In itnig’s Podcast #23 Bernat Farrero, CEO at itnig and Pau Fernández, CFO at itnig share their point of view on Gymforless’ exit. How did the company start, pivot, live the change of CEO and reach an agreement with Sodexo which lead to the sale of the startup last week.

At itnig every Friday we sit down to talk with interesting people whom we meet throughout the week and we make a podcast (in Spanish) out of our conversations. You can listen to it on iTunes, subscribe to our channel on Youtube or enjoy it through iVoox.

For this Podcast #24 dedicated to the story of Gymforless, Bernat Farrero, CEO at itnig, Pau Fernández, CFO at itnig, César Migueláñez, Product Director at Factorial, Roger Dobaño, Product Manager at Quipu and Bettina Gross, Talent Acquisition at itnig come together to talk about the beginning, the pivots and the exit of Gymforless.

https://upscri.be/5c88ff/

Gymforless started out as a flexible model on how to use gym, directed to final consumer offering fitness tracking. Instead of models like Freeletics or 8fit, whom we have previously spoken about here at itnig, Gymforless focussed its tracking on workouts at the gym.

Guillermo Libre started out with the project and from itnig we supported him in tech development and an initial investment. The work on the b2c segment was very intense and it cost us a lot in marketing and customer acquisition, bringing only small margins.

Transition from daily pass to club, membership

With this panorama, Guillermo made a first pivot from a Daily Pass (pay per use) model to a Club Pass (a subscription) model. It was a hard decision, we were scared leaving something behind that was working and it seemed like a dangerous move.

It’s hard to leave something that is working, even though it’s not your core business.

After all, this was a very important change and from the on the project had a new direction. We were adding more features like rewards to work on churn. However this was only the first of many changes the startup would go through.

Guillermo, founder of the project had to leave the project and move to Madrid. In most cases such a change of CEO in an initial phase is the end of the business. Not in Gymforless’ case. Guillermo knew Oriol, current CEO, from working together in the past and he joined Gymforless to lead the startup through the next adventures. Oriol had extensive experience in Sales and B2B.


Pivot to a new direction — going corporate

The next step for Gymforless was a change in its customer target base. We started acquiring companies and offer gym as benefit for employees. The companies were very receptive to offer these kind of benefits and we soon had a working model. Oriol’s experience in B2B Sales helped this pivot from consumer to corporate business tremendously.

This change made the relationships with the gyms easier as well. Gyms no longer saw us as a threat, or cannibalization of their customers.


Listen to our podcast to learn more about Gymforless’ beginning and exit story. Learn more in this Podcast in Spanish on our Youtube channel, listen to it on iTunes or enjoy it through iVoox and subscribe to our newsletter to stay always up to date.

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I.

Inauguration, WeWork problems & NDAs for friends

This is the Newsletter shared on the 9th of September. If you wish to receive newsletter faster, you can subscribe here: https://itnig.net/newsletter

Hi entrepreneur,

As you may know already, Itnig and Syra Coffee recently opened a venue in Poblenou offering office space, specialty coffee, and event space. We didn’t have time yet to celebrate it with you so we will inaugurate the space on Wednesday, September 18 at 7 pm. Entrepreneur, if you wish to come, send me an email at pablo@itnig.net.

Diving into this week’s startup stories, a couple of news from WeWork this time. The coworking company might be worth just half of its former $47B valuation increasing its instability, so after the scandal, it’s CEO has given $5.9M trademark payment back to WeWork.

Oh, and if you are the kind of person that tells everything over a beer, you may want to check out this Friend NDA generator. Quite handy.

– Itnig’s team

Podcast #105: From a corporate to a startup with Dan Kragt CEO at Quipu

In this week’s podcast, we interview Dan Kragt, current CEO at Quipu. Before joining the Barcelona-based startup, Dan was leading TMF, the largest administrative agency in the world.

Bernat and Oriol base their conversation with Dan on how a startup can benefit from that expertise at a corporate level and how someone with a corporate background can fit into a startup. Check out it out here!

This week’s podcast is brought to you by Curve, the one card that unifies all your debit and credit cards and removes foreign transaction fees from all of them. Sign up with code ITNIG to receive a free €5.
 

New funding for startups 

Random tech news Satellite Antenna on Twitter Twemoji 12.0

Events recommended 🎫

Work with us Vulcan Salute on Apple iOS 12.2

  • At Factorial, we are looking for a Payroll Specialist to join us radically changing the compensation management.

  • At Quipu, we are looking for a Marketing intern passionate about writing and willing to improve how companies run their businesses.

  • At Camaloon, we are looking for a BS Live Agent to help us retain clients and find new business opportunities.
Find out about more vacancies at itnig.net/jobs.