Hydrow, maker of popular connected smart rowing machines, is reportedly in talks to buy Cityrow, its much smaller rival, “according to people with knowledge of the matter,” Bloomberg reports.
Hydrow’s history
Founded by Bruce Smith – former coach of the US National Team and former president of Chicago Union Rowing and Paddling – in 2017, Hydrow’s mission is “to bring whole health within grasp” of everyone, no matter their experience with rowing. Hydrow claims that a 20-minute session on one of their rowers will exercise 86% of muscles. Once a consumer purchases a Hydrow Rower or Hydrow Wave Rower along with a subscription, they are immersed within a community of rowers, workouts, and experiences.
Suffice it to say, Hydrow’s popularity has exploded since its inception six years ago, raising $300 million with investors, including Taylor Swift’s boyfriend and Kansas City Chief’s tight end, Travis Kelce, and singer/songwriters Lizzo and Justin Timberlake. Now, Hydrow is apparently exploring the possibility of acquiring their smaller connected rowing rival, Cityrow.
Big fish, small pond
Cityrow, founded in 2014 by Helaine Knapp, was the product of Knapp having suffered three herniated discs in her lower back, resulting in a need for lower-impact workouts. First starting out as an in-person rowing brick-and-mortar, Cityrow was also an early adopter when it came to the at-home connected workout model, something so many of us became acclimated to when the COVID-19 pandemic hit in 2020.
While Cityrow has remained successful over the years and has curried a loyal following, Hydrow is interested in its subscriber base.
Additional acquisitions
If the acquisition of Cityrow by Hydrow does, in fact, take effect, it won’t come as much of a surprise for those in the connected fitness world. Earlier this month, lululemon announced they would be stopping Mirror sales – an at-home personalized fitness experience – a decision made after their partnership with Peloton was made public.
Also earlier this month, it was reported that Interactive Strength, owner of FORME, is acquiring Clmbr. Inc., a vertical climber brand.
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