YogaWorks

Last updated
YogaWorks
Industry Yoga
Founded1987 (1987)
Founders Maty Ezraty and Chuck Miller
DefunctOctober 2020 (2020-10)
Headquarters
Culver City, California, U.S.
,
United States
Services Yoga as therapy
Yoga teacher training
Website yogaworks.com

YogaWorks was a company founded in 1987 in Culver City, California, that offered yoga as therapy class via streaming media, as well as yoga teacher training. In October 2020, the company filed bankruptcy, and by January 2021 it's assets were purchased by GoDigital Media Group.

Contents

History

The company was founded in 1987 by Maty Ezraty and Chuck Miller. In 2003, when it had two studios, it was acquired by Rob Wrubel and George Lichter, two former executives of Ask.com. [1] [2]

In August 2007, the company raised $13 million of financing in a funding round led by Highland Capital Partners.

By 2008, the company had 21 yoga studios. [3]

In July 2014, the company, which then had 29 yoga studios, was acquired by Great Hill Partners for $45.6 million from majority shareholder Highland Capital Partners. [4] [5]

In 2016, the company's studios had 3 million student visits. [6]

In August 2017, the company became a public company via an initial public offering. At that time, it had 50 studios. [6]

In November 2017, the company had 66 yoga studios in eight U.S. markets: Los Angeles, Orange County, California, New York City, Northern California, Boston, Baltimore/Washington D.C., Atlanta, and Houston. [7]

In October 2019, Rosanna McCollough resigned as CEO of the company and Vance Chang resigned as CFO. Brian Cooper was appointed CEO. [8]

In November 2019, YogaWorks teachers in New York voted by an overwhelming majority to unionize. [9] [10] [11]

In October 2020, during the COVID-19 pandemic, the company filed bankruptcy and closed all of its studios. [12] [13]

In January 2021, its assets were purchased by GoDigital Media Group for $9.6 million. [14] [15]

References

  1. ↑ MACGREGOR, HILARY E. (September 10, 2004). "Assuming the Profit Position" . Los Angeles Times .
  2. ↑ "Yoga's popularity in US attracts cash" . The Sydney Morning Herald . Reuters. April 13, 2006.
  3. ↑ Duxbury, Sarah (October 31, 2008). "Yoga Stretches Into the Bay Area" . American City Business Journals .
  4. ↑ Geller, Jessica (September 9, 2015). "YogaWorks aquires [sic] two Boston yoga studios to enter Mass" .
  5. ↑ "YogaWorks, Inc. Amendment No. 1 to FORM S-1". U.S. Securities and Exchange Commission.
  6. 1 2 "YogaWorks, Inc. Announces Pricing of Initial Public Offering" (Press release). Globe Newswire. August 10, 2017.
  7. ↑ "YogaWorks Acquires Four Premier Studios in Atlanta". Globe Newswire. November 14, 2017.
  8. ↑ "FORM 8-K". U.S. Securities and Exchange Commission. October 4, 2019.
  9. ↑ Moynihan, Colin (September 11, 2019). "The Yoga Instructors vs. the Private Equity Firm". The New York Times .
  10. ↑ Jones, Sarah (September 12, 2019). "Yoga Teachers Are Unionizing to Heal the Wellness Industry". New York .
  11. ↑ Pfeiffer, Sacha (October 12, 2019). "Yoga Instructors Are Unionizing". NPR .
  12. ↑ DiMartino, Mediha (October 19, 2020). "YogaWorks Files for Bankruptcy". Los Angeles Business Journal .
  13. ↑ Rice, Andrea (October 15, 2020). "YogaWorks Files for Bankruptcy, as Yoga Industry "Brought to Its Knees". Yoga Journal .
  14. ↑ Sherman, Alex (June 16, 2023). "Meet GoDigital, the happiness-obsessed company that wants to buy Vice Media". CNBC .
  15. ↑ "Force 10 Partners Steers Acquisition of YogaWorks in Section 363 Sale" (Press release). PR Newswire. January 11, 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.