classpass
Auto Added by WPeMatico
Fitness marketplace ClassPass acquires competitor GuavaPass
ClassPass, the five-year-old fitness marketplace startup with $239 million in financing, is acquiring competitor GuavaPass, which was founded by Rob Pachter and Jeffrey Liu in 2015.
ClassPass is in the midst of an expansion sprint, both domestically and internationally. The company is hyper-focused on Asian markets, where GuavaPass had carved out its own place with 75 studio partners across 11 cities, including Abu Dhabi, Bnagkok, Beijing, Dubai, Hong Kong, Jakarta, Kuala Lumpur, Manila, Mumbai, Shanghai and Singapore.
The financial terms of the deal were not disclosed.
This is not ClassPass’s first acquisition. In 2014, ClassPass acquired competitor FitMob. But CEO Fritz Lanman says that this is less about competition and more about opportunity.
“The GuavaPass founders reached out to us,” he told TechCrunch. “They said that they were raising more money and had some options developing but that they felt they could continue working on their original mission as a part of ClassPass. They are really missionaries for the space.”
ClassPass will be bringing on about half of the GuavaPass team as part of the acquisition. However, Lanman doesn’t expect to do many acquisitions in the future, saying that “acquisition isn’t a part of the company’s expansion strategy.”
Alongside regularly planned expansion, the acquisition now puts ClassPass in more than 80 markets across the 11 countries, with plans to expand to 50 new cities in 2019.
Powered by WPeMatico
Humbition is a new fund led by the Indiegogo’s Slava Rubin
Zocdoc founder Cyrus Massoumi and Indiegogo founder Slava Rubin have created a new $30 million fund called Humbition aimed at early stage, founder-led companies in New York.
“The fund is focused on connecting startups with investors and advisors experienced in building and growing successful businesses,” said Rubin.
“We are seeking to fill a void in NYC, where the vast majority of early stage investors have no significant experience building and scaling businesses,” he said. “The fund’s main areas of investment include marketplaces, consumer and health tech. But the primary criteria for investments is high quality founders. The fund is also seeking out mission-driven businesses because the companies that are socially responsible will be the most successful in the coming decades.”
The fund has brought on ClassPass founder Payal Kadakia, Warby Parker founder Neil Blumenthal, Charity: Water CEO and founder Scott Harrison, and Casper founder and CEO Philip Krim as advisors. They have already invested some of the $30 million raise in Burrow, a couch-on-demand service.
“New York City is home to a tremendous number of mission-driven startups that are simply not receiving the same level of support as their peers in the Bay Area. This void presents a unique opportunity for humbition to reach the incredible local talent who need the funding and guidance to build and grow their businesses in New York City,” said Rubin.
Powered by WPeMatico
ClassPass begins testing variable pricing as it expands beyond studio fitness
On the heels of its $70 million Series C, an expansion to new markets, and a partnership with Blink Fitness, the popular workout subscription service ClassPass is now beginning to experiment with variable pricing. The test was revealed by new ClassPass CEO Fritz Lanman, speaking on stage at TechCrunch Disrupt SF this afternoon. The idea to try out a virtual currency of sorts came about… Read More
Powered by WPeMatico
ClassPass ditches its unlimited tier
ClassPass, the subscription service for boutique fitness, has today cancelled its unlimited membership option, the most expensive tier offered by the company. This comes in the wake of a major price hike from ClassPass that fragmented its $99 unlimited plan into three tiers: Base (5 classes for $75/month), Core (10 classes for $135/month) and Unlimited ($180/month).* Today, however,… Read More
Powered by WPeMatico
ClassPass sacrifices 10% of customers in pursuit of healthier margins
Classpass, the subscription service for fitness classes, became a household name because of one simple innovation. The business model. Combining the breadth of a marketplace with a subscription pricing structure sparked a handful of similar startup launches (like Vive, which does the same thing with hair blowouts). But more importantly, it was the turning point for the company, putting it… Read More
Powered by WPeMatico
Mission 360 is a VOD platform for yoga, meditation, fitness classes
We all want to be in better shape, but the commitment of going to a gym or a yoga class can be costly and time-consuming. Mission 360 is looking to eliminate all of the friction involved with working out, letting users do it from their homes through on-demand video classes. Read More
Powered by WPeMatico
ClassPass Acquires Competitor FitMob
If you were curious about potential consolidation in the fitness space (which I’m sure you were), look no further than this very article. ClassPass, the subscription service for unlimited monthly fitness classes, has acquired direct competitor FitMob for an undisclosed amount. ClassPass, a company that has raised more than $54 million in the past three years, is a subscription service… Read More
Powered by WPeMatico
With A $60M Revenue Run Rate, ClassPass May Be The Next Uber
TechCrunch has secured financial information about ClassPass, the TechStars-backed startup that offers unlimited access to various fitness classes for a flat monthly fee. As it stands now, our sources report that ClassPass is tracking to a $60 million revenue run rate for 2015, a run rate that has doubled in the past three months. Last week alone, the company brought in $1.5 million and this… Read More
Powered by WPeMatico