With recent funding and unicorn status, many are wondering when ClassPass is going to offer their Initial Public Offering and go public on the stock market. The fitness subscription service is certainly primed as they’ve been publicly talking about it for at least three years.
Well it might be a little longer until then — not a surprise considering the recent infusion of investment of $285 million coming through about a month ago. That and one of ClassPass’s early investor and curtrent chief executive, Fritz Lanman recently explained to a news source that ClassPass had no immediate plans for an initial public offering. However, he left the door slightly ajar by saying that an IPO was “on our radar.”
“We’re always thinking about what is the best way to finance the balance sheet and meet our priorities,” Lanman told Business Insider. “I feel like (IPOs) are great for shareholder liquidity. That’s ultimately our goal — will be to IPO. But I think it also brings a lot of scrutiny and short-termism.”
When it comes to going public, Lanman knows what he’s talking about with a portfolio of over 70 companies, some of them being highly-successful investments with big name exits that includes both Pinterest and Square. He’s waiting for the right time to add ClassPass to that list.