Targeting the Home-Fitness Revolution
Whipr is targeting the home-fitness revolution.
It’s created a compact, portable rowing machine that offers simulated workouts for swimming, kayaking, canoeing, and multi-sport training. Unlike bulky, single-purpose cardio machines, this system fits easily in an apartment or small office, and offers 10 different workouts.
With gyms closed during the pandemic, people began working out at home. Between March 2020 and October 2020, home fitness revenue reached $2.3 billion — twice the amount during the same period in 2019.
As a result, companies in this industry became extremely valuable, and were acquired for big bucks. In June 2020, Lululemon acquired Mirror, makers of an interactive home gym, for $500 million. And in December 2020, Peloton acquired fitness equipment maker Precor for $420 million.
Whipr could be the next acquisition target. It was the second-highest funded fitness Kickstarter in history, raising more than $3.5 million. Since August 2020, the company has brought in nearly $6 million in pre-sales orders.