Fitt Insider

Today I'm joined by Nick Green, CEO of Thrive Market. In this episode, we discuss: Thrive's business model that's been described as Costco meets Whole Foods. The importance of increasing access to healthy, high-quality foods. How Nick was able to raise $250M after getting turned down by countless investors. Why he says the company is just getting started. About Nick Nick Green is the co-founder and CEO of Thrive Market, an online market on a mission to make healthy living easy and accessible for every budget, lifestyle, and geography. For $60/year, Thrive Market members save 25% or more on a curated catalog of the world's highest quality healthy and sustainable food, home, and beauty products. Each paid membership also sponsors a free one for a family in need and enables Thrive Market to ship every member order using carbon-neutral shipping from its zero-waste fulfillment centers. Since its inception in 2015, Thrive Market has grown to a community of over 800,000 paid members, each committed to the health and wellbeing of their families but also united around a vision for a healthier and more sustainable world. More from Fitt Insider Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, Apple, Peloton, Goldman Sachs, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co

Today, I'm joined by L Catterton Managing Partners Michael Farello & Jon Owsley. In addition to investments in consumer brands across almost every category, L Catterton has been heavily involved in the fitness space investing in Equinox, ClassPass, Peloton, Tonal, and many others. In this episode, we take a deep dive into the future of fitness, including COVID's impact on gyms and studios, the growth of connected fitness, and the potential for tech companies like Apple and Amazon to get involved. More on today's guests Michael Farello Michael is a Managing Partner of L Catterton's growth fund, focusing on all aspects of the fund's investment strategy and portfolio management. Over the course of his career, he has served on the Boards of more than 30 companies, with a particular focus on health and wellness, technology and direct-to-consumer businesses. In this capacity, he has focused on the companies' growth strategies, acquisitions and marketing and has extensive experience on both compensation and audit committees. He has served on the Boards of Vroom (NASDAQ: VRM), HomeChef (acquired by Kroger), Better.com, 98point6, ClassPass, Hydrow, Humann, and Pinarello among others. Michael has worked in the consumer sector since the late-80s as a consultant, senior executive, and investor. Prior to joining Catterton, he held several executive positions at Dell where he led the company's consumer marketing and ecommerce business following a strategic role in the Office of the Chairman. Previously, Michael spent 12 years at McKinsey & Company, most recently as a Partner focusing on the consumer sector. Mr. Farello earned an M.B.A. with distinction from the Harvard Business School and a B.S. with distinction in industrial engineering from Stanford University. Jon Owsley Jon is a Managing Partner of the L Catterton Growth Fund. Prior to joining L Catterton, he was a consultant at The Parthenon Group, a strategy consulting firm based in Boston. Prior to joining The Parthenon Group, Jon was a corporate attorney at Hale and Dorr (now Wilmer Hale) in Boston. Prior to Hale and Dorr, he was the Assistant Brew Master at Otter Creek Brewing and was a college lacrosse coach. Jon received a B.A, magna cum laude, from Middlebury College and a JD, with honors, from Cornell Law School. Jon lives in Connecticut with his wife and three teenage daughters. More from Fitt Insider Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, Apple, Peloton, Goldman Sachs, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co

This week, we're excited to bring you the first episode of Startup Spotlight – a recurring series where we speak with early-stage founders working on fitness and wellness startups. We usually focus on established companies, operators, and inventors — and we'll continue bringing you those conversations most weeks. But, from time to time, we're highlight companies at the beginning of their journey. Today I'm joined by Cam Porter — the Founder and CEO of Core. Core is making it easy for fitness instructors to create a branded digital experience across iOS, Android, and the web. The company's content and client management tools help instructors launch and scale their business. In this episode, we discuss the current state of digital fitness, the disconnect between fitness and health, empowering instructors to build an online business, and the challenges Core is working through to get a product to market. A quick note on today's episode, Anthony and I working with Cam and the Core team in an advisory role. We're excited to play a small part in helping fitness instructors grow their businesses. More from Cam Cameron Porter is the founder and CEO of Core, the most recent incubation to come out of the NYC based venture studio, AlleyCorp, best known for its past incubations that include; MongoDB (MDB), BusinessInsider, Gilt Groupe, Zola, and many more. Prior to leading Core, Cameron worked as a Venture Architect at AlleyCorp where he helped to launch companies in spaces ranging from renewable energy food truck fleets to prescription digital therapeutics. His path the venture world was not a traditional one. Cameron dropped out Princeton when he was drafted into Major League Soccer. While playing professionally, Cameron also worked with the league's front office as a software engineer. Through all of it, he has maintained a deep passion for how people relate to their bodies and hopes that his work can help people get a little closer to arete — fulfillment through the mind, body, and soul. About Core: Core enables fitness instructors to launch, scale, and grow their business. To do this, Core provides a one-stop-shop for content and client management that powers the instructor's own branded experience across iOS, Android, and web. You set the prices. You own the content. You own the customers. It's your business powered by Core. Learn more: https://www.core.fitness/ More from Fitt Insider Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, Apple, Peloton, Goldman Sachs, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co

Today I'm joined by Randy Hetrick — the Founder and CEO of TRX. In today's episode, we discuss Randy's journey from Navy SEAL to inventing the TRX suspension trainer. The company's "triple threat" of innovative products, professional education, and fitness content. And why Randy believes TRX represents a more accessible approach to exercise than more expensive connective fitness options. About Randy Randy Hetrick is the founder and CEO of TRX Training, one of the world's leading fitness brands. After graduating from USC, Randy attended BUD/S and began a 14-year career as a Navy SEAL. He completed multiple deployments, and his operational career culminated as a Squadron Commander of the SEAL's elite special missions unit where he was tasked with leading the nation's most crucial special operations missions. While on one deployment in Southeast Asia, Randy created the Suspension Trainer®–perhaps the most prolific piece of exercise equipment in history and later the first TRX product. In addition to his role at TRX, Randy is also an investor and advisor to early-stage businesses, a speaker to organizations around the world, and a regular lecturer on leadership and entrepreneurship at his alma maters (USC & Stanford). More from Fitt Insider Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, Apple, Peloton, Goldman Sachs, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co

Today I'm joined by Jason Baptiste, CEO of STUDIO. STUDIO is a smart hub for your home gym. In this episode, we discuss STUDIO's transition from a fitness app to connected hardware. How digital fitness companies can build community online. Business model innovation in the fitness industry. And whether or not gyms will go the way of movie theatres and arcades. More from Jason Jason is the CEO and co-founder of STUDIO, the smart hub for your home gym. STUDIO is the one immersive screen that connects to all your home gym equipment to take fitness classes from instructors you love with a community that uplifts you. STUDIO is financially backed by investors including Huami (NYSE:HMI), the world's largest wearable maker, and LifeFitness, the world's largest manufacturer of commercial fitness equipment. Prior to STUDIO, Jason was the CEO and founder of Onswipe, the world's largest mobile publishing platform, before it was acquired in 2014. Jason is also the author of "The Ultralight Startup", a book on entrepreneurship professionally published by Penguin Random House. Jason has also been recognized by Forbes and Inc. as a 30 under 30 CEO. STUDIO, the smart hub for your home gym, is the one immersive screen that connects to all your home gym equipment to take fitness classes from instructors you love with a community that uplifts you. STUDIO is financially backed by investors including Huami (NYSE:HMI), the world's largest wearable maker, and LifeFitness, the world's largest manufacturer of commercial fitness equipment. STUDIO was founded by Jason L. Baptiste and Nathaniel McNamara and is headquartered in New York City. Learn more: https://www.trystudio.com/ More from Fitt Insider Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry.

Today I'm joined by Lionel Conacher — Managing Partner at Next Ventures. Next Ventures is a venture capital firm investing in companies focused on human optimization across sports, fitness, and wellness. In this episode, we talk about how Lionel teamed up with Lance Armstrong to start the firm. Emerging opportunities in hydration, AI, and skin sensors. And why companies like Apple, Amazon, and Google are entering the health and fitness space. More on Lionel Lionel Conacher is a life-long multi-sport athlete and outdoorsman and proud member of Canada's first family of sport. His financial experience spans senior positions in public companies in both Canada and the US, investment banking, and most recently private equity. He understands what it takes to create a highly successful start-up having co-founded Westwind Partners Inc., a specialized Canadian institutional investment bank. As Chief Executive Officer, Lionel grew Westwind to $100 million in revenues over 5 years after which it was sold to Thomas Weisel Partners (TWP) for $145 million. Post-sale Lionel served as President of TWP until the sale of TWP to Stifel Financial in 2010. For 7 years prior to co-founding NEXT VENTŪRES, Lionel was a Senior Advisor and Operating Partner at Palo Alto based private equity firm, Altamont Capital Partners, LLC. He currently sits on the boards AMP Human Inc., Kinetyx™ and DXL Group (NASDAQ: DXLG). Lionel is also actively involved in various non-profits including serving as a Trustee of SFMOMA, Council for Canadian American Relations and Surf Canada. More from Fitt Insider Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, Apple, Peloton, Goldman Sachs, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co

Today I'm joined by Keith Nowak, CEO of Ten Thousand. Ten Thousand is an athletic apparel brand for men. In this episode, we talk about how Keith's athletic background and experience working venture capital inspired him to start the company. His laser focus on building an industry-defining brand for guys. And how they've managed to grow quickly while also achieving profitability. More from Keith Keith Nowak is the co-founder and CEO of the New York-based men's activewear brand, Ten Thousand. Prior to launching Ten Thousand in early 2017, Keith spent three years leading Seed and Series A investing for a family office into over 50 companies across consumer, software, healthcare, and digital media, including early investments in Everlane, Warby Parker, and Classpass. Before that, Keith founded and co-founded a number of early-stage tech startups. Outside of the office, Keith is passionate about fitness and spends his time training for marathons and Ironman triathlons, or in a CrossFit box. More from Fitt Insider Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, Apple, Peloton, Goldman Sachs, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co

Today I'm joined by Holly Maloney. Holly is the Managing Director at General Catalyst In this episode, we discuss Holly's focus on growth-stage investments in the fitness and wellness space, why General Catalyst led Tempo's $60M Series B, and Holly's "Management, Market, Model" framework for evaluating deals. Get to know Holly: Holly Maloney is a managing director at venture capital firm General Catalyst. She works with GC's Executives-in-Residence (XIRs) to create a new business or identify an existing growth- stage business to accelerate their trajectory and transform with them. Her portfolio of investments includes Allego, Teamworks, Tempo, The Predictive Index, and SonderMind. Prior to joining GC, Holly was a principal at Guidepost Growth Equity (FKA: North Bridge Growth Equity), working closely with companies such as WP Engine and Dyn [acquired by Oracle (NYSE: ORCL)]. Outside the office, Holly is very active (running, hiking, biking, exploring) and is a novice surfer. Holly received a BA in Economics from Bowdoin College. More from Fitt Insider Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, Apple, Peloton, Goldman Sachs, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co

Today I'm joined by Josh Augustin. Josh is the CTO of Tempo — a smart home gym that uses computer vision to track your form in real-time. In this episode, we discuss the company's origin story as a product designed to be used in the gym. How they pivoted to at-home fitness. The recent $60M funding round that valued the company at $250M. And the future of the connected fitness category. Get to know Josh: Josh Augustin is the Co-Founder and Chief Technology Officer of Tempo since 2014. Born and raised in the San Francisco Bay Area, Josh attended Columbia University where he received a Bachelor of Science in Computer Science. At Columbia, he worked as a researcher in the Robotics and Computer Graphics labs, studying robotic cloth perception and manipulation among other topics. In 2014, Josh was a software engineering intern at Pixar Animation Studios and was later accepted into startup accelerator Y-Combinator's prestigious Winter 2015 class along with his Co-Founder, Moawia Eldeeb. Josh was recently honored on Forbes' 30 under 30 list for Consumer Technology. More from Fitt Insider Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, Apple, Peloton, Goldman Sachs, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co

Today I'm joined by Mike Maser. Mike is the CEO of Big Sky Health, the company behind the fasting app Zero, Oak, a mindfulness app, and Less, an app for mindful drinking. In this episode, we discussed Mike's experience starting FitStar and selling it to Fitbit. How his personal battle with cancer led him to fasting and, ultimately, becoming CEO of Zero. And we talk about his plans to turn Big Sky Health into a platform for science-backed longevity products. About Mike Mike Maser is the CEO and founder of Big Sky Health, the parent company of wellness apps Zero, Less, and Oak. Formerly the CEO and co-founder of FitStar, and over 2 decades of executive leadership experience at companies including Electronic Arts, Digg, AOL, and Fitbit, Mike has rich experience in the tech and health startup spaces. His work at Big Sky Health blends this knowledge with a personal passion: helping people live longer, healthier lives. When Mike isn't helping millions of users on their wellness journeys, you can find him and his dog, Hank out on the trails in Big Sky, Montana." More from Fitt Insider >> Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, Apple, Peloton, Goldman Sachs, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co