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SoulCycle
SoulCycle Inc. is a fitness company owned by Equinox Group which offers indoor cycling and spinning workout classes. It was founded in 2006, and has operations in the United States and the United Kingdom. In early 2020, before the COVID-19 pandemic, it operated 99 studios. The company is headquartered in the West Village in Manhattan, New York City.
Ruth Zukerman began teaching spin classes in Manhattan in 1996. In 2006, she introduced her clients Elizabeth Cutler, a real estate agent, and Julie Rice, a talent manager for Benny Medina's Handprint Entertainment, to each other over lunch, where the three women decided to start the brand that would become SoulCycle.
SoulCycle opened its first studio in 2006 on the Upper West Side in Manhattan, and later expanded to several other locations in Manhattan.
In 2009, Zukerman left SoulCycle. In 2010, with Jay Galuzzo and David Seldin, she founded Flywheel Sports, a competitor to SoulCycle.
In 2011, The Related Companies's Equinox Group acquired a majority stake in SoulCycle.
The studios originally featured a stationary Schwinn Bicycle Company bike with a chain drive typically used in the bigger gyms. In 2012, SoulCycle had Villency design a custom bike with a "split seat" model, designed to be more comfortable.
In 2015, Melanie Whelan was promoted from chief operating officer to chief executive officer. In 2016, Rice and Cutler stepped down from their roles as co-chief creative officers and sold their shares to Equinox for $90 million. As of 2016[update], Equinox owned 97% of the company.
In July 2015, SoulCycle filed to raise $100 million in an initial public offering at a valuation of around $900 million. The company paused the process in 2016. In a May 2018 filing with the U.S. Securities and Exchange Commission the IPO was cancelled, citing "market conditions."
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SoulCycle
SoulCycle Inc. is a fitness company owned by Equinox Group which offers indoor cycling and spinning workout classes. It was founded in 2006, and has operations in the United States and the United Kingdom. In early 2020, before the COVID-19 pandemic, it operated 99 studios. The company is headquartered in the West Village in Manhattan, New York City.
Ruth Zukerman began teaching spin classes in Manhattan in 1996. In 2006, she introduced her clients Elizabeth Cutler, a real estate agent, and Julie Rice, a talent manager for Benny Medina's Handprint Entertainment, to each other over lunch, where the three women decided to start the brand that would become SoulCycle.
SoulCycle opened its first studio in 2006 on the Upper West Side in Manhattan, and later expanded to several other locations in Manhattan.
In 2009, Zukerman left SoulCycle. In 2010, with Jay Galuzzo and David Seldin, she founded Flywheel Sports, a competitor to SoulCycle.
In 2011, The Related Companies's Equinox Group acquired a majority stake in SoulCycle.
The studios originally featured a stationary Schwinn Bicycle Company bike with a chain drive typically used in the bigger gyms. In 2012, SoulCycle had Villency design a custom bike with a "split seat" model, designed to be more comfortable.
In 2015, Melanie Whelan was promoted from chief operating officer to chief executive officer. In 2016, Rice and Cutler stepped down from their roles as co-chief creative officers and sold their shares to Equinox for $90 million. As of 2016[update], Equinox owned 97% of the company.
In July 2015, SoulCycle filed to raise $100 million in an initial public offering at a valuation of around $900 million. The company paused the process in 2016. In a May 2018 filing with the U.S. Securities and Exchange Commission the IPO was cancelled, citing "market conditions."