Ethan Agarwal, CEO, Aaptiv. Photo by Cody Glenn/Collision via Sportsfile, licensed under Creative Commons

Aaptiv, a digital fitness startup backed by investors including Disney, Bose, and Amazon, is exploring strategic options including a sale, according to a report [paywall] from Bloomberg. According to Bloomberg, Aaptiv has hired a financial adviser after taking note of interest from potential acquirers. As a private company, Aaptiv has raised over $50 million in funding and was valued at $200 million by investors in 2018 (PitchBook data). The company’s current valuation isn’t known.

Aaptiv is a provider of digital fitness content to a community of over 200,000 members who have collectively streamed millions of classes on its platform. The company makes money by charging members a subscription fee. On Aaptiv’s platform currently lies over 2,500 audio-guided workouts and structured fitness programs for its members. It’s such that the New York-based company has likely seen a demand surge on the heels of a coronavirus pandemic that has widely shuttered in-person gyms across the US. Through the span of the pandemic, similar digital fitness companies have made good strides, including Mirror selling to Lululemon for $500 million, Peloton posting its strongest quarterly results ever, and Tonal raising $110 million. The digital fitness market seems hot now and with Aaptiv apparently seeking to capitalize on that.

Aaptiv was launched in 2016 by entrepreneur Ethan Agarwal. The company currently has more than 90 employees working from a single New York office. 

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