💆🏽♂️ Therabody: The Multi-Billion Pound Human Performance Company
Also, have you ever wondered what £50,000 a week looks like after tax? Today, we explore.
I cannot imagine what the viewership numbers for the Abu Dhabi Grand Prix yesterday will return.
Channel 4 had the broadcasting rights to the coverage making the 2021 season-finale available to everyone in the UK on free-to-air TV.
Similarly, Ziggo (the equivalent of Sky Sports in Holland) did the same, making the race available to everyone in the Netherlands.
On one hand, we had millions of fans seeing a race for the very first time - and wow did they see a great race. On the other hand, we have millions of fans seeing a confusing and very controversial ending.
Regardless of which side of the fence you’re on, this tweet summarises everything perfectly.
This week we explore the company taking over the sporting performance arena with a raft of high-profile sporting partners.
Human performance is a topic very close to my heart.
With some of the biggest companies in the world making a concerted shift into healthcare (think Apple and the iWatch), it’s only a matter of time before human performance optimisation becomes mainstream for the casual consumer.
Therabody, are a company at the forefront of that shift.
Have you ever seen an athlete massaging themselves with a handheld massage gun?
Chances are, it was a Therabody product.
This week, they announced their newest company ambassador, Kevin de Bruyne.
Kevin de Bruyne is an investor in Therabody having joined the cap table for the company in February of this year alongside over 100 “strategic” investors.
Infact, the cap table is highly impressive.
Maria Sharapova (Tennis), Kevin Durant (NBA), DeAndre Hopkins (NFL), James Harden (NBA), Rihanna, Justin Timberlake, Kevin Hart, and Jay-Z are just a few of the names that participated in the investment round.
So too however, were some British sporting talent:
Trent Alexander-Arnold
Marcus Rashford
Maro Itoje
The Therabody story is a rapidly growing one. In February when they announced their latest fundraise, the press release revealed some fascinating numbers.
The company was profitable back in 2017
Revenue 3x’d in 2020 alone
Profits increased by 30x in 2020
As for their approach to growth? It’s a simple strategy. Partner with strategic investors and popular football clubs.
They have signed multi-year agreements with Real Madrid, Manchester City, and Paris-Saint Germain, and are now beginning to enlist their investors as mainstream advertisers.
So far, we have no Therabody performance data for 2021, neither a recent company valuation - but I think it’s safe to say every one of those “strategic” investors are in line for a healthy alpha on their investments.
With companies such as WHOOP recently being valued at $3.6bn you can expect Therabody to be not only similar in trajectory, but maybe even further along in their journey.
I have personally used a Theragun before and can categorically confirm they are very useful machines.
Therabody reportedly have over 150 patents awaiting approval which suggests a healthy range of market-leading products to hit the market in a few years.
Hopefully, Marcus Rashford, Trent A-A and Maro Itoje benefit significantly from this progress.
Visit Therabody’s website here.
Micah Richards recently sat down with Gary Lineker and Alan Shearer on the BBC and revealed how much money he was making whilst playing at Manchester City at 19 years old.
Micah revealed that he felt that “too much was given to him too early” as went from £5,000 per week to £50,000 per week when he signed his first big contract at the Etihad.
In true TLP fashion, I saw this as a perfect opportunity to dig a little deeper.
Before we do, two things to consider here:
Someone who makes that amount of money does not have a personal tax-free allowance due to the tapering of earnings over £100,000 per annum
With advanced accounting methods, I’d imagine many footballers get paid in different ways (Ltd companies, via Crypto etc), so take the following table with a reasonably sized pinch of salt
However, the graphic below shows a breakdown of what the payslip of someone who makes £50,000 per week looks like provided he is paid “normally”:
I cannot fathom what making £26k a week net at 19 year old feels like.
You’d have access to everything you could possibly want. Before you’d even really know what to do with it.
Whilst this is wild for Micah, as a reminder I will post this tweet showing what Jack Grealish’s new salary reportedly looks like:
Lord have mercy.
The video below is the interview where Micah revealed this if you want to hear him say it.
See you next week!