Fitness startup Aaptiv Inc. is exploring options including a sale, according to people with knowledge of the matter.
The New York-based company has tapped an adviser after fielding inbound interest, said some of the people, who requested anonymity because the talks are private. The company is slated to turn a profit as of this month, said people familiar.
The company, founded by Ethan Agarwal, makes an audio fitness app that it describes on its website as “fresh-air friendly.” Its instructors guide users through running, cycling, yoga and other workouts. It was valued at $200 million as of June 2018, according to data provider PitchBook, and had raised $75.5 million as of April 2020 from investors including the Amazon Alexa Fund, Insight Partners, Walt Disney Co., Warner Music Group, 14W and Millennium Technology Value Partners.
The app’s users have collectively taken about 35 million classes, one of the people said.