ClassPass

ClassPass, founded in 2013 by Payal Kadakia, redefined the fitness industry by offering an all-you-can-sweat buffet of boutique classes, turning once-exclusive studios into accessible playgrounds for the commitment-phobic. What started as a clever solution to Kadakia’s own workout woes quickly ballooned into a venture capital darling, raising over $500 million and reaching a $1 billion valuation before the pandemic hit, leaving yoga mats and spin bikes gathering dust. The company’s model—spreading fitness enthusiasm across multiple disciplines—was lauded for democratizing wellness, even as critics whispered about its sustainability. In 2021, ClassPass was acquired by Mindbody, a move that felt less like a triumph and more like a lifeline. The legacy? A fleeting moment when fitness was flexible, and commitment was measured in class credits rather than contracts, showing that even the most innovative models can struggle to keep pace with the unpredictability of real life.