ClassPass Announces Acquisition of GuavaPass
ClassPass, the world’s leading fitness membership, today announces it signed an agreement to acquire GuavaPass, an aggregator of fitness experiences operating in Asia and the Middle East. The deal comes after ClassPass began rapidly expanding its international footprint in 2018.
With this transaction, ClassPass acquires GuavaPass operations in 11 cities across Asia and the Middle East including Abu Dhabi, Bangkok, Beijing, Dubai, Hong Kong, Jakarta, Kuala Lumpur, Manila, Mumbai, Shanghai and Singapore. GuavaPass founders Jeffrey Liu and Rob Pachter will join the ClassPass team, along with select GuavaPass talent, to further expand ClassPass’ international presence.
The acquisition is expected to close in January 2019, after which time, GuavaPass will cease operations in markets where ClassPass is available. In remaining markets, the GuavaPass brand will continue to operate under the ClassPass umbrella until further notice.
“We’re thrilled to acquire GuavaPass’ assets and select talent and continue building the biggest fitness membership for our customers, and the largest global network for our partners. This transaction will only accelerate our robust growth trajectory as we continue expanding throughout Asia and the Middle East,” said ClassPass CEO Fritz Lanman. “While acquiring competition is not part of our growth strategy, it’s clear that GuavaPass’ founders and team are committed to a common mission and we look forward to welcoming them to ClassPass as we continue global expansion.”
“To be acquired by an industry leader like ClassPass is a true testament to what we’ve built across Asia and the Middle East,” said GuavaPass Co-Founder, Jeffrey Liu. “When my co-founder, Rob Pachter, and I started this company 3 years ago, our mission was to provide convenient access to top fitness experiences. ClassPass’ unrivaled talent and technology means that, together, we can take our common mission further.”
With the acquisition, ClassPass now operates in over 80 markets across 15 countries and plans to continue its expansion by launching in at least 50 new markets in 2019.
“ClassPass is already the leading fitness aggregator in the US,” said Chloe Ross, ClassPass VP of International. “We’re doubling-down on our international expansion efforts with no intentions of slowing down in 2019. We’re excited to have Jeff, Rob and the GuavaPass team join us as we continue to take our peerless product worldwide.”