ClassPass Announces Asia-Transition Plans
Following recent announcements by ClassPass, the startup plans on launching in Singapore as part of its new transition towards Asia and expanding its services. The startup’s services permit users on the network to sign up and register for many workout and fitness classes in various gyms.
ClassPass states that it collaborates with over 10000 fitness instructors and partners over a massive operational base ranging to more than 50 cities around the world. While the company is based in the United States, its recent expansions have taken ClassPass to Canada, Britain, and Australia. As of now, ClassPass is seeking even further expansion and turning towards Asia.
ClassPass’ transition towards Asia has already been expected. In an interview, the company explained that its services would extend to three different locations within Asia. Given its common regulations, Singapore was the company’s most viable launching location in Asia. An additional aspect is Temasek, previously funded by ClassPass in 2017.
The company has not revealed any information regarding the other locations it plans to operate in although Hong Kong is another promising land of opportunity. No additional details regarding the set launch date of its Singapore operation have been released, although it will reportedly begin a few days before the country’s National Day on the 9th of August.
First of its kind
ClassPass was the first company to excel and create its fitness subscription framework despite competitors in Asia. Another company, native to Singapore and under the name of GuavaPass is operational in a dozen different locations throughout Asia and the Middle East. GuavaPass has raised five million dollars previously and another competitor under the name of KFit is also located in Asia.
KFit managed to gather over $15M during its funding and spread to more than 12 cities within Asia. The company then began shifting its operations towards subscriptions and deals that involve groups, through possibly acquiring the Groupon business within Asia.
Although still functional, KFit has seen a few setbacks due to the harsh business environment it operates it. ClassPass is also part of these issues, suffering a few price-related problems and its third funding round was said to see a drop in its value.