--- title: Mindbody’s acquisition of ClassPass is a bet on in-person fitness bouncing back - The Hustle description: Mindbody acquired ClassPass, and both studios and consumers will benefit from the combined entity. image: https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/GIFs/1525074935-News-Brief_2021-10-15T012316.543Z.webp --- # Mindbody’s acquisition of ClassPass is a bet on in-person fitness bouncing back ![Rob Litterst](https://thehustle.co/wp-content/uploads/2023/01/Rob-Litterst-pic.png?width=48&height=48&name=Rob-Litterst-pic.png) [Rob Litterst](https://hs-sbup.thehustle.co/author/rob-litterst) [Rob Litterst Twitter profile ](https://twitter.com/robbylit) Published: October 15, 2021 Updated: October 11, 2023 Few businesses have had to sweat out the pandemic like the fitness industry. ![Mindbody’s acquisition of ClassPass is a bet on in-person fitness bouncing back](https://hs-sbup.thehustle.co/hs-fs/hubfs/The%20Hustle%20News/Assets/GIFs/1525074935-News-Brief_2021-10-15T012316.543Z.webp?width=595&height=400&name=1525074935-News-Brief_2021-10-15T012316.543Z.webp) The US fitness market [lost](https://www.clubindustry.com/industry-news/us-fitness-industry-lost-204-billion-2020-comeback-horizon-ihrsa-report) **$20B** in 2020, with **22%** of fitness facilities [closing](https://www.nytimes.com/2021/07/23/style/fitness-gym-return.html) permanently, and **1.5m** fitness workers losing their job. But Mindbody, which helps drive bookings for fitness studios, is doubling down on recovery. The firm [acquired](https://techcrunch.com/2021/10/13/mindbody-acquires-classpass-in-all-stock-deal-and-secures-500-million-investment/) ClassPass for an undisclosed amount in an all-stock deal, and secured a **$500m** round of funding for the joint entity, per *TechCrunch*. #### **The move has been compared to Facebook’s acquisition of Instagram…** … because it brings together 2 complementary platforms: - **Mindbody** offers software for studios to manage bookings, along with a consumer-facing app where users can book classes (think OpenTable for fitness studios) - **ClassPass** offers a monthly subscription that gives subscribers access to a fixed number of classes across a range of studios Joining forces will strengthen both products, and should lead to benefits for studios and consumers: - Mindbody will give ClassPass subscribers access to a wider selection of studios - ClassPass will help Mindbody’s customers fill more classes #### **But are people ready to return to the gym?** Mindbody and ClassPass claim their data shows pent-up demand for in-person fitness — and recent research [suggests](https://www.cnbc.com/2021/06/18/americans-back-to-gyms-interest-in-at-home-workout-wanes-jefferies.html) they’re on to something: - In June, traffic at gyms recovered to 83% of pre-pandemic levels - Meanwhile, searches for digital fitness have fallen since peaking in April 2020, per Jefferies Research While the delta variant may impact traffic for the immediate future, the acquisition (and funding) will allow the new super app to thrive once consumers feel comfortable sweating in public again. 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