Lose the Gym Membership, All You Need Is Classpass

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Feb. 11 (Bloomberg) –- Classpass Co-Founder & CEO Payal Kadakia discusses how Classpass works and how their partnerships can help you change up your workouts. She speaks to Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)

You inspired to start something like classpass?

I am an engineer and i've been a dancer on my life.

I have an very act of throughout my life and i've always found it very difficult to be inspired and feel like i could try new things.

And it is very expensive to take new classes in the city all the time.

It was about getting people to live healthy come a active lifestyles.

How did you go about getting all of the different purveyors, the vendors to go through you?

The fitness business has a lot of fixed costs.

For them, incremental revenue in their fitness capacity is important to them.

If they are going to give the class anyway, you wanted to be full.

Exactly, and many of them operate with under 40% capacity.

Our mission was to help all the people who want to work out and need to work out to find these better providers through a more engaging way.

That is really what classpass is.

How many different vendors do you have?

We have different -- 80 different studios.

80? yes.

We have yoga to barre, and boot camp and a ton of different studios.

Is it noticeably different to do this through class pass then to go to each one?

Yes, our membership is $99. it is a lot cheaper than going to a gym.

And seven percent of -- 70% of people who have a membership at a gym do not attend.

Ours is a lot more affordable and more engaging and we try to make it a community-based class form.

You are seeing the same faces and it is an easier way to work out every single day.

What would you like to see in the next six months?

I think everyone around the world should try to find a way to stay active every single day.

We are launching in three more cities this next month.

We will be in washington, san francisco, d.c., and currently -- and we are currently in new york.

We actually did the text our program last year.

We have been well ingrained into the startup community in new york city.

As we grow, we've got great people supporting us and we are growing very fast right now.

The revenue is growing 60% month over month.

And we already have thousands of users on the site.

Well done.

And people could following go where you take courses as well.

Absolutely.

The class pass cofounder,

This text has been automatically generated. It may not be 100% accurate.

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