Fitness Startup Forme Prices US IPO at Top of Range
Fitness startup Forme has priced its US initial public offering (IPO) at the top of its range, according to people familiar with the matter. The company is expected to raise $1.2 billion in the offering, valuing it at $10 billion.
Forme is the latest in a string of fitness startups to go public in recent years. The company is the first to do so in the US, and its IPO is expected to be the largest in the sector.
Forme’s Business Model
Forme is a subscription-based fitness platform that offers users access to a variety of fitness classes, personal trainers, and nutrition advice. The company has more than 5 million subscribers in the US and Canada, and it is rapidly expanding into other markets.
Forme’s business model is based on the idea that users will pay a monthly subscription fee for access to its services. The company also offers a variety of additional services, such as nutrition advice and personal training, for an additional fee.
Forme’s Growth
Forme has seen rapid growth since its launch in 2018. The company has seen its subscriber base grow by more than 50% each year, and its revenue has grown by more than 70% annually.
Forme has also been able to expand its services to new markets. The company has recently launched in the UK, Australia, and India, and it is planning to launch in more countries in the near future.
Forme’s IPO
Forme’s IPO is expected to be the largest in the fitness sector. The company is offering 25 million shares at a price of $48 per share, valuing the company at $10 billion.
Forme’s IPO is being led by Goldman Sachs and Morgan Stanley. The company is expected to begin trading on the Nasdaq on May 3.
Forme’s Future
Forme is well-positioned to capitalize on the growing demand for fitness services. The company has a strong subscriber base and is rapidly expanding into new markets.
Forme is also investing heavily in technology to improve its services. The company is developing new features, such as virtual reality classes and personalized nutrition plans, to make its services more attractive to users.
Forme is also looking to expand its services beyond fitness. The company is exploring new opportunities, such as health and wellness products, to further diversify its offerings.
Forme’s Competitors
Forme is not the only fitness startup to go public in recent years. Other companies, such as Peloton and Mirror, have also gone public and are competing for market share.
Forme is also facing competition from traditional fitness companies, such as gyms and health clubs. These companies have been able to leverage their existing infrastructure and customer base to offer competitive services.
Forme’s Impact
Forme’s IPO is expected to have a significant impact on the fitness industry. The company’s success could encourage other startups to go public, and it could also lead to increased investment in the sector.
Forme’s success could also lead to increased competition in the fitness sector. The company’s success could encourage traditional fitness companies to invest more in technology and services, and it could also lead to new entrants in the market.
Forme’s Future Outlook
Forme is well-positioned to capitalize on the growing demand for fitness services. The company has a strong subscriber base and is rapidly expanding into new markets.
Forme is also investing heavily in technology to improve its services. The company is developing new features, such as virtual reality classes and personalized nutrition plans, to make its services more attractive to users.
Forme is also looking to expand its services beyond fitness. The company is exploring new opportunities, such as health and wellness products, to further diversify its offerings.
Forme’s IPO is expected to be a success, and the company is well-positioned to capitalize on the growing demand for fitness services. The company’s success could lead to increased competition in the sector, and it could also lead to increased investment in the sector.