Porsche Ventures recently completed a minority investment in the mobile fitness marketplace Playbook. It was part of a financing round that closed this summer and was led by e.Ventures.
Playbook, aiming to be the Patreon of fitness content, is enabling top instructors in fitness and athletics to turn their content into subscription income. The app now features over 250 fitness instructors who have published a total of more than 40,000 workouts on the platform. It is continually adding new instructors and programs across a range of disciplines like yoga, meditation, pre- and postnatal sports, as well as personal training.
“This investment is a strong first step to explore a new market for Porsche”, said Stephan Baral, Head of Porsche Ventures Region US. “We are excited to partner with the Playbook team and to gain a deeper understanding of the sports ecosystem. Their focus on the creator experience and the early traction that Playbook has already seen to date convinced us to join forces.”
Playbook is the first app that puts content creation, distribution, audience building, and revenue generation directly in the hands of the trainers themselves; in some cases, creators have earned in excess of $1M per year on the Playbook platform. Co-founded in 2017 by Jeff Krahel, Michael Wojcieszek, and Kasper Odegaard, Playbook is headquartered in New York City.
To learn more about Playbook visit: playbookapp.io
About Porsche Ventures
Porsche Ventures engages with top entrepreneurs across the globe through its offices in Europe, Silicon Valley, Israel, and China. The CVC (Corporate Venture Capital) invests in companies that are in the early and growth phases, with a particular focus on customer experience, mobility and digital lifestyle, as well as in future technologies. Its portfolio companies enjoy access to a vast international network and to industry expertise through valuable collaboration opportunities across the Porsche ecosystem. Porsche Ventures is investing in founders who dare to build their dreams.
Other investments by Porsche Ventures in the U.S. include those made to Silicon Valley startup Miles, which rewards users for their personal transportation, and roadside assistance company Urgent.ly. Earlier this year, Porsche Ventures invested in DSP Concepts, which specializes in developing software for audio signal processing. Just recently, Porsche Ventures announced participation in the latest investment round for Rally, a platform for investing in rare and collectible assets.