Calm is a meditation and sleep app startup.  Calm is currently based in San Francisco and was founded in 2012 by Alex Tew and Michael Acton Smith. Calm’s leadership structure is unique, because both co-founders serve as co-CEO  while generally only one of the founders would serve as CEO.
Calm offers several courses on the app regarding meditation entitled “X days of Calm” where X can vary depending on the program period chosen by the user. Additionally, there are various sessions, some guided and some self-based that provided various exercises and activities to help with sleep and meditation. Calm also has social media communities on all the major platforms which can be accessed through the app.  Calm premium which contains almost all of Calm’s courses and exercises costs $15/month, $70/year or $400 for lifetime access. 
Currently, market potential is rising rapidly for sleep and meditation apps. The COVID pandemic has left many anxious, hopeless, and restless. 32% of American adults in a recent survey stated that they have difficulty sleeping at least 3 days a week, and 14% of American adults surveyed stated that they have difficulty sleeping at least 5 days a week. 33% of American adults surveyed in the 18 – 29 age group, the same demographic that would most likely use apps, stated that they felt high distress during the COVID pandemic.  That being said, once vaccines start to roll out and COVID comes under control, these numbers will start to fall, potentially even falling rapidly which could lead to the sleep and meditation app bubble bursting. The market could be extremely volatile in the next couple of years.
During this pandemic period, not only has the market potential risen has risen during the pandemic period, but Calm has experience growth. While Calm has only released a handful of financial metrics, it is known that Calm’s total number of downloads as of December 2020 had risen 150% from February 2019 (100 million vs. 40 million), and Calm’s total number of paying users had risen 300% (4 million vs. 1 million) in the same period. 
Calm’s major competitor in the space is Headspace. Both apps are close with each other in terms of competition and quality. Many articles that compare Headspace and Calm can be found online.  Like Calm, Headspace is also in the Pre IPO stage. . Other competitors in the space include Chopra, Sattva, and Yogi Approved. 
In its latest funding round, Calm raised $75M at a valuation of $2B. Venture capital firms Lightspeed capital and Insight Partners participated along with private equity firm TPG and individual investors including Salesforce CEO Mark Benioff.  To date Calm has had a total cap raise of $218M. 
Calm is at the center of a highly volatile market. With Calm and it’s major competitor both potentially pursuing an IPO soon, the sleep and meditation app space will be no doubt an interesting space to watch.
Articles for Further Reading (and in part used to create this post)