Mindbody is the quiet achiever that all the cool kids are using (think: F45, KX Pilates and many of your locals).
Background: Mindbody is the quiet achiever. It's a platform that runs the booking system for gyms, fitness studios and even beauty salons. All the cool kids are using it (think: F45, KX Pilates and many of your locals).
What happened: ClassPass is a fitness app that gives you access to different gym classes. So, instead of going to one gym...never, you get to go to heaps of gyms (also...maybe...never?).
What else: Now, Mindbody has acquired ClassPass in an all-stock deal. So businesses using ClassPass could come on as Mindbody customers too.
💡An all-stock deal is when the buyers (i.e. Mindbody) give the sellers (i.e. ClassPass) stocks in their company as payment.
💡All-stock deals are normally done for two reasons:
💡It's the opposite of an all-cash deal, where acquiring companies pay the sellers in cash only...'cos they got fat stacks lying around.
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