After Years Of Bootstrapping, MyFitnessPal Raises $18M Round From Kleiner Perkins And Accel

After Years Of Bootstrapping, MyFitnessPal Raises $18M Round From Kleiner Perkins And Accel

MyFitnessPal, the usethat allows usersto lanetheir caloriesand sharethat reportwith friends,has lifted $ eighteen millioninits initial turnof funding.

This seemslike the singleof thosestorieswhere the association goes years but raisingany appropriation (MyFitnessPal launchedin Sep 2005) prior to raising incomefrom top-tier try firms.The turnwas ledby Kleiner Perkins Caufield& Byerswith appearancefrom Accel Partners,and Kleiner’s John Doerrand Accel’s Andrew Bracciaare fastenthe board.

MyFitnessPalhas formerlysaidthatithas some-morethan 40 million purebred users.Aspartofthe appropriation announcement,italsosaysthatits usershave mislaid the sumof 100 million poundsto date,andthat overthe past year,ithasbeen adding 1.5 million usersevery month.

Asforwhyit’s raising income now, co-founder Mike Leetoldmethatheandhis co-founder/brother Albert Leehave regularlyhad“a thousand objectto-do list,andwecouldonlydo 3 thingsonit.” Over time,hesaid,“things kept droppingoffthe list,which kept removingbiggerandbigger.”So raising incomewill concedethe associationto enhancethe groupandto supplementthe facilitiesthatthe Leeshavebeenplanning.Italso allows MyFitnessPaltoput some-more resources at the back ofits new effortsto enhance internationally,which doesn’tjust engagecreating translated versionsofthe websiteand app,butalso awaitfor internal dishesand unitsof measurement.

As MyFitnessPalhas grown, the seriesofother serviceshave sprung uptohelp users lanetheir health,someofthemcreatingtheirown inclinationand others relyingonthe smartphone.The association essentially offersan APIthat helpsit confederatewith outward services.

“Clearlythere’sthis blastof wake up function aroundthe quantified self,” Leesaid.“The volumeof interpretationthatwewillhaveaboutour personal illnessisonly startingto grow.…We unequivocally wishto allegeour capabilitytohelp usersmake definitionfromallthis data.We unequivocally wishto investigatethe interpretationtohelpour usersbe successful.”

Asformaking money, even yetthe associationhasbeen essentialsinceits inception, Lee concurredthat MyFitnessPal hasn’t taken the quite worldlyapproachinthis area to illustrate far:“Wehavenotbeen focusedon monetizationto date, generallyfor the bootstrapped company.We literally slapped adson.”Sohe skeletontodo“a lotof thinking” aroundthe commercial operation indication--the key,hesaid,isthat MyFitnessPalis addressing the genuine suffering indicatefor users.

Anthony Ha
Source : http://feedproxy.google.com/~r/Techcrunch/~3/jyLzgTap3S0/

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