There are plenty of CEOs-turned-investors, but few investors get quite as involved in their portfolio companies as Fritz Lanman.
Lucky for all of us, Lanman will be joining us on stage at TC Disrupt SF in September. We’ll discuss the changes going down at ClassPass over the last year, including the price hike, the elimination of the unlimited tier, and his appointment to CEO in place of Payal Kadakia.
Lanman, formerly the Senior Director of Corporate Strategy at Microsoft, began angel investing in 2010, getting in on deals for notable companies like Square, Pinterest, Wish, Everlane and more. He left Microsoft in 2012 to build Livestar, which sold to Pinterest in 2013.
Since then, Lanman has been walking the line between founder and investor with his companies Verst and Doppler Labs. Lanman was also instrumental in ClassPass’s pivot to its current business model after investing in the Series A.
Obviously, ClassPass’s success doesn’t come without some tough choices. The startup has raised more than $150 million in funding. But ClassPass also struggled to balance out its revenue streams before changing pricing, which ultimately cost the company 10 percent of its users.
As of November 2016, however, ClassPass was seeing a million reservations per month and balanced out margins at around 20 percent.
These are but a few of the many tough decisions the new ClassPass CEO has had to make alongside founder Payal Kadakia.