“And then we announced our Series A, our total million dollar round, and it was a great moment, and always in hindsight, I'm like, I don't know if I would have done that, because what it did is it spurred competition in every market.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Payal Kadakia
Insight
Kadakia: The fitness industry missed massive consumer demand for class variety
“That still is part of the core of what made ClassPass everything it is, is that people loved variety, and no one realized that. There was this market out there for dabblers when everyone was trying to push everyone to be, like, complete loyalists”
Payal KadakiaAug 2, 2023▶ 18:19How to price your product to scale (with Classpass' Payal Kadakia) | Masters of Scale
AssertionNot checkable as stated
Kadakia: Classtivity was profitable early on because it didn't pay studios
“We actually were 100% profitable, because we weren't paying the studios.”
Payal KadakiaAug 2, 2023▶ 21:38How to price your product to scale (with Classpass' Payal Kadakia) | Masters of Scale
AssertionNot checkable as stated
Kadakia: Classtivity generated only about 10 reservations a month at launch
“June of 2012, we launched Clastivity, finally opened to the public, we had thousands of classes listed, a beautiful design, and I would say we did about 10 reservations a month.”
Payal KadakiaAug 2, 2023▶ 9:56How to price your product to scale (with Classpass' Payal Kadakia) | Masters of Scale
Insight
Kadakia: ClassPass users churned when failing to hit arbitrary plan caps
“And we also started getting people who were sometimes churning saying, oh, I only went to eight. And I'm like, this is so interesting that people were, like, tying themselves to this number.”
Payal KadakiaAug 2, 2023▶ 26:09How to price your product to scale (with Classpass' Payal Kadakia) | Masters of Scale
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