*By Chloe Aiello*
Fitness and beauty booking tool Mindbody is planning to make a play for the next big thing in wellness ー on-demand video, CEO Rick Stollmeyer told Cheddar on Thursday.
"You can expect us to be playing in that space, because we think that the on-demand and streaming video revolution hitting the fitness space is a big breakthrough," Stollmeyer said.
Mindbody ($MB) is a technology platform for beauty and wellness companies that provides cloud-based booking, payment, marketing, and business management software. It supports thousands of clients, like PureBarre, ClassPass, and CorePower Yoga, and boasts millions of registered users.
Many of Mindbody's customers are already offering on-demand videos of fitness classes that allow buffs to take them whenever and wherever they want.
"What these \[brands\] are reporting back to us and what we are seeing is that actually it is causing far more accretion of additional people into these businesses than it is cannibalizing them away to stay at home," he added.
Rather than opt out of in-person classes, fitness class patrons are using them to supplement their practice or ease their way into a new type of workout.
"Being able to access this content on-demand from the comfort of my living room means that I can take classes when it's more convenient perhaps. And perhaps for some people who aren't yet ready to go into that class live, \[they\] can experience what it's like, get comfortable with the notion of it, and then they'll convert into customers at the brick-and-mortar locations," Stollmeyer said.
The CEO wouldn't say when the company plans on launching an on-demand service, but he did say the company is "deeply interested" and the platform is "perfectly positioned for it."
His comments come hot on the heels of [the company's announcement](https://www.mindbodyonline.com/company/press/mindbody-enters-into-definitive-agreement-to-be-acquired-by-vista-equity-partners-for) in late December it had entered a definitive agreement with Vista Equity to be acquired for $1.9 billion. The deal would take the company private about 3.5 years after [its 2015 Nasdaq debut](https://www.nasdaq.com/article/mindbody-mb-goes-public-stock-closes-below-ipo-price-stocks-in-the-news-cm488973).
"What we see happening with Vista, these folks have some amazing best practices, they can help us further improve our operations ... they know how to create value, so we see this as a win-win for everyone involved, and most importantly for our customers," Stollmeyer said.
The transaction is expected to close in early 2019.
For full interview [click here](https://cheddar.com/videos/mindbody-keeps-your-business-model-in-tip-top-shape).
We're a week into the Olympics and by now most viewers have noticed that Ralph Lauren, Nike and Under Armour are the official sponsors of Team USA gear. Joining The Long and The Short to discuss the benefits of outfitting Team USA is Nick Martell and Jack Kramer, Co-Founders & Co-CEOs of MarketSnacks.
Dwyane Wade made headlines for his recent trade from the Cleveland Cavaliers back to the Miami Heat, but the NBA star is also busy with a film that hits close to home. Alyssa Julya Smith caught up with the basketball player at a screening of his new film "Shot in the Dark," which he acted as executive producer alongside fellow Chicago-born star Chance the Rapper.
Billionaire Tom Steyer is putting his personal fortune behind an effort to get President Trump out of office. Special counsel Robert Mueller has indicted 13 Russian nationals and three Russian entities for allegedly meddling in the 2016 presidential election. Coinbase users took to social media and Reddit to complain about glitches on the platform. Coinbase says the root of the problem is credit card processing managed by Visa. But, Visa says they didn't cause the problem.
The NBA star says, "Anytime I can give any word of advice, anytime I can be a role model to anybody, I try to be there because I know who I was, and I know what it took and how many people it took to help me get to the point of success."
Your Future Home: Housing trends and tips with Quicken Loans. On Between Bells: "Black Panther" finally hits theaters. plus, a night of near misses for Team USA at the Winter Olympics. We're joined by FHM, Citi, LiveScience, and more.
At this year's Winter Olympics, young stars are making big statements across a number of events. Mikaela Shiffrin, 22, took home gold in the giant slalom last night - setting up a big showdown between Shiffrin and skiing legend Lindsey Vonn in the downhill race later this week.
NBA All-Star Weekend is here. The League's best will go head to head in a number of contests, but with injuries plaguing many of the NBA's top players, will people still tune in?
Angela Ruggiero, Olympic gold medalist and CEO and co-founder of Sports Innovation Lab, joins Cheddar live from PyeongChang, South Korea to share her thoughts on the first week of the Olympics. She also discusses the technology she's been seeing at the games.
Amazon surpassed Microsoft in market cap. McDonald's is making its Happy Meals healthier. Washington D.C. reacts to the Florida high school massacre. Plus, we hear from an entrepreneur who started the first studio of its kind in the fitness industry.
The boxing trend is sweeping through the fitness industry. Box + Flow founder Liv Young joins Cheddar to discuss how she's breaking through the cluttered landscape by combining the sport with another popular workout: yoga.
