Tonal EC-1 - Smart Home Fitness

The Reintroduction of the EC-1 Series

In 2019, a novel format for Extra Crunch, designated the EC-1, was initially launched. Inspired by the Form S-1 filing submitted by late-stage startups to the SEC during the IPO process, EC-1s provide comprehensive and authoritative analyses of growth-stage companies. Several firms, including Patreon, Niantic, Roblox, Kobalt, and Unity, were profiled and examined, with attention given to aspects like product design, customer engagement, event strategies, and the evolving economics of music licensing.

Initial Success and Subsequent Pause

The series garnered significant popularity, and ambitious plans were formulated for its expansion. However, the onset of 2020 and the global COVID-19 pandemic presented unforeseen challenges. Travel restrictions and the inability to conduct in-person meetings with company leadership hindered progress. Furthermore, the period demanded focused coverage of rapidly unfolding events.

Maintaining a commitment to quality, the series was temporarily paused while conditions improved. We preferred to wait for an opportune moment to resume the in-depth analysis that defined the EC-1 format.

Restarting the EC-1 in 2021

As a degree of normalcy returns, we are pleased to announce the revival of this series in 2021. Currently, nearly 10 EC-1 profiles are in development. We are delighted to present the first EC-1 profile of this new phase – a company that experienced substantial growth during the challenging pandemic year.

Introducing Tonal

Tonal represents a distinctive offering within the high-end fitness sector. It integrates proprietary hardware, software, and content to deliver a complete strength training experience within the home, maximizing efficiency and minimizing space requirements. The company has witnessed a surge in sales as gyms worldwide were forced to close, attracting considerable attention from both consumers and investors.

However, this current success obscures a prolonged period of refinement spanning several years. The company faced skepticism from many venture capitalists who doubted the ability of an enterprise infrastructure founder to successfully create a popular consumer hardware product. Tonal’s story is not solely one of determination, but also demonstrates the considerable effort required to establish a significant startup, encompassing product development, launch strategies, targeted marketing, and the creation of competitive barriers.

The EC-1 Team

JP Mangalindan, a writer and analyst for TechCrunch, authored this EC-1. Mangalindan has extensive experience covering technology, previously serving as chief tech correspondent for Yahoo Finance and contributing to numerous other tech publications. He offers valuable insights into startups, Tonal, and the broader fitness industry.

Danny Crichton served as the lead editor for this package, while Richard Dal Porto handled copy editing, and Nigel Sussman created the illustrations.

It is important to note that Tonal had no influence over the content of this analysis and did not receive advance access to it. Mangalindan has no financial connections to Tonal and disclosed no conflicts of interest.

EC-1 Structure and Content

The Tonal EC-1 consists of four primary articles, totaling approximately 10,600 words and an estimated reading time of 43 minutes. The sections are as follows:

• Part 1: Origin story “How a homegrown experiment became one of the fastest-growing companies in fitness tech” (3,200 words/13 minutes) – This section details the history of Tonal, the challenges of securing venture capital, and the iterative process of product development and redefining strength-training equipment.
• Part 2: Product launch “Millions of dollars and 3.5 years, and it all came down to this” (2,800 words/11 minutes) – This explores the strategic decisions and tactics employed by Tonal during its product launch, a critical moment for any hardware company.
• Part 3: Community building “Building online communities for fun, profit and product” (2,200 words/9 minutes) – This analyzes Tonal’s initial efforts in community building and how it leverages community engagement to enhance its products and retain customers for its subscription service.
• Part 4: Competitive landscape and future “Can Tonal become the luxury fitness market champion?” (2,400 words/10 minutes) – This evaluates the competitive pressures facing Tonal and examines the company’s future strategies for continued growth.

We are continuously refining the EC-1 format. Feedback, questions, and suggestions are welcome. Please direct correspondence to TechCrunch Managing Editor Danny Crichton at danny@techcrunch.com.