Want more from Front Office Sports
in your search results?
Hydrow is in talks with Sandbridge X2 Corp. to go public via SPAC, which would reportedly value the company at more than $1 billion.
Hydrow sells connected fitness rowing machines for $2,199, competing with the likes Peloton, Mirror, and Tonal. It raised $25 million last year and more than $20 million the year before in investment rounds led by L Catterton, a LVMH-backed private equity firm that is also in talks to go public.
The four-year-old company’s sales jumped by 400% during the pandemic and continue to accelerate, according to Hydrow CEO and founder Bruce Smith.
It’s not the only at-home fitness brand prepared to go public.
- Echelon Fitness is reportedly exploring strategic options, including a public listing, that could value the company at over $1 billion.
- iFIT Health & Fitness, formerly ICON, announced it would acquire Sweat, an online fitness training platform, for around $300 million ahead of an IPO in the fall.
- Beachbody, SPAC Forest Road Acquisition, and Max Fitness were granted shareholder approval in June to merge, valuing the combined entity at $2.9 billion.
Hydrow also sells heart-rate monitors, yoga accessories, headphones, and more, and named Kevin Hart as its creative director in October.
