Wallace Ho 7 Jan, 2019
America's ClassPass, a platform to book gym services and classes has acquired GuavaPass, it's competitor based in Asia.
Terms of the deal were undisclosed.
Half of GuavaPass's staff will be brought across to ClassPass after the merger.
“The GuavaPass founders reached out to us and said that they were raising more money and had some options developing but that they felt they could continue working on their original mission as a part of ClassPass. They are really missionaries for the space. The transaction with GuavaPass will only accelerate our robust growth trajectory as we continue expanding throughout Asia and the Middle East", said ClassPass CEO Fritz Lanman.
GuavaPass was launched in 2015 and has a presence across 11 cities in Asia.
ClassPass is now in more than 80 markets across the 11 countries, with plans to expand to 50 new cities in 2019.
“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.