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.
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.
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.
Podcasts are a great way to discover new subjects and new people. Whether you are a tech lover or an entrepreneur, bellow you will discover podcasts for entrepreneurs you should – without a doubt – listen to.
« Masters of Scale »
with Reid Hoffman
The host:Reid Hoffman decides to turn to the corporate world instead of pursuing a university carrier. He worked for Apple, Fujitsu for then starting his own business: SocialNet and left it in 2000 to join Confinity. Confinity gives life to Paypal after fusionning. Finally, in 2003, Hoffman co-founds LinkedIn. He is Master of Scale’s host.
About: The podcast welcomes some of the greatest entrepreneurs. You will discover throughout the talk how they managed to take their companies from 0 to a lot of zeros. You can listen to Masters of Scale’s special guests like Mark Zuckerberg (Facebook), Selina Tobaccowalla (Evite), Brian Chesky (Airbnb) or Nancy Lublin (Crisis Text Line). Must-hear: one of the top tech podcasts for entrepreneurs.
with Christina Warren, Simone de Rochefort and Brianna Wu
The hosts: Christina Warren started as a Freelance Writer. Then, she worked at Mashable as a Senior Tech Analyst and Tech Correspondent and ended the journey at Microsoft as a Senior Cloud Developer Advocate. About Simone de Rochefort, she is Senior Video Producer and co-host of The Polygon Show. Brianna Wu founded her first startup at the age of 19, Giant Spacekat. She was Head of Development at the time. She is now running for US Congress.
About: In this podcast, you will discover three passionate women and their “geek conversation” as they like to call it. No guest speakers, but you will be able to listen to a panel of tech subjects from Apple to Comics, you will not be disappointed.
The host:Jason Calacanis starts as an internet industry journalist in New-York. In 2003, he co-founded Weblogs, Inc and then a few years later he joined Sequoia Capital, launched the web directory Mahalo. He also founded ThisWeekIn.com. Furthermore, he created This Week in Startups podcast and a startup named Inside.com. Finally, he was part of the creation of the Sydney Launch Festival.
About: Either you are looking to start your own company, or you are a successful entrepreneur, or you just love technology, this podcast will give you a peek to the entrepreneurship world. You will hear stories of all kinds! On his website, you will also find his events and some research on transportation, healthcare and more. This is one is part of the tech podcasts for entrepreneurs not to be missed.
The host:Kara Swisher is an American journalist specialized in the technology industry. She first started to work for an alternative newspaper in Washington for then working for the Washington Post. She wrote articles for the Wall Street Journal and New York Times and wrote her own books. Finally, in 2014, she created Recode, a website dedicated to the latest technology news. In 2015, she initiates Recode Decode.
About: The weekly podcast welcomes tech experts and great entrepreneurs. They review how they got there, what’s on their mind about the current industry and what they would improve or create. Her recent guests were Elon Musk (Tesla CEO), former Secretary of State Hillary Clinton and Mark Zuckerberg.
Listen to the podcast: Apple Podcasts, Google Podcasts, Spotify, Stitcher, and TuneIn
« K Fund PodKast »
with Jaime Novoa
The host: Jaime Novoa’s background is quite diverse. He is a writer and an investor, but he also worked in data analysis and social media analysis. In 2014, he founded Novobrief, a newsletter for startups. Then, in 2016, he becomes an investor at K Fund and he founds, in 2019, Dealflow, a weekly tech newsletter.
About: The podcast discusses startups, entrepreneurs and Venture Capital. You will discover enterprises and their story. From data science, unicorns or digital platforms, you sure will find more than one interesting podcast.
Listen to the podcast: On their website and Soundcloud
« Clockwise »
with Dan Moren and Mikah Sargent
The hosts:Dan Moren is an active author and writer as well as podcaster. He was a Senior Editor at Macworld. Today, he hosts two podcast shows: Clockwise and The Rebound. As for Mikah Sargent, he started as a Website Designer and Developer for then switching as a Senior Editor at Newsy. He now hosts few podcasts such as Clockwise on Replay FM or on TWiT.tv.
About: The weekly podcast discusses technology and welcomes each time 2 special guests. For 30 minutes, they address 4 topics where all four speakers get to elaborate on the matter, highlight the issues and expose their thoughts.
The host:Bernat Farrero starts his career as a Developer. In 2009, he founded Itnig, a startup ecosystem that organizes entrepreneurship events. They also have a coworking for startups, a podcast and a fund for early-stage projects. Furthermore, he is a Founder of Factorial, Quipu and Camaloon. He is also a Board Member of Playfullbet, GymForLess and Parkimeter. Finally, he hosts Itnig’s weekly Podcast.
About: The podcast welcomes every week a new guest. If you wish to learn from successful entrepreneurs, you are on the right platform. The discussions turn around Technology and its industry. You will come across guests like Carlos Pierre (Badi), Vincent Rosso (BlaBlaCar) or Oscar Pierre (Glovo).
You can subscribe to their newsletter if you want to receive the podcast’s link every Monday.
Whether you are at an early stage of your project, an investor or you are just curious, these podcasts for entrepreneurs give you the opportunity to be updated on tech and business news. Also, you get to learn from successful international entrepreneurs, which can definitely be very useful for your business.