Fitness enthusiasts with a love of variety in their workout routines have ClassPass- a subscription service that allows members to attend various classes at gyms and boutique studios. And now, after raising about $54 million in the last three years, TechCrunch reported that ClassPass has made its first acquisition: competitor FitMob.
FitMob, which originally launched as a marketplace for personal trainers, began emulating ClassPass's business. ClassPass grew bigger - to 34 markets - but the FitMob buyout gives it easy entrance into another eight.
FitMob in those markets will soon begin operating as ClassPass - and those looking to sign up for FitMob will be redirected to the ClassPass site.
Those on Fitmob will also gain access to ClassPass studios in the 34 markets in which ClassPass is offered. ClassPass will have to work on separate deals with each of the Fitmob studios not on ClassPass, as their merchant lists diverge some.
ClassPass makes its money by purchasing fitness classes at a wholesale rate from gyms and boutiques and then reselling them to subscribers as a bundle. The service is new - as is the tech fitness market - which has led some to express surprise at the acquisition.
ClassPass originally launched out of TechStars as a search-based marketplace that existed to connect users to various lessons - even non-health related ones like guitar. That revealed something interesting - people join gyms to motivate themselves to go to fitness classes. ClassPass was born out of a Passport feature - which itself was a tool to bring users on the platform. Eventually, the tool became more popular than the platform that hosted it, and the firm changed its business model.