Mindbody offers spas and salons retention and marketing tools; for highest-tiered subscribers, the company provides custom mobile apps as well.
Related: MindBody Meets Gupshup’s Chatbots
Booker is also behind the automated software for wellness companies Frederick. The $150 million price is six times the subscriptions and payments revenue Booker collected in 2017 ($25 million) but is “a smarter deal than the lofty price-to-revenue multiple suggests,” the article states.
The deal will expand the number of salons and spas Mindbody has access to by more than 10,000. On its Q4 report, the company stated that it closed the year with 58,584 subscribers, down 3% from the previous years. Revenues still increased, however, by 30% for Q4, driven by a surge in average monthly revenue per subscriber (up 31%).