Buzzy exercise startup Mirror agreed to sell to Lululemon, the yoga clothing brand, for $500 million today. Former ballerina Brynn Putnam founded New York City-based Mirror, which offers $1,495 interactive mirrors on which to take exercise classes at home. Mirror founder Brynn Putnam, as seen in our Forbes magazine feature on the startup Jamel toppin for ForbesFollowing the sale, Putnam will continue as Mirror’s CEO, reporting directly to Lululemon CEO Calvin McDonald. “As part of Lululemon, Mirror can further strengthen its position and accelerate its growth,” she said in a statement. With the acquisition valuing the company at $500 million, her stake is likely worth more than $130 million.
Source: Forbes June 29, 2020 20:48 UTC