The 44-year-old former Yankees player has been out of the spotlight for pretty much the entire duration of his retirement. Most of that time has supposedly been spent investing in real estate and fitness ventures such as UFC-branded gyms In Florida.
The latest addition to his portfolio is something completely foreign to his current endeavors and had made quite a ripple in the fitness industry. He has raised funding for a relatively young app – FitPlan.
First Round of Funding
The app was launched by current CEO and co-founder Landon Hamilton together with Cam Speck, and has not received any outside funding since its launch in 2016. The two founders reportedly approached Rodriguez after noticing he had been specifically following fitness personalities online for a while.
A few months of back and forth between the two parties eventually culminated in a $4.5 million investment by Corazon Capital and A-Rod himself. Most of this money is expected to go towards hiring new fitness trainers for the app.
Opportunity for Growth
The stars involvement with the platform might be a catalyst for growth, as they have since been able to recruit big names like Ryan Lochte, Sommer Ray, Danny Bell, Corey Calliet and Hattie Boyd.
With a combined total of over a billion followers, the new move is expected to give the company a huge boost in terms of growth. In the words of Speck, all this host of talent is going to really set it apart from other fitness apps.
Whereas others tend to consist of animations or even simply voice instructions on how to do various forms of exercise, FitPlan is meant to be a personal step-by-step experience for all its users. Besides, the company also seeks to rebrand itself as a sports-centric fitness platform rather than a host for simple fitness routines.
Exercises on the app are meant to be split into categories depending on the kind of sport the user is involved in. This classification is part of the company’s push to get an entirely unexplored potential user base into adopting the app. Rather than attracting people in the early stages of exercise, it’s seeking out people that want to improve their workout routines, as taught by professionals in the field, Rodriguez himself included.
Increasing Platform Diversity
It currently costs $15.99 per month to be part of the FitPlan community, discounted to $83.99 a year. It boasts of over 5 million completed workouts, spread over a user base of undisclosed proportions. What we do know, however, is that the average FitPlan user does 2.7 workouts let week, each of these lasting an average of 58 minutes.
As it stands, most of the demographic is women (70%) aged between 18-35. Looking at the current line-up of instructors, it shouldn’t be surprising why.
Two of the most-watched people include Kim Kardashian’s personal trainer Melissa Alcantara and social media influencer Amanda Cerny. The appointment of new instructors is meant to accomplish a total shift in the gender focus and bring down the disparity a notch.