Quick Summary: With the fall of Peloton, the opportunities for starting your own digital fitness and wellness platform are stacking up.
Once valued at a whopping $50 billion, the online wellness & fitness giant lost over $42 billion and is now valued at just $8 billion.
Meaning, Peloton has just made a market space worth $42 billion for you.
But the question is, how to capitalize on this fresh opportunity with wellness app development service.
Before we along with our healthcare IT expertise come to your rescue, let us share a very interesting Twitter thread.
Last year, Peloton was a $50 billion sexy fitness brand.
Now, it’s an $8 billion company desperately trying to stay alive.
How did this happen? Time for a sad story👇
— Shreyans Singh (@shreyans512) February 11, 2022
What is a digital wellbeing app?
Wellbeing is anything which is good for people. It generally deals with both physical and mental goodness. So, anything which enhances physical and mental goodness must come under wellbeing.
However, people generally get confused between fitness and wellbeing. In a true sense, fitness is one of the dimensions of wellbeing as fitness is part of physical goodness.
Talking about a wellbeing app, it is a medium to bring you physical and mental goodness using cutting-edge technologies. For example, it helps you meditate, perform workouts, balance your nutrition, manage your sleep cycle and consult with a therapist or coach.
In a more specific meaning, a digital wellbeing app is a digital solution or platform which suggests both physical and mental goodness activities to the users and helps them to record & track their progress through a comprehensive dashboard.
How does a wellness app help users?
Before planning to go for wellness app development service to build wellness app, you must understand its benefits which you can use in business model as value proportions.
About Wellbeats – a very successful digital wellbeing platform (recently acquired by LifeSpeak)
Based in Minneapolis and founded in 2008, Wellbeats is a 360-degree digital wellbeing platform equipped with virtual fitness, mindfulness and nutrition modules.
The best part of the Wellbeats platform is that it is designed and built for all – workplaces, schools, universities, families, fitness centers and even for militaries.
In addition to this, its 1000+ online sessions have been crafted with ultimate precision for all age groups, interests and ability levels.
To access these 1000+ online sessions around fitness, mental health and nutrition, users have three options – Wellbeats iOS app, Android app and web app.
Recently – as per official reports – LifeSpeak which is a Canadian wellness company acquired Wellbeats for up to $117.9 million CAD ($92.5 million USD). This acquisition would help LifeSpeak to introduce cross-selling opportunities.
To whom Wellbeats serves with its digital wellbeing platform
Wellbeats has introduced a very profitable business model by bringing several core players of the industry to its target audience. For instance,
Is it profitable to build a digital wellbeing app like Wellbeats with wellness app development service?
In the introduction of the blog, we already gave you a reason to build a digital wellbeing app with wellness app development service, especially after the fall of Peloton. But we know, that’s not enough to clear your doubts. So, let us share some other facts.
Top common and advanced features you must include in your digital wellbeing platform
Feature set drives user experience as well as app development budget. Thus, let us help you filter out or select only those features which make sense for your users.
How can we help you build wellness app like Wellbeats?
This is our 17-steps wellness app development process we put in use to deliver extraordinary results.