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Rowing startup Hydrow acquires a majority stake in Speede Fitness as their CEO steps down

Posted on AllSides May 9th, 2024
From The Center

Hydrow, the at-home rowing machine, announced Thursday that it has acquired a majority stake in Speede Fitness, the company behind the AI-enabled strength training machine. The rowing startup also announced that CEO and founder Bruce Smith will step down, and President and CFO John Stellato will take over day-to-day operations, per CNBC. Smith is now the chairman of Hydrow’s board. Hydrow declined to share how much of a majority stake it now has in Speed Fitness. It’s possible that the company may acquire the remainder of Speede, but it is...

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