Kayla Itsines' $400million payday: Fitness mogul sells her popular exercise platform Sweat to US software giant - but she'll have to share the proceeds with former fiancé Tobi Pearce after their shock split
Kayla Itsines and her former fiancé Tobi Pearce have sold their global health and fitness empire, Sweat, for $400million.
According to The Courier Mail on Tuesday, the company was bought by US software giant iFIT Health & Fitness Inc., just six years after the couple established the popular app which has been downloaded more than 30 million times.
In 2020, the Sweat app generated a staggering $99.5million in revenue, with the US market responsible for $53.7million.
Despite the sale, the young millionaires will still lead the brand from Adelaide, where the business will retain its headquarters.
Kayla, 30, reflected on Sweat's humble beginnings following the announcement.
'I remember running one-on-one sessions in my parents’ backyard and them growing into bigger group sessions in the local park here in Adelaide,' the fitness mogul wrote on Instagram.
Sold: Kayla Itsines and her former fiancé Tobi Pearce have sold their global health and fitness empire, Sweat, for $400million. Both pictured
'Those sessions kept growing and growing and slowly we built up a community and then in 2015, we launched the Sweat app.'
'I’m so excited to start the next chapter in Sweat’s journey. As of today Sweat will be joining the iFit family of brands.'
Meanwhile, Tobi, 28, was equally enthused by the beginning of chapter two in their business relationship.
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'Kayla and I have had a very strong and long working relationship and this is the beginning of chapter two for both of us,' Tobi said of the sale.
'I'm very much looking forward to a bigger and better Sweat - our headquarters will remain in Adelaide and we have a second office in Melbourne and that will remain there as well.'
Cashing in: According to The Courier Mail on Tuesday, the company was bought by US giant iFIT Health & Fitness Inc., just six years after the couple established the popular app
Kayla confirmed her split from Tobi, who is the father of her two-year-old daughter, Arna Leia, in August last year.
The former couple, who were together for eight years, co-founded the Bikini Body Training Company after meeting in late 2012.
The popular brand went on to amass a following of more than 20 million fitness enthusiasts worldwide thanks to their workouts, app and ebooks.
Boss: Despite the sale, Kayla and Tobi will still lead the brand from Adelaide, where the business will retain its headquarters
They were named joint fifth on the Australian Financial Review's Young Rich List for 2018, making them the wealthiest self-made twenty-somethings in Australia.
That same year, Forbes estimated the then-couple's shared net worth to be $696million.
Their fitness programs help people transform their bodies and achieve dramatic weight loss at the gym or from home.
At the time of their separation, Kayla said in a statement that she and Tobi would remain friends and business partners.
Memories: Kayla reflected on Sweat's humble beginnings on Instagram, following the announcement. 'I remember running one-on-one sessions in my parents’ backyard and them growing into bigger group sessions in the local park here in Adelaide,' she wrote
Happier times: In February 2019, Tobi surprised Kayla with an engagement party
'After eight years together, Tobi and I have come to the difficult decision to separate as a couple. We will always be family, and remain good friends and devoted parents to Arna,' she said at the time.
'We have grown up together in Adelaide, sharing a lifetime of experiences and special memories from moving into our first apartment and starting Sweat from our lounge room to becoming parents to our beautiful daughter.
'Our friendship remains strong as we parent Arna together and run Sweat as business partners. Thank you for your support and kindness during this time.'
The way they were: The former couple welcomed daughter Arna Leia in April 2019
