Zwift got off to a somewhat rocky start this year. In February, the Long Beach, California-based fitness app company, which lets users bike through virtual worlds in the comfort of their own homes for $20 a month, announced a round of layoffs, as well as the departure of co-CEO Kurt Beidler. That left co-founder and now sole CEO Eric Min, 57, to guide a leaner Zwift, which he says is currently in a “strong position to scale.”
It was a tough time for both the company and Min—but also an opportunity to prioritize what matters most. And the business has had no shortage of backers supporting its mission. Founded in 2014, Zwift has raised a total of $620 million from dozens of investors, including private equity firms Permira Holdings and KKR as well as Amazon’s Alexa Fund, which backs companies making smart devices for consumers. After seeing interest skyrocket during the pandemic, however, Zwift has struggled to maintain momentum, facing multiple rounds of layoffs as competitors such as Peloton and Tonal watched their valuations plummet. Now, Zwift is chasing new opportunities, which include the launch this past summer of its own indoor smart bike. Called the Zwift Ride and priced at $1,300, the product is a bid to lower the barrier to entry for consumers who are curious about indoor cycling.
Min, a cyclist himself, spoke with Inc. about rightsizing his company over the past year, and why entrepreneurs should make tough decisions fast.
Diese Geschichte stammt aus der Winter 2024/2025-Ausgabe von Inc..
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der Winter 2024/2025-Ausgabe von Inc..
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
2025 FEMALE FOUNDERS 500
THE PANDEMIC DROVE WOMEN OUT OF THE WORKFORCE THEN SPURRED AN ENTREPRENEURIAL EXPLOSION.
HOW TO SELL YOUR BUSINESS IN 2025
If you've been waiting to sell your business, this could be the year to get the deal done. Analysts expect mergers and acquisitions to pick up, especially given the Trump administration's promise of deregulation. So if you're considering selling now, here's what you need to know.
Marina Khidekel You can tap creative funding sources for your startup, but as these founders learned, it's hard work.
Raising capital can feel like a rite of passage for startup founders—a signal that your company is on the map.
UP IN THE AIR
HOW JSX FOUNDER ALEX WILCOX BROUGHT THE PRIVATE JET EXPERIENCE TO THE MASSES WHILE NAVIGATING STRAIGHT INTO A CLOUD OF FEDERAL REGULATIONS. AND WHY HIS RADICAL NEW WAY TO FLY COULD BE IN FOR A BUMPY RIDE.
She's Done With Al. Now Lucy Guo Is Making a Big Bet on People
Inside the Scale AI co-founder's plans to help influencers get paid, like, never-have-to-get-a-real-job kind of money.
Tory Burch Is Better Than Ever.but Don't Call It a Comeback
The fashion veteran's business is hitting its stride— and she says, at 58, she finally feels like a real designer.
ZONE OF CONCERN
Forever chemicals, or PFAS, are as pervasive as they are insidious, afflicting businesses ranging from hotels to breweries to coffee roasters. In taking on this huge problem, entrepreneur Dean Wiltse has found his calling—and an opportunity.
WE NEED TO TALK ABOUT KEVIN
HE DESIGNED THE INTERNET AS WE KNOW IT TODAY. SO WHY ISN'T HE IN THE PANTHEON OF SILICON VALLEY FOUNDERS?
SET AND ACHIEVE BIG GOALS
In her latest book, Big Goals: The Science of Setting Them, Achieving Them, and Creating Your Best Life, Caroline Adams Miller shares a methodology for psychology-backed goal setting.
10 WAYS TO GET BETTER AT SALES
Today's customers are overloaded and overwhelmed by too much information, so making any decision is a challenge.
