The concept behind ClassPass has been to let members book unlimited fitness classes at boutique studios for a flat rate. It has attracted 18 million reservations across 8,000 studio partners although in April this year, announced a price hike that has attracted plenty of negative, public criticism.
How they’re disrupting
Billed as the Netflix for boutique fitness classes, the model disrupts the long-term lock-in most people undertake with their gym. For exercisers they get unlimited access to a huge variety of classes; for studios, it supplements their business model and brings potential new customers through the door.
The global health club industry is valued at $80 billion.
Investments and future
ClassPass have raised a huge $84 million in funding, their latest $30m Series C round led by from GV (formerly Google Ventures). Once they sort their pricing the world is their oyster. Or dance studio. One of those.