Before ClassPass settled on the business model it employs today, the service went through many different phases.
Founder Payal Kadakia revealed to Cheddar how she had to change up her strategy a handful of times before finally finding success.
“The third iteration was the subscription, and that’s really when it took off...and became ClassPass,” Kadakia told Cheddar.
The self-proclaimed “mission-obsessed” founder reflected on how the service started as a search engine for fitness classes, but one that didn’t offer a value proposition for users. From there, she tested out a discovery model where users could try different classes around New York City. But she says learned a lot from each of these versions.
“Always question what you’re doing and keep iterating and pivoting until you get to that North Star,” Kadakia said.
ClassPass launched in 2011. The service includes access to around 8,500 studios and is available to consumers in 49 cities.
For full interview, [click here](https://cheddar.com/videos/the-inspiration-behind-classpass).
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
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Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
Mortgage rates have dropped below 7% for the first time since the middle of August.
