2PointZero Group subsidiary acquires stake in US fitness wearables firm Whoop

A subsidiary of Abu Dhabi-listed 2PointZero Group has acquired a stake in US health tech firm Whoop, Inc. The company did not disclose the size of the stake or financial terms of the deal.

Whoop operates a subscription-based wearable fitness platform and has raised more than $400 million since launching in 2005. Its investors include major funds like SoftBank Vision Fund, IVP, and GP Bullhound.

How does it work?

2PointZero Group is an investment holding company backed by International Holding Company (IHC). The group was created last year through a major merger that combined three companies:

• 2PointZero
• Multiply Group
• Ghitha Holding

The merged entity now holds assets across multiple sectors:

• Energy
• Mining
• Financial services

Why does it matter?

The Whoop acquisition comes as 2PointZero Group reports strong financial performance following its mega-merger. The company's latest results show significant growth:

• Revenue jumped 311% to AED7 billion
• Net profit reached AED3.6 billion ($980.25 million)
• Operating business profits rose 158% year-on-year
• Gross profit margin held steady at 49%

The group also completed the sale of PAL Cooling, which generated a net gain of AED2.7 billion. This helped offset an AED0.8 billion impairment loss against Kalyon Enerji.

The context

2PointZero Group's strong financial position gives it capital to pursue strategic investments like Whoop. The company reported adjusted EBITDA of AED3 billion, up from AED1.7 billion in 2024.

The group is also pushing digital transformation across its business units to improve efficiency and drive revenue growth. Key factors supporting the company's expansion include:

• Backing from International Holding Company
• Successful integration of three major companies
• Strong performance across all business verticals
• AED0.1 billion in unrealized revaluation gains from investments

The investment in Whoop fits 2PointZero's strategy of building a diverse portfolio across high-growth sectors, now extending from traditional industries into health technology.