Global AI in healthcare market expected to rise to $164B by 2030
The market size for 2023 was $10.31 billion
Read more...It looks like the anemic IPO market is heating up. Only a few days after wearable device manufacturer Fitbit filed to go public, it is about to be joined by another company is an adjoining space.
Mindbody, a studio management software for fitness studios, including yoga, pilates, personal training, dance, martial arts, spas and salons, filed it's S-1 with the Securities and Exchange Commission on Monday.
The company set its price at $100 million, and revealed that it will list as "MB," though it did not mention under which exchange.
Mindbody is cloud-based software provider in the health, wellness and beauty industries. The company makes it money off of businesses, which pay a monthly fee to use the software, with plans starting at $30 for solo practitioners, and going as high as $145 per month for larger businesses. Features include the ability for customers to book online, the ability for the business to sell goods online, tracking staff hourly pay, loyalty rewards programs and automated e-mail notifications,
"We believe millions of wellness businesses around the world are looking for a simple, efficient and reliable way to manage their operations. Through our integrated cloud-based business management software and payments platform, we enable businesses to easily manage class and appointment schedules, staff members, client information, online bookings, inventory, payroll and retail sales – all in a cost-effective manner," the company wrote in the filing.
:At the same time, we connect consumers with local businesses through our MINDBODY Connect platform, which powers a mobile interface that allows consumers to discover, evaluate, book and pay for wellness services, whether they are near their homes or traveling."
Mindbody currently has 42,000 local business subscribers on it platform in 124 countries and territories employing over 250,000 practitioners.
In 2014, the company saw $70 million in revenue, up 44% from $48.7 million in 2013. In the three months ending in March of this year, revenue was $22.3 million, a 42% increase year-to-year.
At the same time, though, Mindbody is also seeing increasing net losses. For the full year 2014, its net loss was $24.6 million, up from $16.2 million in 2013, and $5.5 million in 2012.
The majority of its losses are coming from sales and marketing, which ate $30.9 million alone last year, while general administrative costs were $18.4 million and research and development cost $16.1 million.
Founded in 2001, Mindbody has raised around $109 million in funding, most recently a $50 million roundin February of 2014.
Investors in the company including Bessemer Venture Partners, Institutional Venture Partners, Catalyst Investors, W Capital Partners, Wavemaker Partners and Montreux Equity Partners.
The 2015 IPO landscape
With 34 IPOs raising $5.4 billion, the first quarter of 2015 turned out to be the least active quarter by IPO count since the first quarter of 2013, and the smallest by proceeds raised since the third quarter of 2011. To compare: the first quarter of 2014 saw 64 deals, and $10.6 billion raised. The only major tech IPO of the first quarter was cloud storage company Box.
Things seem to be turning around this quarter, though, with GoDaddy and Etsy both going public, along with Fitbit, e-commerce site Shopify also filing, and now Mindbody.
(Image source: mindbodyonline.com)
The market size for 2023 was $10.31 billion
Read more...At Culture, Religion & Tech, take II in Miami on October 29, 2024
Read more...The company will use the funding to broaden the scope of its AI, including new administrative tasks
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