In 1998, Jon Congdon and Carl Daikeler joined forces to create Beachbody. Their brainchild was the product of a deep understanding of consumers at the time. The pair saw that gym popularity signified a focus on health and wellness, but not everyone enjoyed or could afford the gym experience. To address the gap in the marketplace, Beachbody started selling individual workout DVDs to consumers. Whether they work out in their basement, their living room or somewhere else, those customers could watch the same video repeatedly until the disc wore out. In addition to having a fitness video product line, the company offered Shakeology. The Shakeology beverages continue to be a popular meal replacement option today, and their unique blend of nutrients improves wellness and raises energy levels.
However, as the internet increased in popularity, consumers were no longer satisfied with the same workout video. They craved variety, and Beachbody was happy to oblige. At the time it transitioned into a streaming content service provider, it had more than 1,500 programs in its library. These were all mounted behind the paywall. For a small monthly rate, consumers could tap into any of those programs they desired. Workouts today cover everything from strength training and kickboxing to yoga, kids’ workouts and more.
This major shift in focus to meet changing needs caught the attention of Kevin Mayer, who is now a multi-million-dollar investor in the company. This attention and the company’s strong bottom line also fed into its move to go public. This move occurred recently using the BODY ticker sign. Between all of its product lines, the company’s value stands at $2 billion.
The company strives to make a difference in the world in more ways than one. Through the Beachbody Foundation, it has collected and allocated millions of dollars to organizations like the Lakota Nation, Save-A-Warrior, the NAACP and more. Carl Daikeler is one of the donors, and he has given $10 million of his own money to the foundation to date.