Eric Min is the current CEO of Zwift, an online multiple player physical activity, running and training program. Min is a passionate guy, and he's made some amazing contributions to the world during the recent pandemic lock downs with online options for fun, fitness, and keeping a competitive spirit alive. His took an interest and turned it into a lucrative business. Min is an inspiration for would be entrepreneurs who are still trying to figure out how to make their ideas work in a business world that is currently sequestered by stay at home orders. Here are 10 things that you probably didn't know about Eric Min that might inspire you.
1. Min is an avid cyclist
According to the Zwift website, Eric rode his first bicycle when he was just 7 years old, but when his family moved to New York City, he had to give it up. He picked it up again when he was in his early teens after moving to the suburbs where there were safer places to ride. A friend taught him how to cycle properly. From this point on, he was hooked . He even took his love for cycling to the track, joining a local racing club, and viewing it as a serious sport. He invested in all of the necessary gear and has been cycling ever since.
2. Zwift wasn't the first company he co-founded
Eric continued his story for the website by sharing that he an his partner Alarik Myrin had gone in on a company prior to founding Zwift. It was a business that they named Sakonnet Technology. Myrin was the tekkie, and the two put their talents together to develop the company which was going fairly well for them. Min has a knack for taking care of the finances and operations.
3. Eric Min sold a business to start Zwift
After establishing and launching Zwift, Min and his partner realized that it had great potential for becoming successful. He sold interest in his company Sakonnet Technology, to invest in Zwift. This new business was co-founded with Jon Mayfield, who was an expert in 3D training program development.
4. He's a skilled fundraiser
Min knows how to sell an idea to potential investors for the sake of raising startup and expansion funds. The company was founded in 2013, but by the end of 2018, it was apparent that they needed more capital to fully expand and reach their current potential. Under Min's leadership, Swift raised $120 million in Series B investment funds, led by Highland Europe from England. This was used to expand the categories offered. An additional $450 million was raised by the KKR firm to further the development of the software platform for Zwift and for marketing the software.
5. He was an executive prior to his entrepreneurial ventures
Eric Min was a skilled leader before he founded Zwift. He worked in the financial sector for a number of years. According to his LinkedIn profile, he held a vice president position at JP Morgan from July of 1990 through June of 1998, spending 8 years in executive leadership with the firm. He worked in the New York, New York office prior to leaving and starting his first business in 1999.
6. Min has a huge network of memberships
Eric is a busy guy, keeping Zwift on its toes and even expanding the business, but he still makes time for his other commitments. He maintains membership in a variety of different organizations. On his LinkedIn page, he listed them as JP Morgan Alumni, ICE International Cycling Executives, Cycling professionals, Strava, and the Professional Cycling Network. At a glance it's not hard to tell what he's passionate about.
7. Eric is proud of his endeavors
You can tell that Eric Min can't get enough of cycling. He posts the statistics including the number of miles that he covers on a regular basis through his profile on Strava. It's an app that allows you to keep track of how many miles you ride in a month, along with your moving time and the elevation at which you ride.
8. He has some prizes in his trophy case
While we were visiting Eric's Strava page, we couldn't help but notice that he has a few impressive trophies in his "Trophy Case" for the site. He's been cycling in France, and he earned credits for the Alp Du Zwift Challenge in April of 2018, the Zwift 10 in 10 Challenge, the 1000 KM Junedoggle, and the 1000 KM "The May Massive" in 2013.
9. He's still completing challenges
Min is still balancing his work and cycling time very well. He's participated in a variety of notable rides in the month of September 2020. These include making the 3rd fastest time for all but one of the 5 events he's participated in. They are Paceline, Pandora, Leonssprint, Horseshoe North Loop, and PR on Volcano Climb from start to finish, most recently on September 21. This shows his commitment to being actively involved in cycling instead of running the business from behind a computer desk. He is very much a hands on leader, but it's not difficult when you love doing something as much as Min does cycling.
10. You can follow him on Twitter
If you'd like to know more about Eric Min, you can follow him on his social media account. He keeps everyone who follows him up to date on what he's up to, and what he has going on in his busy and interesting life. He makes some great posts with photos, press releases, and things that interest him personally. So far, he has 4,026 followers on his Twitter account. You can keep up on what's happening now and what may be coming up in the future. He's been great about keeping the page updated.
Written by Allen Lee
Read more posts by Allen Lee