PDF Workouts To $400M
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A story about how a fitness influencer turned her PDF workout guides into a successful fitness app that sold for $400M.
"This woman, a fitness influencer on Instagram named Kayla Itsines, started by selling PDFs. My wife bought one for $29. Then they turned it into an app. The app was great - when you open it, there were 5 women who were the trainers. Each had different body types - one very muscular, one very thin, one toned, another with a huge butt. It was like 'which body do you want?' and you'd follow their program.
They were doing $100M in revenue, and they just sold to a company called iFit for $400M. iFit is about to go public. It's a pretty low multiple for a digital product at 4x revenue, but she had 30M followers and built it all based on her following. Pretty amazing exit and definitely worth it for iFit to buy."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.