iFIT Health & Fitness (US) → Sweat (fitness app, from Kayla Itsines and Tobi Pearce)
completedUS-based iFIT Health & Fitness acquired Australian women's fitness app Sweat, then generating ~US$100m annual revenue from 450,000 paid subscribers. Initial press reports cited a headline value near US$400m, but iFIT's own later financial filings showed the actual maximum consideration was US$150 million. Itsines and Pearce bought the app back from iFIT in late 2023.
iFIT wanted to add a leading women's digital fitness subscription platform to its fitness ecosystem.
Itsines and Pearce sold to fund further growth and access iFIT's larger platform, though they later reacquired the business once it no longer fit iFIT's strategy.
Not applicable — Sweat is privately held.
Deal mechanics
Approximately US$37.5m cash, US$40m in iFIT stock, plus up to US$70m in deferred consideration tied to revenue targets (implying a maximum US$150m total, per iFIT's own later filings)