My dear Instabeat community,
I have some heartbreaking news to share with you. We made the difficult decision to stop developing our product as of today. Your Instabeat device will keep working with the iOS app until December 30, 2020.
Instabeat was an incredibly difficult product to deliver, it was called “the mount Everest of hardware” by everyone we’ve worked with. We designed and manufactured the product from scratch twice; in the last round, I personally moved to China for a year to make sure we got to the finish line.
As our timeline kept extending, our cash got tighter. We were committed to building a sustainable business funded by our healthy product margins, and hold off on raising additional venture funding until we have good market traction.
We had a successful launch, with great reviews, and were backed by some of the top swimmers and coaches in the world. However, a few months ago, our sales drastically stopped overnight when pools all around the world closed due to COVID-19 lockdowns. We were also working on some partnerships that were put on hold, and we found ourselves at an impasse. We realized it would be impossible for us, under the current circumstances, to keep delivering a product that exceeds your expectations.
I still want you to know, my dear Instabeat community, that over the last 8 years the team and I have done everything in our power to honor our commitment to you and to try to avoid this outcome.
Thank you for helping us bring this magical product to life, for allowing swimmers all over the world to swim faster and longer, and for being an early investor in the swimming technology space. We are melancholic that this is where and when our story ends, especially at a time where we could all use some more swimming.
I am personally feeling a mix of pain, anger, grief, but also a lot of pride and gratitude for this incredible unique journey. I vow to use all these sentiments and lessons learned to evolve as a founder, leader, engineer, athlete and overall human. Thank you for giving me this opportunity.
For questions related to your product, please check our FAQ.
I wish you love and health, and hope to ‘see’ you soon at the pool.