The startup marketplace ClassPass announces its acquisition of GuavaPass to continue its expansion sprint.
ClassPass is a fitness marketplace startup that provides users access to wellness classes and health clubs. It was founded by Payal Kadakia in 2013. The idea of ClassPass began when Kadakia couldn’t find a dance class to attend to after work. The company’s mission was to motivate people to lead inspired lives every day by introducing and seamlessly connecting them to soul-nurturing experiences.
ClassPass was in the midst of its expansion sprint. With this sprint, the company has acquired its Asia-based competitor GuavaPass. GuavaPass, on the other hand, gives its members access to a community of fitness studios and healthy-living, founded by Rob Pachter and Jeffrey Liu in early 2015.
According to Classpass, GuavaPass founders Liu and Pachter will join the ClassPass team, along with select GuavaPass talent, to further expand Classpass’ international presence.
The deal will also let ClassPass take over GuavaPass’s operations in 11 cities across Asia which includes Singapore, Bangkok, Dubai, Hong Kong, Jakarta, and other Asian countries. However, the GuavaPass brand will continue to operate in markets where ClassPass does not have a presence.
Fritz Lanman, chief executive officer of ClassPass said that they are thrilled to acquire GuavaPass’s assets and select talent and continue building the biggest fitness membership for their customers, and the largest global network for their partners.
The financial terms of the deal were not disclosed but is expected to be completed by the end of January.