Today, SoulCycle is a well-known chain of indoor cycling studios located across the country. But back in 2006, the first SoulCycle opened in a former dance studio off of a rear lobby in New York City, a location that the company’s co-founders, Elizabeth Cutler and Julie Rice, found on Craigslist.
On this episode of Middle Market Growth Conversations, Cutler describes how she and Rice built SoulCycle into a successful business, why she recommends the co-CEO management model, and what it felt like when they sold the company in 2015. She also talks about her role working with other founders at Dopamine Ventures, an organization she started after leaving SoulCycle, and shares the advice she gives entrepreneurs who are considering an exit.
“In 2006, we had to create not just a marketplace to put our product in, if you really think about it. We had to break open a sector.”
Cutler was a featured speaker during ACG’s annual InterGrowth conference, the preeminent gathering for middle-market M&A professionals. Next year’s event will be held in Las Vegas on April 20-22. Learn more at intergrowth.org.