In the second half of this year, sports technology company Keep completed a $127 million Series D financing led by Goldman Sachs, with participation from Tencent, GGV Jiyuan Capital, Morningside Capital, and old shareholders of Bertelsmann Asia Investment Fund. Previously, Keep had completed five rounds of financing, with a total financing of 60 million US dollars, and the last round was Tencent's C+ round of financing. So far, Keep has become the company with the largest single financing amount and the highest valuation in the Internet fitness field. Founded in 2014, Keep aimed at Xiaobai fitness users at the beginning, and quickly became a star company with free courses and easy-to-use products. fitness training.
Later, it launched a sports mall and began to business email list transform into a mobile fitness platform. Later, it was based on sports functions and added running/yoga/walking/cycling. and other functional modules to further expand the sports market segment. On March 21 this year, Keepland, the first physical store of Keep offline, officially opened to the public, and began to try to realize the flow of traffic from online to offline. Today, the Keep platform has become a sports application service integrating fitness teaching, running, cycling, socializing, fitness and diet guidance, equipment purchase, and offline stores. Through the sale of courses, sports equipment, sports goods, membership services, online Profit through paid teaching and other methods. 2.2
Background of Sports and Fitness Industry With the further improvement of people's fitness awareness and the further maturity of the gym business model, my country's fitness industry has developed rapidly. In 2016, the General Administration of Sports and the State Council respectively promulgated the 13th Five-Year Plan for Sports Development and the National Fitness Plan (2016-2020), proposing that by 2020, the number of people who participate in physical exercise once or more every week will reach 700 million, and they will participate regularly. The number of people doing physical exercise has reached 435 million, and the total scale of sports consumption has reached 1.5 trillion yuan. The goal is to make national fitness a national business card.