YogaWorks

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YogaWorks
IndustryYoga
Founded1987; 35 years ago (1987)
FoundersMaty Ezraty and Chuck Miller
Headquarters
Culver City, California, U.S.
,
United States
ServicesYoga as therapy

YogaWorks offered yoga as therapy, teacher trainings, and sold yoga pants and accessories. In 2020, the company filed bankruptcy and sold its assets.

History[]

Yogaworks was founded by two yoga teachers, Maty Ezraty and Chuck Miller. By 2008, the company had 21 yoga studios.[1]

In 2014, the company, which then had 29 yoga studios, was purchased by Great Hill Partners for $45 million.[2]

In 2016, the company's studios had 3 million student visits.[3]

In August 2017, the company became a public company via an initial public offering. At that time, it had 50 studios.[3]

In November 2017, the company had 66 yoga studios in eight U.S. markets: Los Angeles, Orange County (California), New York City, Northern California, Boston, Baltimore/Washington D.C., Atlanta, and Houston.[4]

In October 2019, Rosanna McCollough resigned as CEO of the company and Vance Chang resigned as CFO. Brian Cooper was appointed CEO.[5]

On November 18, 2019, YogaWorks New York teachers voted 'yes' by an overwhelming majority to unionize,[6][7][8][9] an initiative that was supported by Bernie Sanders,[10] Chuck Schumer,[11] and Elizabeth Warren.[12]

In October 2020, the company filed bankruptcy and closed all of its studios.[13][14]

Its assets were purchased by GoDigital Media Group for $9.6 million.[15]

References[]

  1. ^ Duxbury, Sarah (October 31, 2008). "Yoga Stretches Into the Bay Area". American City Business Journals.
  2. ^ "YogaWorks Acquired by Private Equity Firm". EZFacility. July 25, 2014.
  3. ^ a b "YogaWorks, Inc. Announces Pricing of Initial Public Offering" (Press release). Globe Newswire. August 10, 2017.
  4. ^ "YogaWorks Acquires Four Premier Studios in Atlanta". Globe Newswire. November 14, 2017.
  5. ^ "FORM 8-K". U.S. Securities and Exchange Commission. October 4, 2019.
  6. ^ Unionize Yoga (November 18, 2019). "YogaWorks New York teachers voted YES to come together as a union!". Instagram. Archived from the original on 2021-12-26.
  7. ^ Moynihan, Colin (September 11, 2019). "The Yoga Instructors vs. the Private Equity Firm". The New York Times.
  8. ^ Jones, Sarah (September 12, 2019). "Yoga Teachers Are Unionizing to Heal the Wellness Industry". The Cut / New York Magazine.
  9. ^ Pfeiffer, Sacha (October 12, 2019). "Yoga Instructors Are Unionizing". NPR.
  10. ^ Sanders, Bernie. "Workers of all backgrounds are standing up for their rights. That includes yoga teachers, who are facing down shameful anti-union propaganda from their Wall Street owners. This is exactly the kind of energy we need to rebuild the middle class. Sanders". Twitter.
  11. ^ Unionize Yoga (September 11, 2019). "Thank you @chuckschumer for your support!". Instagram. Archived from the original on 2021-12-26.
  12. ^ Unionize Yoga (September 16, 2019). "Elizabeth Warren supports @unionize_yoga!". Instagram. Archived from the original on 2021-12-26.
  13. ^ DiMartino, Mediha (October 19, 2020). "YogaWorks Files for Bankruptcy". Los Angeles Business Journal.
  14. ^ Rice, Andrea (October 15, 2020). "YogaWorks Files for Bankruptcy, as Yoga Industry "Brought to Its Knees". Yoga Journal.
  15. ^ "YogaWorks, Inc., a Delaware C-Corporation – Court Approves $9.6mn ($7.3mn Cash Consideration) Asset Sale to MEP Capital/GoDigital Entity The YW Company - Daily Bankrupt Company Updates". Bankrupt Company News. December 28, 2020.
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