ClassPass CEO on the Company's New $85 Million Funding
*By Bridgette Webb*
ClassPass is bulking up.
The subscription-based fitness platform raised $85 million in new funding led by Singapore investment firm Temasekーbringing its total financing to $255 million.
"We are really going to start hitting the gas," said ClassPass CEO Fritz Lanman in an interview with Cheddar on Friday. "We plan on going from 10,000 studio and gym partners to hopefully... more than that."
The New York start-up lets users book classes at a variety of gyms and fitness studios, and Lanman plans to launch in 10 more U.S. cities by the end of the year.
But the company isn't stopping there. Lanman also wants to enter an international market, and his sights are on Southeast Asia. But he also admitted the region is an entirely different challenge.
"I certainly think that Asia has cultural differences that I'm sure that we'll learn and might make it harder to address that market. However, we are not just doing studio fitness. We are trying to push hard into wellness. In Asia, that category of health is very popular."
The company first announced its wellness push in Februaryーallowing users a new option to book spa visits, massages, facials, cryotherapy, and acupuncture sessions.
Lanman says that ClassPass plans to test those offerings in New York City before extending the new features to the rest of its network.
The company has long-term ambitions to compete with on-demand exercise platforms like Daily Burn and Peloton with its recent launch of ClassPass Live, a live-streaming class option.
For full interview, [click here] (https://cms.cheddar.com/videos/VmlkZW8tMjEyOTA=).
Holiday shopping heats up as big-box earnings reveal how Walmart, Target & Home Depot are navigating consumer pressure, strategy shifts and trends shaping 2025.
The Campbell’s Co. said Tuesday it has placed one of its executives on leave while it investigates claims that he made racist comments and mocked the company’s products and customers in an audio recording.
Elon Musk’s X unveiled a feature that lets users see where an account is based. Online sleuths and experts quickly found that many popular accounts, often posting in support of the U.S. MAGA movement with thousands or hundreds of thousands of followers, are based outside the U.S. This raises concerns about foreign influence in U.S. politics.
The Enhanced Games is going public in two ways — with a new listing on the Nadsaq stock exchange and also by offering a direct-to-consumer business focused on performance products.
Real estate software company RealPage has agreed to stop sharing nonpublic information between landlords as part of a settlement with the Department of Justice.
Thanksgiving travel is set to smash records as millions fly, drive, and ride despite FAA disruptions and economic uncertainty. Here’s what you need to know.
AI, BNPL and new digital tools are reshaping holiday shopping. PayPal’s Michelle Gill shares survey insights, tech trends, and tips for smarter spending in 2025
'The Chair Company' blends sharp satire with workplace conspiracy. Lake Bell joins us to talk its corporate themes, quirky characters, and why viewers love it!
