Headspace raised $93 million in debt and equity as the Santa Monica-based mindfulness company aims to fend off competition from rivals like Calm by growing globally as it pursues ambitious plans to launch the first FDA-approved meditation app.
The company, which is riding the wave of wellness as everyone from Wall Street traders to school teachers embrace meditation for health, announced Wednesday that it will pump funds into their direct-to-consumer business, where revenue has doubled year-over-year from 2017 to 2019.
Peloton may not have killed spin classes, but there's a wave of tech-powered fitness companies trying to lure Americans away from the gym.
One of the latest, Century City-based FitOn, is betting that making sought-after celebrity trainers accessible through an at-home fitness program can convince the time-stretched and coach potatoes to sweat.
The Upfront Summit heads into its second day on Thursday. But, there's still a bit of buzz from an unlikely speaker who closed out last night's roster of keynotes -- a surprisingly shy Paris Hilton, who said she was intimidated speaking to a room of hundreds of investors.
"I'm very nervous up here," she said. "I'm used to being at Tomorrowland or Ibiza with a thousand people dancing. Everyone is so serious here."