ClassPass sent an email this morning that raised its members heart rates faster than the most intense CrossFit session: It’s raising its prices by a lot.
Customers of its monthly unlimited package in New York will soon have to pay $200, a whopping $75 hike over the current $125. That’s even more of staggering of an increase when you consider in 2013, when the company launched, the same package cost just $99.
ClassPass is a startup that lets people in more than 30 cities around the world take workout classes without having a membership. If used cleverly, it can be a good deal for those who don’t want to commit to a gym. However, some members have complained about having their spots cancelled at the last minute, and non-members complain that gyms have gotten overcrowded because of ClassPass’ popularity.
That could change if the price hike is applied across the board and ClassPass ceases to be decent deal. Customers, unsurprisingly angry about the news, have been giving their fingers a workout on Twitter:
— Christina Crisostomo (@christina_jean) April 27, 2016
— Diana Tsui (@chupsterette) April 27, 2016
I wonder who will be the new startup to disrupt fitness industry, prices are out of control, @classpass got greedy once dominating mkt.
— Jeff Gabel (@JeffGabel) April 18, 2016
— Lesley Hauler (@LesleyHauler) April 27, 2016
I’ve never been more upset…… Thanks @classpass
— Cassie Claybaugh (@cassclay9) April 27, 2016
ClassPass explained in a statement that the price was hiked to “create long-term sustainability” with gyms and members. The startup has been valued as a $400 million company, raking in $60 million in revenue last year. But the company is still private, and it’s unclear if it’s still making money at a pace to please its investors.
The hike is giving its rivals an opening to steal some of its customers, as seen here in this retweet from budget gym Blink Fitness:
.@blinkfitness is clean, well-run, body-positive & $15/month. FIFTEEN DOLLARS. All the weights you can lift and mills you can tread.
— Danielle Bukowski (@dani_bukie) April 27, 2016
Who would’ve thought that an Equinox membership would someday look like a bargain.
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