Sweat’s original co-founders, Kayla Itsines and Tobi Pearce have reclaimed control of the digital fitness empire they built, less than three years after selling the app for $200 million to US fitness giant iFIT.
The Adelaide entrepreneurs, and former couple, are back in business together, purchasing the Sweat app back from iFIT for an unknown price, as reported by The Australian.
Pearce and Itsines, both personal trainers, rose to fame in 2015 after launching the Bikini Body Guide workout program, later evolving into Sweat. The app grew into one of the world’s leading digital fitness training platforms for women.
According to The Australian, as iFIT is now concentrating more on its core business of fitness hardware items, there was a chance for the popular duo to reclaim ownership of Sweat.
“I am thrilled to be back as an owner of Sweat, a platform that has meant so much to me and to the millions of women it serves,” Itsines said.
Itsines will remain in her role as co-founder and head trainer as part of the purchase, while Pearce has also acquired a share in the firm and will give assistance to help define the company’s long-term growth plan.
Sweat chief executive Adam Koch will remain in his role as part of the ownership transition.
Source: The Australian.
