Connect with us

News

Report: Payal Kadakia out as Chief Executive of ClassPass

Published

on

Payal Kadakia has replaced herself as the chief executive of ClassPass, the company she founded three years ago.

SAN FRANCISCO (Diya TV) — Payal Kadakia, who founded fitness startup ClassPass and served as the company’s chief executive, has removed herself from the role, according to a report from Fortune.

She will assume the role as chairman of the company, Fritz Lanman, an investor in the company and current executive chairman, will slot in to fill the role.

According to the report, it’s really nothing but a title swap for the two executives. Lanman will take on more of the day-to-day operations of the fitness class booking company, while Kadakia will focus on product and design. This transition has been in the works for the last 15 months, the report said.

Lanman is an angel investor who led the the startup’s seed and Series A rounds, refers to himself as Kadakia’s “secret partner.” He’s built three companies himself, and was involved in the angel investing of companies such as Square, Pinterest and Wish. Kadakia reportedly reached out to Lanman last year for help when her business began scaling rapidly. It was around this time that Kadakia found herself focusing more on the business operations of ClassPass and less on product development.

Lanman, as a result, at the beginning of 2016, adopted a much more involved role with the company, overreaching from his normal duties as executive chairman. Lanman took such a hands-on approach that last summer, rumors began circulating that Kadakia had “effectively stopped being CEO,” and that company employees had been reporting to Lanman directly.

“I had started to take more of an operating role, and this was a title mismatch,” Lanman told Fortune on Thursday. “The CEO was supposed to be the operator, and the executive chairman was supposed to be the person handling more key strategic projects. So we just changed titles because we organically evolved to this place.”

Kadakia, who just last year was named to Fortune’s 40 Under 40 list, admitted it’s difficult for her to hand over the reigns of the company she founded. “[T]here’s really no other way I would ever make this decision if it wasn’t Fritz,” she told Fortune.

Since Lanman began co-operating ClassPass, the company has undergone quite a bit of change in a greater effort to focus on profitability. Lanman worked to reshape the company’s business model, discontinued one of their most popular products and increased membership prices. These changes to garner backlash from the company’s clients, but the duo of Lanman and Kadakia believe it’s what was necessary for the ClassPass bottom line.

Having already raised nearly $85 million in venture capital, the three-year-old company has reportedly generated more than $150 million in revenue as of September 2016. This year, ClassPass has launched two new features — a social component that allows users to see friends’ workout schedules and an option to frequent studios more than the previous limit of two or three times per month. These tweaks, Lanman says, have boosted subscriber growth to record levels in the first quarter of 2017.

News

Nikki Haley wont run, if Trump runs in 2024

Published

on

If Trump Runs In 2024, Haley Says She Will Not | Diya TV News

SOUTH CAROLINA (Diya TV) — Former US Ambassador to the United Nations and South Carolina Governor Nikki Haley says she will not make a run for the White House in 2024. But that’s only if Donald Trump decides to enter the Presidential race. Haley continues to be mentioned as a potential candidate for the Oval Office, but the Indian American’s public comments are being interpreted as an early endorsement for former President if Trump chooses to run again.

And more positive news for India’s economy. The International Monetary Fund says it’s projecting a 12 and half percent growth rate for the South Asian nation in 2021. That’s even stronger than what’s expected for China and America’s economy this year.

India is going through a historic tech boom for unicorn start ups. These are the companies valued at more than a billion dollars. In a span of four days, the country saw 6 tech unicorns emerge onto the scene. Startups like Groww, Gutshup, API Holdings, Mohalla Tech, Meesho, and Cred all reached valuations of a billion dollars or more. And that’s attracting some of the world’s largest investors like Softbank and Tiger Global.

Ravi Kapur contributed to this report.

Continue Reading

News

Indian American couple dead in apparent murder-suicide

Published

on

Indian American Couple Dead In Apparent Murder-suicide | Diya TV News

 North Arlington, NEW JERSEY (Diya TV) — Authorities in New Jersey are investigating a possible murder-suicide, saying Balaji Rudrawar stabbed his wife Aarti to death. Both were found dead in their home with multiple stab wounds. Their young daughter was found unharmed inside. The motive remains unclear. The man’s father told an India-based media outlet his daughter in law was 7 months pregnant.

In Indian waters, a US war ship sailed through India’s Exclusive Economic Zone without asking for permission, a violation of that country’s law. Both countries remain partners in the region. Sources with the Indian Navy say the move was more about sending a message to China.

As Special Presidential Envoy for Climate John Kerry wraps up his India trip,  he’s taking to social media and personally thanking some of the leaders of that region including Prime Minister Narendra Modi of India and now Prime Minister Sheikh Hasina and Foreign Minister Dr. AK Abdul Momen of Bangladesh, saying all the countries involved are committed to address global warming and climate change. Kerry is raising awareness about this issue heading into a climate conference with world leaders later this month. 

Ravi Kapur contributed to this report.

Continue Reading

News

Muslim advocates sue Facebook over not removing anti-Muslim hate speech

Published

on

Muslim Advocates Sue Facebook | Diya TV News

MENLO PARK, Calif. (Diya TV) — Frustrated with what it sees as a lack of progress, a group called Muslim advocates, along with law firm Gupta Wessler, is suing Facebook, claiming the social media giant does not consistently remove all hate speech, especially language that targets followers of Islam.  The group is calling out top executives like Mark Zuckerberg and Sheryl Sandberg, demanding the social network start taking anti-Muslim activity more seriously. A Facebook spokesperson says it regularly uses artificial intelligence to remove posts that violate its policies.

“Hugs are back.” That’s what US Surgeon General Vivek Murthy is saying after seeing an increase in Covid-19 vaccinations all across the nation. Murthy says more and more Americans are becoming comfortable getting vaccinated. And by April 19th, all adults will be eligible for the vaccine. The Indian American doctor says this trend is encouraging, but also says there is still lots of work that needs to be done about battling disinformation.

And a big blow to Indian filmmakers.  The Federal government is cutting the Film Certification Appellate Tribunal, which allowed filmmakers to appeal decisions made by the censors, which has the power and authority to ban certain movies for inappropriate content.  Instead, they will now have to go to lawyer up and go straight to court and fight if they disagree.

Ravi Kapur contributed to this report.

Continue Reading

Trending

Diya TV , Inc. © 2017 All Rights Reserved