Despite selling Ipass her successful training website Sweat to a US software firm, fitness star Lisa Ling will have to split the revenues with her ex-fiance, Tobi Pearce, following their shocking split.
For $400 million, Kayla Itsines and her ex-fianc Tobi Pearce have sold their global health and fitness enterprise, Sweat, to a group of investors.
According to a report published on Tuesday by The Courier-Mail, the company was purchased by US software giant iFIT Health & Fitness Inc., only six years after the couple founded the successful app, which has been downloaded more than 30 million times.
Sweat app is expected to produce a whopping $99.5 million in income in 2020, with the US market accounting for $53.7 million.
However, despite the sale, the young millionaires will continue to oversee the company from Adelaide, where the company’s headquarters will remain in place.
Immediately following the announcement, Kayla, 30, pondered on Sweat’s humble origins.
Sweat, the global health and fitness enterprise founded by Kayla Itsines and her former fianc Tobi Pearce, sold for $400 million. Both recall starting out with one-on-one sessions in my parents’ backyard and progressing to larger group sessions at the local park here in Adelaide,’ the fitness mogul wrote on Instagram of his early years.
That community grew and grew as a result of those sessions, and in 2015, we developed the Sweat mobile application.’
I’m beyond thrilled to be embarking on the next chapter in Sweat’s saga. Sweat will officially become a member of the iFit family of businesses today.’
By the beginning of chapter two in their working relationship, Tobi, 28 years old, was equally enthused as his partner.
‘Kayla and I have had a solid and lengthy working relationship, and this is the beginning of chapter two for both of us,’ Tobi remarked regarding the selling of the business.
We will keep our headquarters in Adelaide, and we will maintain a second office in Melbourne, where we already have a staff of about 50 people.
On Tuesday, the company was purchased by the US powerhouse iFIT Health & Fitness Inc., only six years after the pair founded the famous app.
On Tuesday, the company was purchased by the US powerhouse iFIT Health & Fitness Inc., only six years after the pair founded the famous app.
In August of last year, Kayla announced her separation from Tobi, the father of her two-year-old daughter, Arna Leia. Tobi is the father of Arna Leia.
After meeting in late 2012, the former couple, who had been together for eight years, decided to co-found the Bikini Body Training Company.
Because of their exercises, app, and ebooks, the well-known brand has amassed a worldwide following of more than 20 million fitness enthusiasts.
Kayla explained after the sale that the sessions “continued expanding and increasing” and that “slowly we built up a community.” In 2015, she and her team created the Sweat app.
Kayla explained after the sale that the sessions “continued expanding and increasing” and that “slowly we built up a community.” In 2015, she and her team created the Sweat app.
According to their estimation, they were ranked joint fifth on the Australian Financial Review’s Young Rich List for 2018, making them the wealthiest self-made twenty-somethings in the country.
Forbes magazine published an estimate of the couple’s combined net worth in the same year, $696 million.
Their workout regimens assist people in transforming their bodies and achieving rapid weight loss, whether they are at the gym or home.
Kayla stated in a statement at the time of their separation that she and Tobi would continue to be friends and business partners.
Despite the sale, Kayla and Tobi will continue to oversee the brand from Adelaide, where the company’s headquarters will remain in place.
After eight years of marriage for Tobi and me, the agonizing choice to separate as a couple came about. She said, “We will always be family and will stay excellent friends and loving parents to Arna.”
From moving into our first apartment and beginning Sweat from our living room to becoming parents to our lovely daughter, we have had a lifetime of events and beautiful memories with one other in Adelaide.’
Our friendship has remained strong as we parent Arna together and run Sweat as business partners. ‘Thank you so much for your kindness and support during this difficult time.’
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