Fritz Lanman, CEO of ClassPass, shares his journey from ClassPass investor to Executive Chair to CEO and how he learned to love the role of CEO. Hosts Dylan Gambardella & Justin Lafazan, CoFounders & CEOs of Next Gen HQ, dive deeper to really learn how to make difficult decisions in the best interest of your mission and people. Fritz shares his perspective on bad advice given to entrepreneurs & encourages you to embrace the freedom to design your own life. SUBSCRIBE TO MOMENTUM NEWSLETTER: ✨https://nextgenhq.com/getmomentum CONNECT WITH NEXT GEN HQ 🚀Website - https://nextgenhq.com/ 🚀Instagram - https://instagram.com/nextgenhq 🚀Twitter - https://twitter.com/nextgenhq 🚀Facebook - https://facebook.com/nextgenhqofficial CONNECT WITH FRITZ 🤝 ClassPass Website- https://classpass.com/ 🤝 Twitter - @Fritzanity
ClassPass CEO Fritz Lanman on why ‘leading with transparency’ is good for business
Fritz Lanman is the CEO of ClassPass and a successful angel investor. In this episode, Fritz tells Eshaan how ‘leading through transparency’ has allowed ClassPass to face its most difficult challenges. Ninetwentynine is a Fiverr.com podcast.See acast.com/privacy for privacy and opt-out information.
Fritz Lanman: The Man Behind This $1 Billion Fitness Class Sensation
How We Made It In Ecommerce
Fritz Lanman is the CEO of ClassPass, one of the fastest growing online fitness startups. ClassPass recently joined the Unicorn Club after getting an valuation of one billion dollars. Lanman is also an angel investor in various successful startups such as Pinterest, Wish, and Square. We talked to him about the creation story of ClassPass, how he became the CEO, and the secrets to investing in companies that end up extremely successful.
2. Fritz Lanman: Managing a Unicorn Fitness Tech Company during a Pandemic
CorpDev.Ninja with Andreas Penna
Fritz Lanman is the CEO of ClassPass; the largest pre-IPO, health & fitness tech startup. He’s also a prolific Angel investor with investments in: Square, Pinterest, Wish, Flexport, Formlabs, etc… 100+ investments over the past decade! Fritz started his career @ Microsoft after getting his Bachelor’s degree in history from Yale. He rose through the ranks to become one of the youngest Directors in Microsoft history! He was the “go to guy” for many things Corporate Strategy and M&A and led the $240M Facebook ($FB) investment in 2007 when $FB was only worth $15B; that’s ~45X as of today! After Microsoft, Fritz founded and was CEO of Livestar, a mobile-based recommendation engine on food and culture that sold to Pinterest in 2013. I consider Fritz to be a preeminent Business Ninja in all things from Startups to investing. We explore his kernels of knowledge and wisdom. He would give Master Splinter a run for his cheese- COWABUNGA!--- Send in a voice message: https://anchor.fm/andreas-penna/messageSupport this podcast: https://anchor.fm/andreas-penna/support
Fitt Insider Podcast Notes Key Takeaways ClassPass is a monthly subscription membership where customers can spend virtual currency on a variety of fitness and wellness experiences, from a regular gym to cryotherapy to yoga, in fitness centers around the worldIt currently has a billion-dollar valuation with lots of growth indicating much more upside and secular trends pointing toward an increased focus on fitness and wellness“The industry desperately needs an aggregator. Most industries have an aggregator to help them fill excess capacity and I think the model we landed on is a really elegant one.” – Fritz LanmanThe effects of the coronavirus have been devastating to the fitness industry “We saw 95% of our gyms and studio partners having to close their locations down” – Fritz LanmanClassPass has operations in China, Singapore, and Hong Kong so they got their first taste of the coronavirus before most of the American fitness industry“We saw reservation volumes collapse and then rebound so we thought every Western government would what those countries, countries like Taiwan and Korea, are doing and just emulate those responses” – Fritz LanmanThe future of fitness will be a mix of both brick-and-mortar and digital in Fritz’s eyes“I don’t think there’s some structural shift that’s going to favor only digital versus offline. In fact, we’ve seen demand is incredibly resilient for offline, and probably more so after people have been locked up in quarantine.” – Fritz Lanman“There’s just nothing like the immersiveness of having that community, equipment, that intimate atmosphere, the camaraderie, and the instructor interaction” Read the full notes @ podcastnotes.orgToday I’m joined by Fritz Lanman the CEO of ClassPass. In this episode, we talk about why the company changed its business model and pricing over the years. The opportunity for growth in areas like corporate benefits, wellness experiences, and streaming workouts. What makes ClassPass worth $1B. And Fritz’s plan to take the company public. Let’s get into it. More from Fritz >> Fritz Lanman is the CEO of ClassPass and previously served as Executive Chairman. He has been involved with the company since 2013 when he led both the Seed and Series A financing. In addition to his role at ClassPass, he is an active angel investor who backed Square, Pinterest, Wish and several other companies. Before ClassPass, Fritz founded Livestar, Verst and Doppler Labs and worked in Product Management and Corporate Strategy at Microsoft. Website: https://classpass.com/ More from Fitt Insider >> Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, lululemon, Peloton, Beyond Meat, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co
Today I’m joined by Fritz Lanman the CEO of ClassPass. In this episode, we talk about why the company changed its business model and pricing over the years. The opportunity for growth in areas like corporate benefits, wellness experiences, and streaming workouts. What makes ClassPass worth $1B. And Fritz’s plan to take the company public. Let’s get into it. More from Fritz >> Fritz Lanman is the CEO of ClassPass and previously served as Executive Chairman. He has been involved with the company since 2013 when he led both the Seed and Series A financing. In addition to his role at ClassPass, he is an active angel investor who backed Square, Pinterest, Wish and several other companies. Before ClassPass, Fritz founded Livestar, Verst and Doppler Labs and worked in Product Management and Corporate Strategy at Microsoft. Website: https://classpass.com/ More from Fitt Insider >> Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, lululemon, Peloton, Beyond Meat, Nike, and ClassPass by subscribing. Website: http://insider.fitt.co
20VC: ClassPass CEO Fritz Lanman on Betting His Career Facebook Would Be A $10Bn Company, Lessons From Travis and Uber on Scaling A Global Marketplace & Whether Growth and Capital Efficiency Are Mutually Exclusive
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Fritz Lanman is the CEO @ ClassPass, the startup that provides the most flexible fitness membership ever. To date, they have raised over $154m in VC funding from the likes of Thrive, GV, CRV, Fifth Wall and Temasek just to name a few. As for Fritz, prior to ClassPass he was the Founder & CEO @ Livestar, a mobile recommendations startup that was acquired by Pinterest. Before that, he was a Senior Director in the Corporate Strategy Group @ Microsoft where he led several multi-billion dollar M&A evaluations and strategy projects including the Facebook investment and Yahoo deal. If that was not enough, Fritz is also a tremendously successful angel with a portfolio including the likes of Square, Pinterest, Wish, Flexport, Everlane and 75 or so more companies. In Today’s Episode You Will Learn: 1.) How Fritz made his way into the world of startups with Microsoft? How that led to angel investments in Wish, Flexport, Square and more? How he came to be CEO @ ClassPass? 2.) How did the $250m Microsoft investment in Facebook come about? What made Fritz so confident he told Steve Ballmer he was willing to bet his career it would be a $10Bn company? What was the decision-making process internally around that deal? 3.) How does Fritz assess his own asset allocation strategy? Why does Fritz not agree with thesis-driven angel investing? When starting angel investing, how did he approach portfolio construction? Why does Fritz believe it is immensely synergistic to be both an operator and angel? As a result, how does Fritz approach placing investors in a quadrant between helpfulness and high maintenance? 4.) Why does Fritz believe that your investor cannot be your recruiter? What have been Fritz biggest learnings on continuously attracting the best talent? Why does Fritz believe that it is BS that one should not celebrate fundraising? Ultimately, what does Fritz elieve fundraising signifies? 5.) ClassPass has expanded to 34 markets over the last few years, how does Fritz determine when is the right time to pour fuel on the fire? What are the 2 fundamental questions one must ask before you do? Does Fritz believe that aggressive growth and capital efficiency are mutually exclusive? How does Fritz think about capital efficiency with ClassPass today? Items Mentioned In Today’s Show: Fritz’s Fave Book: Endurance: Shackleton's Incredible Voyage to the Antarctic As always you can follow Harry, The Twenty Minute VC and Fritz on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC. The reality is that hiring amazing developers is hard. Terminal.io is your dedicated partner in rapidly standing up world-class remote technical teams. How do they deliver both speed and quality? Terminal does this by focusing on everything necessary to successfully source, setup, and support these teams – from physical elements like beautiful workspaces and equipment to ongoing resources like HR, payroll, legal, professional learning and development. But don’t take my word for this, take the word of Eventbrite, former 20VC guest Hims, and Dialpad – all customers and lovers of Terminal. You can find out more today at Terminal.io. Whether you’re starting your own small business or getting serious about making your small business more efficient, you need to invite FreshBooks to the table. FreshBooks makes cloud accounting software that’s so ridiculously easy to use and you’ll quickly understand why over 10 million people use it to radically streamline how they deal with their admin and paperwork. Plus, FreshBooks can handle a lot more than accounting related tasks. Using FreshBooks is kind of like having your own admin assistant who’s got your back, 24/7. To claim your 30-day unrestricted free trial, click here enter Twenty Minute VC in the “how did you hear about us section”. Highfive makes meetings better for thousands of organizations with insanely simple video conferencing designed for meeting rooms. It’s the easiest-to-use solution, with all-in-one hardware and intuitive cloud software. Plus, it’s a high-quality experience with industry-leading audio powered by Dolby Voice. It’s so easy to use, that there’s no pin codes or app downloads. Just click a link in your browser, and you’re in the meeting. With customers in over 100 countries, Highfive is already trusted by the likes of Evernote, Expensify, and Betterment and you can learn more by simply heading over to highfive.com.