ClassPass Acquires Asian Rival GuavaPass to Expand Global Footprint

VCBeat (WeChat Official Account: vcbeat) has learned that internet fitness booking platform ClassPass acquired its competitor in the Asian market, GuavaPass, on January 8 local time.

ClassPass is the world’s largest online fitness booking platform. Headquartered in New York City, it partners with numerous clubs and operates 10,500 health and wellness clubs across nine countries. The platform offers classes such as yoga, strength training, ballet, martial arts, Pilates, boxing, and indoor cycling, and users can access partner gyms through its fixed monthly subscription service. Since its founding in 2012, ClassPass has raised approximately $239 million, completing Series A, B, C, and D funding rounds in 2014, 2015, 2017, and 2018, respectively.

GuavaPass, the Asian equivalent of ClassPass, was founded by Rob Pachter and Jeffrey Liu in 2015. The company partnered with 840 independent studios across 11 cities to expand its market presence.

Through this transaction, ClassPass will acquire GuavaPass’s operations in 11 cities and regions across Asia, including Abu Dhabi, Bangkok, Beijing, Dubai, Hong Kong, Jakarta, Kuala Lumpur, Manila, Mumbai, Shanghai, and Singapore. As part of the acquisition, ClassPass will hire approximately half of GuavaPass’s team members.

It is reported that this transaction is not ClassPass’s first acquisition. As early as 2014, when ClassPass acquired its competitor FitMob, CEO Fritz Lanman stated, “Acquisitions bring more opportunities than competition.”

“The founders of GuavaPass reached out to us for help.” Regarding this acquisition, Fritz Lanman stated, “GuavaPass is currently raising additional capital to provide greater security for its development. Upon completion of the acquisition, as part of ClassPass, GuavaPass will be able to continue fulfilling its original mission.”

Looking ahead, Lanman stated that ClassPass would not pursue many acquisitions, remarking, “Acquisitions are not part of the company’s expansion strategy.” In addition to its regularly planned expansion, this acquisition has currently enabled ClassPass to enter more than 80 markets across 11 countries. The company plans to expand into 50 new cities in 2019.