San Diego’s fitness app startup Lymber Wellness has been acquired by MindBody, a company that makes online booking software for the wellness industry.
Financial details were not disclosed, but Lymber’s co-founder and CEO, Doug Hecht, said the acquisition is prompting MindBody to put roots down in San Diego. Both Hecht and co-founder Chuck Phillips are joining MindBody’s leadership. Hecht will serve as the company’s senior vice president of consumer products, and Phillips will serve as vice president of software engineering. The company’s six employees are now MindBody employees, keeping their office in San Diego. Hecht said MindBody actually plans to hire 20 more people in San Diego by the end of this year.
MindBody is a public company with a market cap of over $1 billion. The company has a sizable presence throughout the fitness industry. Gyms and fitness studios, for example, use the company’s software on their own websites. The web tools let their customers view schedules, book classes, and pay directly through the gym or studio’s website.
Lymber has technology that MindBody could use. Lymber’s tech allows business owners to set dynamic pricing for classes and appointments, meaning the prices change based on things such as availability, popularity, and time of day (like the airline industry).
“The Lymber team has created a breakthrough technology addressing the holy grail of our industry – yield management,” said Rick Stollmeyer, MindBody’s CEO and co-founder, in a statement. “By embedding this technology into our business software, consumer apps and the MindBody Network, we intend to enable our subscribers to better achieve their business goals by more effectively selling the millions of available classes and appointments they offer each day.”