Athletech News was created with one goal – to apprise our readers with relevant content that will help inform their business decisions. We strive to aggregate the latest trends and happenings on all things fitness related. Below is what our team at Athletech flagged as this week’s most interesting reads in the world of fitness, tech and mental health.
The fitness world saw another interesting week as Peloton achieved $30 billion market capitalization, Planet Fitness showed stronger profit margins than comparable gyms in 2020, Noom got an impressive valuation of $10 billion and Myzone was voted as the Technology Company of the Year at the 2021 Fitness & Wellness Awards of Excellence.
To answer two of the most searched queries involving Peloton and Planet Fitness: as far as I (the SEO editor of this piece) can tell, no, there are no Peloton bikes at Planet Fitness, and of course you can use the Peloton app at Planet Fitness.
With a market capitalization of $30B Peloton has surely accomplished something no other fitness company has been able to achieve. And, if the valuation alone isn’t enough of a stat to make you pause, the fact that they are able to retain their members to a greater extent than other fitness products and establishments is impressive. “Ninety-two percent of fitness resolutions end within 6 weeks and our 12-month retention for our Peloton members is 93%” claims Jill Woodworth, Peloton’s CFO. In this extensive deep-dive into Peloton and the evolution of the fitness industry, readers gain a comprehensive understanding of how Peloton has excelled and what challenges and opportunities lie ahead for the company.
Digital Health Startup Noom Raises $540 Million in Silver Lake-led Funding Round
Business | Reuters | May 25, 2021
With another impressive valuation of $10B, Noom, the popular weight loss app that provides access to health coaches and personalized weight loss plans, has raised another $540M of funding. The round included new investors such as Singapore’s Temasek, life sciences-focused investment firm Novo Holdings and healthcare and fintech-focused venture capital firm Oak HC/FT. With rumours that the firm could go public within a year, this is one more hot company in the wellness space to keep your eyes on.
Why Planet Fitness Is Poised for Post-Pandemic Success
Business | Motley Fool | May 22, 2021
Thinking about investing in brick and mortar gyms right now? This might not seem like the obvious choice given all we are reading about the rise and evolution of at-home fitness ‘post-COVID.’ However, Planet Fitness might be in the right position to have a successful year ahead. With strong profit margins (higher than comparable gyms like Crunch), Planet Fitness has been able to weather 2020 better than other fitness companies. Planet Fitness owns just 4.7% of its locations and franchises the rest. Their franchisees each own an average of 20 stores and are “large, durable organizations.” Not owning most of its stores directly, makes Planet Fitness “inherently asset-light and nimble; this was especially important during a hectic period.”
Myzone: Technology Company of the Year at Fitness and Wellness Awards
Product | Myzone Blog | May 24, 2021
An expert panel of 93 judges has voted Myzone as the Technology Company of the Year at the 2021 Fitness & Wellness Awards of Excellence, hosted by FIT Summit. The award follows the launch of new wearable tech in the MZ-Switch heart rate monitor and its continued gym operator support throughout the pandemic. Myzone was shortlisted along with 13 other companies including Technogym, Mindbody, Therabody and Wexer, with the win announced as part of this year’s World Health, Fitness and Wellness Week Summit. The 2021 Fitness & Wellness Awards of Excellence is part of a highly attended online health, fitness and wellness conference and exhibition.
Glucose Monitoring Wearables: The Companies Chasing the ‘Impossible’
Product | Wareable | May 24, 2021
While there are many smartwatches and glucose monitoring wearables on the market, there is currently no watch that can do both. There are some glucose monitors that can be connected to smartwatches and smartphones to provide that data, but no wearable has been able to address both in one single tool. Why is that? Traditionally, the process of monitoring blood glucose involves drawing blood to take a measurement or using a sensor embedded under the skin to reveal blood sugar levels in real time. Companies are now seeking a less invasive way to provide both diabetics, and those interested in understanding their glucose levels a new way to do so in conjunction with smartwatch capabilities. Read this article to understand how the big players such as Apple, Alphabet, Fitbit and Samsung are trying to accomplish just that…