Following a bizarre commercial which raised many questions and led to the company becoming a meme last year (as well as certain global events that led to a lot more people exercising at home), stationary bike brand Peloton decided to expand their reach by signing a multi-year partnership with Beyonce. After the deal with Bey was officially announced, Jay-Z decided that he’d position himself as a rival by reportedly making a similar move to break into the fitness industry.
Per a report from TMZ, Jay-Z is investing a chunk of his money into the startup brand CLMBR, which is gearing up to launch its first two products. CLMBR is a home equipment company which specializes in vertical climbing machines. The equipment is made to simulate a climbing wall and, much like Peloton, includes a touch screen which offers a range of in-depth workout classes with instructors on-demand.
Further establishing himself as competition, Jay-Z’s fellow CLMBR investors include a name familiar to Bey. The couple’s longtime fitness consultant Marco Borges is financially backing the startup, as well as renowned tennis champion Novak Djokovic and YouTube co-founder Chad Hurley.
Jay-Z’s workout equipment endeavor isn’t the only company he’s invested in lately. The rapper recently broke ground on his own brand of cannabis products, Monogram, which seeks to grow high quality strains in small batches.