Is Hydrow Really Worth $1B?

The rowing machine market continues to gain momentum with Bloomberg reporting that Hydrow is now targeting a valuation of more than $1 billion.

Hydrow, a sleek connected-fitness rowing machine, appeals to those seeking a full body workout. Hydrow provides users live workouts, a library of regularly updated online classes and unguided journeys which let users transport themselves to exotic destinations. Similar to Peloton, Hydrow’s leaderboard displayed on-screen during workouts enables you to interact with other rowers. Last year, the company raised $25M from investors including LVMH-backed private equity firm L Catterton and Rx3 Ventures which is co-founded by Green Bay Packers quarterback Aaron Rodgers. Wondering whether the valuation is justified? CEO and founder Bruce Smith said the company has seen sales rise 400% since pre-pandemic, further supporting the speculation that at-home fitness will continue to be  a force in the sports and wellness arena.