EsquaredLanding

Intellectual Property Acquisition Opportunity

Esquared Technologies Limited (in Administration)

James Sleight and Peter Hart as Joint Administrators of Esquared Technologies Limited (in Administration) ("Esquared" or the "Company") have appointed Hilco Streambank to actively seek interested parties with regard to the sale of the intellectual property assets (the "Assets") of Esquared.

OFFER DEADLINE

Wednesday, April 17 2019 at Noon BST (British Summer Time)

Background

Esquared is a tech-based fitness marketplace that enabled users to book on-demand classes and gym sessions. The platform monetised unsold capacity and provided a further marketing channel for fitness venues to connect with users. The Company launched in London in November 2017 and has since achieved circa 57,000+ cumulative downloads and circa 24,000+ bookings and has expanded operations across London, Sydney and North America. 

Esquared operated through an app-based platform called "Esquared Fitness" which connected users with a variety of fitness classes and two-hour sessions at gyms. It was on-demand service, which meant users only paid for the classes they booked and no contractual obligations to Esquared, or the gyms they visited. Esquared's member gyms and studios logged on and listed either time slots or specific classes that were available and set prices for each, which the end user paid for per use. The app facilitated intelligent, dynamic pricing to help venues sell empty slots and therefore increase their revenues. 

Available Assets

Goodwill rights in "Esquared" Brand

The brand has been widely promoted as the Company has invested in community building by creating content and engagement in fitness, nutrition, athlesiure and wellbeing. In executing this strategy the Company has partnered with social media brand ambassadors who have promoted the brand through various social media outlets. 

The brand has also received extensive positive press coverage across national fitness and lifestyle publications and newspaper outlets. The London Evening Standard quoted Esquared as the “best new fitness app” and Harper’s Bazaar stated “Think Uber of Fitness”. 

Registred Trade Marks

The Company possesses a trade mark portfolio of 9 registered trade marks which protect the brand with international coverage. A trade mark schedule is available on request. 

Software

The Company operates an app-based platform that connects users with a variety of fitness classes and two-hour sessions at gyms. The app is available for download on iPhone and Android. The app has been developed to facilitate a streamlined booking process with an easy four click journey. 

The proprietary technology has been created to enable rapid scalability with enterprise-class software. 

Domains

The Company possesses a domain name portfolio of branded domains. A domain name schedule is available on request. 

Copyright in Web Content

The Company holds copyright in the web content at esq2.com. The website is rich in imagery and content. The website also hosts an active blog, with numerous informative articles on lifestyle, health and fitness. 

Social Media

Instagram @esquared fitness

LinkedIn @EsquaredFitness

Facebook @esquaredfitnessuk

Twitter @esquared_uk, @esquared_aus

Partnership Relationships

The Company has always established working relationships with a number of gyms and fitness brands including KXU, Hilton, Infinite Cycle and Sweaty Soul. 

Esquared

Opportunity

The Company was founded in response to the shift in consumer demand towards drop-in style work outs and a pay-as-you-go model, as opposed to the traditional rigid subscription model. This on demand market has already seen huge successes in a number of industries through app platforms such as Uber, AirBnB and Deliveroo, and is now disrupting the fitness industry. 

The number of health clubs globally has increased from 128,000 in 2009 to to more than 220,000 in 2018. This trend is set to continue as The Association of Fitness Studios has reported that boutique studios are growing at an unprecedented rate, with over 100,000 venues operating in the US alone. This upward trend is also evident in the UK as The Global Boutique Trends Report 2018, compiled by ukactive Research Institute, highlights the burgeoning boutique fitness market in the UK. The Esquared platform capitalises on the change in fitness trends along with consumers' desire for a personalised on demand service. The opportunity to acquire the Assets provides an opportunity for a buyer to expand or enter the growing market. 

Key Terms & Conditions

The Joint Administrators act as Agents of the Company and without personal liability. The bidder acknowledges that Hilco acts as an agent for the Joint Administrators who offer for sale only what right, title and interest (if any) the Company possesses in the intellectual property assets. Such sale will be without any warranties, expressed or implied. The information provided has not been verified by Hilco or the Joint Administrators and bidders are deemed to have carried out their own due diligence. 

A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. VAT, if applicable, at 20% will be added to the price. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank's full Terms and Conditions apply. 

Interested Parties

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