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Most Innovative Companies

SoulCycle

SoulCycle is an American indoor cycling company with studios across the United States and a cultish following of "spinners." Founded in 2006 with a single cycling studio on New York City's Upper West Side, SoulCycle's spin classes helped usher in a national craze of synchronized boutique group exercise. Having won over an elite customer base on the east and west coasts, SoulCycle is maintaining the lead on its ever-growing list of competitors by recruiting new devotees in unexpected markets. In 2015, it expanded its studio footprint from 37 to 55, including two in new cities: Miami and Chicago. But that's just a fraction of the 250 U.S. locations where SoulCycle sees a demand for its faux candle-lit cycling classes. Before opening doors in new cities, a team is dispatched to connect with locals to quickly establish a community. And the company maintains its integrity by prioritizing strong relationships between instructors and riders, who pedal through 45-minute classes together to the tune of carefully coordinated jams. In 2016, SoulCycle expanded to Houston and Philadelphia. And the company has teamed up with Target for a cross-country tour, bringing free classes to 10 cities including Denver, Minneapolis, Nashville, and Atlanta. Next up: The company wants to go beyond the studio walls, potentially bringing the SoulCycle experience into spinners' homes, `a la competitor Peloton. With an IPO in the works, SoulCycle is clearly breaking away from the pack.

Awards
2013: Fitness
Data
valuation: $900 million
public or private: Private
staff: 1,237
users: 300,000 unique riders; 10,378 rides per day; 25,641 classes
headquarters: New York, NY
Competition: Peloton
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