Business Notes: Bethesda Mom Launches ClassPass for Kids’ Activities
Plus: Lockheed Partners with Leidos in $5 Billion Deal; Maryland leads country with highest percentage of millionaires
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Bethesda mom creates app for kids’ classes
A local mom has created the ClassPass for kids. ClassPass is an app that allows people to try classes at dozens of fitness centers near them for a fee. Instead of fitness centers, JumpIt Pass allows parents to choose from a variety of kids’ classes at art studios, gymnastic centers and music schools. JumpIt Pass was launched by Bethesda native and entrepreneur Robyn Churilla and her brother, Michael Cohen, in the fall. The idea of the $99 per month app is to allow kids to try a variety of different activities without having to commit to an extended program of classes. By paying the fee, users can attend unlimited classes per month at the businesses that have partnered with the company. However, a user can only attend three classes at any one venue per month. The classes are geared for children from birth to 10 years old.
“With JumpIt Pass, I wanted to give parents the opportunity to try out different classes and see what their kids gravitated towards, without having to make a full commitment beforehand,” Churilla said in a press release. “It gives members variety so their little ones can try several activities—and not be locked into just one type of class or experience.”
Lockheed Martin strikes $5 billion deal with Leidos
The Bethesda-based military contractor announced Tuesday it will spin off its information technology business in a $5 billion deal with Reston, Virginia-based Leidos in order to focus on building military jets, helicopters and missiles. Under the terms of the merger, Lockheed will receive $3.2 billion in equity and $1.8 billion in cash dividends, and Lockheed shareholders will receive 50.5 percent of the new company’s shares, according to The Washington Business Journal. Lockheed has been shopping its IT business, which includes a significant amount of government services contracts, for months. The deal makes Lockheed “overwhelmingly reliant on military business,” according to The Wall Street Journal.
Maryland leads country in percentage of millionaires
A study released this month by Phoenix Marketing International found that Maryland has the highest percentage of millionaires of any state in the U.S. Approximately 7.7 percent of the state’s population is composed of individuals with assets totaling more than $1 million. Maryland outpaced Connecticut (7.3 percent), Hawaii (7.25 percent) and New Jersey (7.24 percent) to retain the rank for the second consecutive year. Phoenix Marketing used data from the Federal Reserve’s Survey of Consumer Finances as well as demographic data from Nielsen-Claritas to create the ranking.
Marriott reports strong 2015
Marriot International this month said it opened 300 hotels with nearly 52,000 rooms in 2015, bringing its total portfolio of hotels up to 4,400 properties with nearly 760,000 rooms. “The contracts we signed in 2015 encompass more than $15 billion of investment by our owners,” Marriott CEO Arne Sorenson said in a statement. About one-fifth of the hotel rooms added this year came from the Bethesda-based company’s acquisition of Delta Hotels and Resorts, according to the company.