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ClassPass, Fitness Tech Firm MindBody Eye Merger, IPO

May 4, 2021

ClassPass and Mindbody, which provide technology to fitness companies worldwide, have been discussing a merger, Bloomberg reported, citing unnamed sources. ClassPass, works as a subscription-based business, allowing users to book workouts at fitness studios and other locations. In January 2020, ClassPass said its valuation was above $1 billion since it had gotten $285 million raised from investors. Meanwhile, Mindbody makes software that is used by gyms, fitness studios, salons and spas. The company was the target of $1.9 billion leveraged buyout from Vista, which closed in February 2019. Pymnts.com