MindBody acquires dynamic pricing technology company
Business management software company MindBody, based in San Luis Obispo, announced March 29 that it had acquired early-stage Southern California yield management company Lymber Wellness.
Lymber uses MindBody’s application program interface platform to support adjustable pricing strategies for wellness-based businesses. The technology changes the prices for classes and appointments based on availability, similar to dynamic or flex pricing for hotel rooms and airplane seating.
“The Lymber team has created a breakthrough technology addressing the holy grail of our industry — yield management,” MindBody co-founder and CEO Rick Stollmeyer said in a news release.
The company will begin to integrate the technology into its own platform immediately, the release said, with an initial rollout expected later this year. Financial terms of the deal were not disclosed.
“By embedding this technology into our business software, consumer apps and the MindBody network, we intend to enable our subscribers to better achieve their business goals by more effectively selling the millions of available classes and appointments they offer each day,” Stollmeyer said.
MindBody stock fell slightly to $27.30 at 9:10 a.m. March 28, after closing the previous day at $27.55.
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