What the $983 million Hyrox strategy can teach small businesses
The Beijing controversy is what people will remember this month, but its latest multi-million dollar deal is what’s really interesting.
Hyrox has had a couple of big weeks. A world record holder emptied her bowels all over herself mid-race in Beijing and kept going. Less well known, a few days earlier, the company reportedly changed hands for around US$700 million (AU$983 million), and the two founders came out owning more of it than before.
Last May, Jason Andrew assessed that Hyrox was doing around US$140 million (AU$197 million) in revenue from 650,000 participants across 83 events. According to Andrew’s estimate, gross margins were near 80%, largely because their event packs up and moves to the next city each week.
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