Weight Watchers confirms Wello acquisition
Diet and health giant, Weight Watchers, has confirmed that it acquired Silicon Valley-based start-up Wello for an undisclosed sum during its quarterly conference call with analysts last week. The deal has been one that’s been doing the rumour rounds of late, but Weight Watchers execs have now confirmed that it’s part of an ongoing strategy to compete in the growing digital weight loss market.
Weight Watchers CTO, Dan Crowe, explained: “Earlier this month, we acquired Wello, a San Francisco-based start-up that offers one-on-one and group fitness training online delivered with leading-edge technology. Wello leverages technology to offer consumers the convenience of working out when and where they like, plus the motivation and accountability of a personal trainer. I am impressed with Wello’s talent, their technology and their platform for delivering personalized services, which is aligned with [our] personalisation agenda.”
Jim Chambers, CEO, said: “The competitive frame of the weight loss market continues to evolve as free apps and activity monitors generate significant consumer interest. The continued significant year-over-year declines reflect the fact that we are still facing serious challenges, especially in North America and the U.K., which saw declines in paid weeks, both in meetings and online. The strength of the Weight Watchers brand is and always will be in the human connections that make a weight loss journey successful between members and our service provider, between members and other members and between members and their social circles. Moving forward, we will be bringing this to the digital environment adding human interaction to the online model.”