dot.LA Dives In: A Conversation with Amira Polack, Founder and CEO of Struct Club
Before the pandemic, the fitness industry was booming. Then coronavirus forced the closure of gyms and boutique studios, and Struct Club took advantage of the moment to allow instructors to reach consumers directly.
In this installment of dot.LA Dives In, Kelly talks to Amira Polack, founder and CEO of Struct Club, a mobile app that provides instructors with software that simplifies planning and coaching a class.
Side gigging as a spin instructor while she received her MBA, Amira found herself spending hours prepping for her classes, where she was not only expected to play the role of instructor, but also DJ, choreographer, exercise scientist and motivational speaker. Struct Club was born.
Built on the idea that music helps improve fitness class attendees' performance and enjoyment, Struct Club not only allows fitness choreographers — or "pack leaders" — to create unique classes, but ensures attendees are maximizing their workouts.
In this conversation, Kelly and Amira dive into how Struct Club pivoted its business model during the pandemic, the challenges of raising money as a female and minority founder, and what trends are impacting the fitness industry.
Watch the full interview here:
dot.LA Dives In: Fitness App Founder & CEO Amira Polack www.youtube.com
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Prescription discount GoodRX shares skyrocketed more than 50% in its Wall Street debut on Wednesday. Shares started trading under the symbol "GDRX" at an IPO pricing of $33 each but quickly rose, at one point reaching $49.51 per share.
GoodRX is the first Los Angeles tech company to go public this year and follows a wave of other tech companies that have recently gone public, including Unity and Snowflake.
Co-founded by former Facebook executive Doug Hirsch in 2011, the Santa Monica company makes money by collecting fees from pharmacy benefits managers.
The popular app provides comparison drug pricing at different pharmacies, breaking down what is often a murky market. Hirsch told dot.LA in an interview earlier this year that the idea came to him when, on a whim, he began comparing drug prices at local pharmacies and found pharmacists could not explain the difference.
Over recent years, GoodRx has boasted steady growth. The company earned $54 million in profit for the first six months ending in June, up from $31 million over the same time last year, a 74% increase. It has $697 million in debt as of June 30.
Last year, GoodRx expanded into telehealth with HeyDoctor. While patients have flocked to the new service during the pandemic, the division is less profitable than the prescription side of the business.
- GoodRx is looking to go public: Reuters - dot.LA ›
- GoodRx To Enter NASDAQ as GDRX - dot.LA ›
- GoodRx Files for IPO - dot.LA ›
- L.A.-based Artie, which began in 2018 as a platform to help game publishers build AI-enhanced video game characters but shifted its focus to enabling a distribution method that allows game publishers to circumvent app stores, has reopened its seed round.
- The company plans to go to market later this year with celebrity and IP partnerships, then start attracting third-party game publishers and players to its platform with its distribution technology. In the long run it hopes to grow its user base with its original focus of AI-for-gaming features.
- Artie has raised $8 million from investors, including the founders of Zynga, Shutterstock and YouTube; Warner Music Group; Jeffrey Katzenberg's WndrCo; and three L.A.-based venture firms including Scooter Braun's Raised In Space.
In late 2018, Ryan Horrigan and Armando Kirwin set out to bring to life video game characters who could see and understand and interact with the gamers on the other side of the screen. They quickly recognized a problem that has now taken the tech world by storm: App stores create friction.
GOAT began as an online sneaker reseller, but the startup's on a meteoric rise having just landed another $100 million investment round. That gives it a $1.75 billion valuation, sources familiar with the transaction said.
Launched five years ago by college friends to "authenticate" used AirJordans and other collectible shoes sought by sneakerheads, GOAT is positioning itself to be a global luxury shoe and apparel retailer as the brick-and-mortar model falls into decline.
- GOAT, Wag Labs Are Among Andreessen Horowitz's Top 100 Startups ›
- GOAT Uses NBA Playoffs to Launch Brand Campaign - dot.LA ›