Kayla Itsines and Tobi Pearce have sensationally bought back Sweat, the fitness app they founded in 2015 and sold at the height of the pandemic in a $US150 million deal.
The Adelaide-based founders are believed to have bought Sweat for a fraction of what US-based iFIT Health & Fitness paid for it in July 2021, when many physical gyms around Australia and the world were shut due to COVID-19 restrictions.
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Michael Bailey writes on arts and culture, and edits Weekend Fin. He is a former editor of the Financial Review Rich List. He is based in Sydney. Connect with Michael on Twitter. Email Michael at m.bailey@nine.com.au