![]() ![]() In March 2023, the company changed its name to BODi. Ī three-way merger between Forest Road Acquisition Corp, Myx Fitness Holdings and Beachbody was entered into in February 2021, which valued the new business combination at $2.9 billion. The terms of the deal were not disclosed, James and Schwarzenegger remained minority stakeholders. The company acquired LeBron James and Arnold Schwarzenegger's Ladder, which develops nutritional products to help athletes with severe cramping after James had issues in the 2014 NBA Finals. In 2018, Congdon co-founded a personalized nutrition programming and tracking app with " FaceTime for fitness" live group classes called Openfit. It was alleged that Beachbody was charging its customers’ credit cards on an automatic, recurring basis without the required written consent of those customers. In 2017, Beachbody agreed to pay $3.6 million to settle a lawsuit from the city of Santa Monica over automatic credit card renewals. īetween June and November 2017, advertising watchdog organization Truth in Advertising found that Beachbody distributors were making false and unsubstantiated income claims to promote the company's business opportunity. The platform gained popularity early in the COVID-19 pandemic with more than half a million new subscribers at that time. The company announced that it was developing an OTT streaming platform in 2015 that would function similar to Netflix containing all of its exercise workouts previously available on DVD. In 2007, customers began selling workout DVDs. ![]() It was heavily marketed through infomercials and celebrity endorsements. It consists of a training program that uses cross-training and periodization, combined with a nutrition and dietary supplement plan. In 2005, P90X, or Power 90 Extreme, was created by Tony Horton as a commercial home exercise regimen and developed as a successor to the program called "Power 90". The founders received $500,000 in angel investing, developed a series of workout videos and bought the website. Daikeler was previously in informercials for Lifeline Gym and :08 Min Abs in the 1990s. ( February 2021)īeachbody was founded in 1998 by Carl Daikeler and Jon Congdon in Santa Monica, California. Please help update this article to reflect recent events or newly available information.
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