ClassPass-owner Playlist, EGYM to merge in deal backed by Jared Kushner's firm

Group 1 - The merger between Playlist, the owner of the gym booking app ClassPass, and fitness-tech firm EGYM is valued at $7.5 billion, with equity funding of $785 million led by Affinity Partners [1][2] - The fresh equity funding will facilitate investment in artificial intelligence and support EGYM's expansion into Playlist's core markets, particularly North America and Asia [2] - The wellness spending in the United States is estimated to exceed $500 billion annually, growing at a rate of 4% to 5% each year, with Gen Z and millennials accounting for over 41% of this expenditure [3] Group 2 - The combined net revenue of Playlist and EGYM is projected to exceed $800 million by 2025 [3] - Post-merger, Playlist's brands, including Mindbody, Booker, and ClassPass, will continue to operate normally, while EGYM will function as a subsidiary within the Playlist portfolio [4]