DailyBurn, Formerly Gyminee Acquired By IAC

May 20, 2010

4:54 pm

Today Boulder-based startup DailyBurn, a fitness social network for detailed tracking, online accountability, and motivation, announced on its blog that a majority stake in the company was acquired by IAC’s MindSpeak Interactive Network. Here is the announcement:

Today we are very pleased to announce that we have joined forces with IAC to create a partnership that we believe will provide the resources needed to increase our position as the leading online destination for fitness. You can read more information about the announcement here and here.

DailyBurn got its start as a TechStars 2008 startup as Gyminee. Gyminee demoed at our second TECH cockail Boulder mixer event. I got a chance to meet the team and talk about their product at the event in the video (below).

After TechStars, DailyBurn was backed by some angel investors which included Garrett Camp (founder of StumbleUpon), Matt Mullenweg (founder of WordPress) and  Tim Ferriss (Author of Four Hour Work Week). I assume they all did well in the acquisition but terms of the deal were not disclosed. Congrats to the DailyBurn team and all the investors and mentors involved.

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Frank Gruber is the cofounder, CEO and Executive Editor of Tech.Co (formerly Tech Cocktail). He is the author of the book, Startup Mixology, Tech Cocktail’s Guide to Building, Growing, and Celebrating Startup Success. He is also a startup advisor and investor to startups. Find Frank Gruber online and follow him on Twitter at @FrankGruber.

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