Pandemic Darlings The pandemic economy, in original documents
Home Profiles Mindbody

Profiles · Companies and entities

ProfileCompany or group

Mindbody

Other company

PPP
Type
Company or group
Role
Other company
Programs
PPP
Updated

The profile

Mindbody, whose software books and bills gyms, studios, salons and spas, laid off or furloughed 700 employees, 35 percent of its staff, in spring 2020, when nearly 95 percent of its customers were closed. It sent those customers to a PPP application portal run with Lendio; SBA's data list no PPP loan to a borrower named Mindbody. In 2021 it agreed to buy ClassPass.

  • Category: fitness and wellness software
  • Pandemic layoffs: 700 employees laid off or furloughed, about 35% of staff (Layoffs.fyi, April 2020)
  • Last updated: 2026-11-01

In the archive

Founders, executives and investors

Rick Stollmeyer was chief executive in 2020; Mindbody's COVID-19 resources page pointed customers to "this letter from our CEO Rick Stollmeyer." By October 2021 the CEO was Josh McCarter.

Vista Equity Partners was Mindbody's "majority investor and partner" when the company agreed to buy ClassPass in 2021, and a group led by Sixth Street committed $500 million alongside that deal. Fritz Lanman, ClassPass's chief executive, was to become president of ClassPass and Mindbody Marketplace at closing. By January 2026 he was CEO of Playlist, the parent brand of Mindbody, Booker and ClassPass.

Business before the pandemic

Mindbody is based in San Luis Obispo, California. Fitness studios, salons, spas and integrative health centers use its integrated software and payments platform "to run, market, and grow their businesses," and consumers use its app to find and book them. TechCrunch called it "a bit like the OpenTable of the fitness world."

What the pandemic did to the business

Layoffs.fyi's roundup of April 6, 2020 recorded that "nearly 95% of their customers are closed due to shelter-at-home orders."

Mindbody's 2021 account of its own pandemic lists three product changes: "a fully integrated virtual platform that set business owners up for success in a hybrid world," expanded marketing-automation tools, and Mindbody Capital, a financing product for small business owners.

Pandemic-relief role: a PPP portal for customers

Its COVID-19 financial-resources page told customers: "We've partnered with Lendio to provide small businesses a portal to easily apply for the Paycheck Protection Program (PPP)." The same page gathered SBA disaster-loan information, private grant programs such as Facebook's $100 million in cash grants and ad credits and Amazon's $5 million Neighborhood Small Business Relief Fund, and Kiva's 0% loans of up to $15,000.

SBA's PPP loan data list no loan to a borrower named Mindbody.

Layoffs

Layoffs.fyi's April 6, 2020 roundup recorded that Mindbody had laid off or furloughed 700 employees, 35 percent of its staff. How Mindbody handled layoffs →

After the first shock

On October 13, 2021, Mindbody agreed to acquire ClassPass, the class-subscription marketplace TechCrunch said was most recently valued at $1 billion, in an all-stock deal at an undisclosed price. The release said bookings on Mindbody were "rebounding to pre-COVID levels" in several fully reopened markets and that ClassPass subscribers who had returned to class were using it at 110% of pre-COVID levels; both are the companies' figures.

Where the company is now

Mindbody is part of Playlist, which also owns Booker and ClassPass. Playlist and the German fitness-technology company EGYM announced a merger agreement on January 15, 2026, with $785 million in new equity led by Affinity Partners (Vista Equity Partners, Temasek and L Catterton participating) and a combined enterprise value of $7.5 billion. The two said they had generated more than $800 million in net revenue in 2025. Athletech News reported the deal closed on March 31, 2026. The Mindbody, Booker and ClassPass brands continue to operate, and EGYM runs as a subsidiary within Playlist.

Sources

Back to top