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FIT TECH News

Hydrow cuts staff to "right-size the business"

By
Connected rowing company Hydrow is reducing its workforce by 35 per cent
Announcement comes four months after raising US$55m in Series D funding
CEO Bruce Smith said cuts will reduce operating costs which is necessary in light of “unprecedented economic circumstances”
Hydrow's celebrity backers include Justin Timberlake and Kevin Hart
In the wake of the unprecedented economic circumstances we’re collectively facing, Hydrow has made the incredibly difficult decision to conduct a reduction in its workforce, in an effort to right-size the business, Bruce Smith, founder and CEO, Hydrow
Credit: Hydrow
In the wake of the unprecedented economic circumstances we’re collectively facing, Hydrow has made the incredibly difficult decision to conduct a reduction in its workforce, in an effort to right-size the business
– Bruce Smith, founder and CEO, Hydrow

At-home rower maker Hydrow is one of the latest connected-fitness companies to announce staff cuts. The tech company which won celebrity backing from the likes of Justin Timberlake and actor Kevin Hart – who is also on board as creative director – confirmed it would be cutting 35 per cent of its workforce, just four months after raising US$55m in Series D funding.

The new capital was planned for investment in product innovation and scaling operations to meet with consumer demand, yet founder and CEO Bruce Smith has said that Hydrow has now reached a stage of growth and size that enables the company to make a “strategic choice for growth”.

“This decision involves a strategic shift in our workforce,” said Smith. “In the wake of the unprecedented economic circumstances we’re collectively facing, Hydrow has made the incredibly difficult decision to conduct a reduction in workforce, in an effort to right-size the business.

Three weeks ago, the company launched the Hydrow Wave, a lighter version of the original rower, both in weight and cost. Priced at US$1,495 it is US$1,000 cheaper than the Hydrow, which sells for US$2,495, and is also 30 per cent lighter due to its polycarbonate monocoque frame.

The connected rower has algorithm-controlled dynamic resistance, which creates a user experience the company says mimics rowing on the water. From 2020 to 2021 Hydrow claimed its revenue had multiplied by three during the twelve-month period and had more than 200,000 users.

Members can access around 4,000 live and on-demand workouts – many led by professional athletes, such as four-time Olympian Aquil Abdullah – which are designed to work 86 per cent of the body’s major muscle groups.

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The internationally-recognised sporting goods exhibition Sports and Fitness Taiwan (TaiSPO) will return on 22-25 March 2023. The event will be held at the Taipei Nangang Exhibition Center, Hall 2 (TaiNEX 2) and feature a full range of sporting goods, fitness equipment, sports technology, and workout services for all ages.
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FIT TECH News

Hydrow cuts staff to "right-size the business"

By
Connected rowing company Hydrow is reducing its workforce by 35 per cent
Announcement comes four months after raising US$55m in Series D funding
CEO Bruce Smith said cuts will reduce operating costs which is necessary in light of “unprecedented economic circumstances”
Hydrow's celebrity backers include Justin Timberlake and Kevin Hart
In the wake of the unprecedented economic circumstances we’re collectively facing, Hydrow has made the incredibly difficult decision to conduct a reduction in its workforce, in an effort to right-size the business, Bruce Smith, founder and CEO, Hydrow
Credit: Hydrow
In the wake of the unprecedented economic circumstances we’re collectively facing, Hydrow has made the incredibly difficult decision to conduct a reduction in its workforce, in an effort to right-size the business
– Bruce Smith, founder and CEO, Hydrow

At-home rower maker Hydrow is one of the latest connected-fitness companies to announce staff cuts. The tech company which won celebrity backing from the likes of Justin Timberlake and actor Kevin Hart – who is also on board as creative director – confirmed it would be cutting 35 per cent of its workforce, just four months after raising US$55m in Series D funding.

The new capital was planned for investment in product innovation and scaling operations to meet with consumer demand, yet founder and CEO Bruce Smith has said that Hydrow has now reached a stage of growth and size that enables the company to make a “strategic choice for growth”.

“This decision involves a strategic shift in our workforce,” said Smith. “In the wake of the unprecedented economic circumstances we’re collectively facing, Hydrow has made the incredibly difficult decision to conduct a reduction in workforce, in an effort to right-size the business.

Three weeks ago, the company launched the Hydrow Wave, a lighter version of the original rower, both in weight and cost. Priced at US$1,495 it is US$1,000 cheaper than the Hydrow, which sells for US$2,495, and is also 30 per cent lighter due to its polycarbonate monocoque frame.

The connected rower has algorithm-controlled dynamic resistance, which creates a user experience the company says mimics rowing on the water. From 2020 to 2021 Hydrow claimed its revenue had multiplied by three during the twelve-month period and had more than 200,000 users.

Members can access around 4,000 live and on-demand workouts – many led by professional athletes, such as four-time Olympian Aquil Abdullah – which are designed to work 86 per cent of the body’s major muscle groups.

More fit tech news
Longevity, a startup providing longevity products, services, education and advice to subscribers, has launched a digital platform and will open ...
news • 20 Jan 2023
All Trails, an app that connects people with hiking and running trails all over the world, has expanded its community ...
news • 20 Jan 2023
BHeart – a health-tracking wrist wearable with an “endless” battery – was unveiled by Baracoda at CMS 2023. The screenless ...
news • 18 Jan 2023
Movano Health showcased the Evie Ring, which is designed solely for women, at CES 2023 last week, ahead of launching ...
news • 16 Jan 2023
With the price of just about everything going up, we all need to look again at how we best spend ...
promotion • 12 Jan 2023
Athletes will be able to transform their hydration with Nix’s new Hydration Biosensor sweat patch. Having just launched on to ...
news • 11 Jan 2023
Fitness First’s annual Red Monday campaign, which ran across the UK on 16 January 2023, increased visits by a third ...
More HCM news
Wearable technology is 2023’s number one worldwide fitness trend according to the American College of Sports Medicine (ACSM), which has ...
news • 05 Jan 2023
Although Covid may no longer be a ‘significant’ threat to business, the connected fitness industry is still facing challenges. As ...
promotion • 05 Jan 2023
In 2021, Pulse Fitness added to its ever-growing portfolio of leisure industry services with the launch of TRAKK, its connected ...
promotion • 02 Jan 2023
Nike has partnered with Netflix to stream 30 hours of Nike Training Club (NTC) workouts across all territories in ten ...
news • 23 Dec 2022
Octonic has released the 2.0 iteration of its VR treadmill running experience, which is compatible with 99 per cent of ...
news • 22 Dec 2022
Garmin has released its Connect Fitness Report for 2022, which shows that users of its tech have returned to their ...
news • 21 Dec 2022
A new sleep mask, which can track eye movements, including REM, during sleep, will be launched by nanotechnology innovator Somalytics ...
news • 20 Dec 2022
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news • 19 Dec 2022
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news • 16 Dec 2022
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promotion • 06 Dec 2022
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More fit tech news