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Jan 15 (Reuters) - Gym booking app ClassPass proprietor Playlist said connected Thursday it would merge with fitness-tech steadfast EGYM successful a woody that includes equity backing of $785 million, led by Jared Kushner's concern steadfast Affinity Partners.
The deal, which Playlist said valued the combined entity astatine $7.5 billion, includes caller concern by Affinity Partners on with existing investors specified arsenic Vista Equity Partners, Temasek, and L Catterton, the institution said.
The caller equity backing volition assistance investment successful artificial intelligence, and enactment EGYM's propulsion into Playlist's halfway markets, including North America and Asia wherever they presently person a constricted presence, according to Playlist.
The merger comes astatine a clip erstwhile younger Americans are progressively prioritizing their spending connected wellness and wellness adjacent against the backdrop of a volatile economy.
In the United States alone, spending connected wellness was estimated astatine much than $500 cardinal annually, increasing astatine 4% to 5% each year, a 2025 McKinsey survey showed. Gen Z and millennials drove much than 41% of this annual wellness spend, according to the report.
Playlist, which has a wide scope of fittingness and wellness platforms that let radical to publication workout sessions online, said that the combined net gross of the companies successful 2025 stood astatine much than $800 million.
Post merger, Playlist's brands, which see Mindbody, Booker and ClassPass, will run arsenic accustomed and EGYM volition proceed its operations arsenic a subsidiary wrong the Playlist portfolio.
(Reporting by Angela Christy successful Bengaluru; Editing by Devika Syamnath)
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