What is Backr?
Backr is a digital platform. It allows fans to financially back professional women athletes, helping to bridge the gap to a living wage. Fans receive digital content and notifications of when you compete and how to watch.
Who is Backr?
Backr is founded by two empathy-driven software engineers. Denise Duffy and Ethan Fertsch met in coding bootcamp in San Francisco back in 2016. Denise is a consummate fan who loves women’s sports. Ethan is a builder of meaningful applications and a supporter of under-represented communities.
Why are we doing this?
We know that insufficient pay is a real problem for women athletes. We want to solve this. It means athletes have to worry less about their basic survival needs. Instead, they can focus their energy on their performance and professional development.
As an athlete, how do I benefit?
You have a dedicated group of fans. They are eager to support your professional athletics journey. We are enabling that connection in a unique way. Backr allows fans to support and follow you. As a result, you get access to a pool of individuals who are truly your backers.
What is the Backr / Athlete split?
There is no cost to join Backr. An athlete can never lose money on this platform. The Bronze level is a SMS notification system for your fans. We want this to be profitable for us all and at the very least cover Backr’s costs. The current Bronze level is a 60/40 split. Other splits will be advertised when we launch Silver and Gold products. We are also reviewing revenue sharing models. That way, more famous athletes can potentially share their earnings. We use Stripe as a payments platform because it is safe and secure. Both the Athlete and Backr pay Stripe fees. On the Athlete's side, Stripe takes 2.9% plus 30 cents from every user transaction plus foreign currency fees where applicable. Backr also pays $2 to Stripe for every active Athlete plus .25% of the account volume.
How do I get paid?
When you onboard, Stripe creates an account for you. Your backers pay the platform. Your portion of the money goes directly into your Stripe account at that moment. On the second business day of the month, the platform releases the funds to you into your bank.
Do I have to pay taxes on the money I make?
We know being a pro female athlete means tax time is quite complicated. Stripe offers a clear and secure dashboard that you can review at any time. You will receive a 1099-K from Stripe if you meet all of the following three criteria. 1. Your account is based in the United States (owners do not need to be US citizens) 2. You made more than $20,000 USD in total gross volume 3. There are more than 200 charges.
We have a three tiered monthly subscription model.
Bronze: Fans receive an SMS message one hour before competitions you’re involved in. It notifies them that you’re playing and providing them with information on how to watch. This increases visibility for you and your sport. As an athlete, you don’t have to do anything. Register on Backr and you can receive income from your fans. Release Date: October 8th, 2019
Silver: Fans receive the Bronze product plus to weekly social media-like updates. You craft and control and them. Most athletes are already doing this with traditional social platforms. With Backr you get paid for it through your fan’s subscriptions to you. Intended Release Date: February 15th, 2020
Gold: Fans receive the Level Bronze and Silver products plus monthly updates. We refer to these as “Athlete Produced Media”. You have complete creative control over this product. It should be a substantial digital product. Examples might include skills videos, music that you have produced, nutrition plans, or a blog about your journey. Interactive ideas are welcome such as getting on an online meeting room and watching a match together. Intended Release Date: April 15th, 2020