On Thursday, ClassPass, the premier fitness membership declared its acquisition of the competing and fast-growing San Francisco-based Fitmob. This acquisition will pave way to create the world’s largest network of fitness studios and gyms open to the customers for a fixed monthly price rather than annual subscription. The value and the terms of the deal has not be revealed.
Launched in 2013 by Raj Kapoor and Paul Twohey, Fitmob offers unlimited fitness classes and gym access in the Bay Area for a monthly pay. In its last round funding, the company raised at least $14.8 million from Mayfield Fund, Silicon Valley Bank, Queensbridge Venture Partners, Rocketship.vc, and angel investors.
New York-based ClassPass founded in June 2013 by Payal Kadakia and Mary, allows members to access fitness studios in their area for a monthly fee of $99. The startup is already the world’s largest network of fitness studios, encouraging people work out across 34 cities in three countries. Until today, the startup has promoted more than 4,000,000 class reservations at over 4,000 partner studios and gyms. Also, it has raised a total of $54 million in venture funding from Slow Ventures, Thrive Capital, General Catalyst Partners, Box Group and others.
Now For ClassPass, combining with Fitmob and its trainer-led community classes gives users unparalleled access to thousands of fitness providers, creating a huge opportunity for studios, gym owners and trainers to market their businesses to an active consumer crowd. Those on the Fitmob platform will now automatically become ClassPass subscribers and the Fitmob site will soon redirect to ClassPass for all new sign-ups. Fibmob members can now access to ClassPass studios in the 34 markets where ClassPass is available. However, not all studios are functioning with both platforms, so ClassPass will have to work individually on separate deals with every Fitmob studios that are not under ClassPass.
The trend of the boutique fitness studio that kick started with Pilates and yoga, is everywhere in the past couple of years. With this deal, these independent gyms, studios and trainers have one solo platform to promote their offering and fill classes, making it simpler than never before to generate incremental revenue for their businesses. This not only benefits the owners but also the clients by eradicating the hurdles and cost associated with separate class booking at different studios or having multiple gym memberships.
Payal Kadakia, co-founder and CEO of ClassPass said, “We are excited to welcome the Fitmob community into the ClassPass family to create the best and broadest fitness network for our members and the largest global fitness community for our partners.” She also added, “ClassPass and Fitmob share a common goal of motivating people to live an active lifestyle and we are glad to be joining forces to help realize that mission.”
Fibmob is the ClassPass’ first acquisition.