Hardware Podcasts

SoulCycle: Julie Rice & Elizabeth Cutler (2019)

How I Built This · 19 Apr 2021 · 51m

What this episode covers

Julie Rice and Elizabeth Cutler, co-founders of Soul Cycle, explain how they identified a gap in the New York fitness market and launched their first studio in 2006 with $250,000 of personal capital. They detail their scrappy early strategies, including using IKEA furniture, a rickshaw for marketing, and designing their own apparel to build brand recognition. The founders discuss the challenges of scaling, securing funding during the 2008 financial crisis, and the pivotal decision to partner with Equinox in 2011 to expand nationally, eventually selling the company for $90 million each.

Most relevant to

founders before launch and companies scaling up

Topics

Mentioned

Companies
Equinox, Flywheel, Lehman Brothers, IKEA
Products
Soul Cycle

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