and encourage them to share their action videos on LocoSportsTV.
We think Elite athletes and events are well covered by exiting media, but our approach differs in that we are engaging from the grass roots up, democratising action sports by trying to engage the ‘have a go hero’, the ‘weekend warrior’, the everyday enthusiast. By providing users with a platform for self expression of their action lifestyle with like-minded individuals we are striving to give their ego what it wants, recognition and engagement, while also offering the opportunity to enter contests, earn some cash, build a profile, and potentially attract sponsors.
We are seeking equity investors who appreciate this business strategy, who perhaps have an interest in action sports themselves, and who share in our vision of creating a definitive hub for up and coming talent of all ages.
Achievements to Date
Since our soft launch a year ago we have brought together 1000 subscribers, had over 500 videos uploaded, received over 68,000 video views on our YouTube channel alone and built a facebook following of almost 40,000 people. We have sponsored skate contests as their official media partner, and in July 2015 we became the official media partner for Europe’s No.1 Action Sports School – Camp Rubicon, who have direct contact with kids at skateparks all over the country as they go about their national road show
Funding to Date
The company was incorporated in 2013, and the business performed its soft launch in May 2014. To date the majority of funding has come from the founder.
Projected use of Funds
Our goal is to develop the business over a 12 month period to the point of 100,000 visitors per month, after which we will seek a further funding round for 25% equity to raise a further £250-500K. Our intention is to allocate the £50,000 as per the below:
1. Operating costs of website management £500pm, Total £6000.
2. Website development and improvments £5000.
3. Editor and Founder salary combined £1458 pm, total £17,500.
4. Digital marketing for new users – £10,000 + overfunding.
5. Member rewards, competition prizes and promotional merchandise -£2500
6. PR – £1500
7. App development / Mobile improvement – £7,500