LeBron James' Nutrition Company Ladder Sold To Fitness Platform Openfit

Ladder, a nutritional company founded by LeBron James and Arnold Schwarzenegger, "has been sold" to the technology fitness platform Openfit, according to Jabari Young of CNBC.com. Openfit CEO Jon Congdon said that James and Schwarzenegger "would stay on as minority shareholders and help with future promotional content." Openfit is a mobile application that "monetizes private training and exercise classes through subscriptions." With the acquisition of Ladder, which is on pace for $4M in sales for '20,  Openfit "will pair nutritional supplements with its 'live and on-demand fitness programs, personalized nutrition plans and virtual access' to certified trainers." James and Schwarzenegger founded Ladder in '18, "aiming to create nutritional products for athletes to combat cramping while in action." The idea "stemmed from James' severe cramping in Game One" of the '14 NBA Finals (CNBC.com, 12/2).