The wearable fitness company Whoop, known for its recovery-tracking strap, is set to lease an additional 107,000 square feet in Boston, a space that could accommodate up to 1,000 new workers. This expansion would rank among the largest office deals in the city this year.
Founded in 2012, Whoop started as a performance-tracking device for athletes and has since evolved into a broader health platform. The company's subscription-based model has attracted a loyal user base, and its valuation has surged in recent years. With this latest move, Whoop is doubling down on its Boston roots even as many tech firms shrink their physical footprints.
Why Boston Matters to Whoop
CEO Will Ahmed has a blunt answer for anyone wondering why the company is doubling down on a city known for harsh winters and old buildings.
"Boston's been underrated in regards to a lot of what it can provide an up and coming company," Ahmed said.
Whoop is a major tenant in Kenmore Square, an area near Boston University and research hospitals that has grown into a tech hub. Ahmed says a Boston base helps retain workers in a way Silicon Valley or New York startups often cannot.
"The folks that get a little caught up in the hype cycle of a tech company, or get too caught in the valuation speak or what's en vogue, they are less likely to stick it out through some of the more challenging periods," he said.
Whoop mandates that its Boston employees come into the office a minimum of four days each week. If someone is not on board with that, Ahmed figures they probably were not a great match anyway.
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"If they're going to be turned off by the weather, they may or may not be ready for the hard things we're going to ask them to do," he said.
A Fast-Growing Company With Big Plans
The company raised a funding round in March that set its valuation at $10.1 billion, and Ahmed said the company expects to go public in about a year and a half.
The 600 new hires are not just more of the same. Whoop is weaving AI into its health tools, pushing into international markets, and building out partnerships beyond fitness. It already partners with the Natural Cycles fertility app, a sign the company sees itself as a broader health platform rather than just a gadget maker.
What the Office Market Says
Whoop's expansion is a bright spot in a Boston office market that could use one. Whoop's home neighborhood, Fenway, saw a 29.2% office vacancy rate at the end of the second quarter. That is well above the 18.7% vacancy rate across the rest of the city, according to CBRE data.
But Ahmed sees an opportunity in the people who do come back.
"CEOs have to play a role" in making cities work again, he said, adding that workers "are going to be showing up in Boston in the heart of the city. And guess what they're going to be doing for breakfast and lunch and dinner and happy hour? They're going to be going out and spending."
Whoop is also trying to keep talent from leaving. The company leads the Massachusetts AI Coalition, a group formed this year to push back against the flow of startup founders out of elite local universities like MIT and Harvard.
What This Means for Investors
Whoop is entering its public-market chapter at an interesting time. The wearable field is getting more crowded, and competition is driving prices down. Some rivals now offer screenless trackers at around $100 with a $10 monthly subscription, while Whoop charges no upfront hardware fee but requires a $200 annual membership.
For investors watching the IPO, the story here is about growth and location. Whoop is doubling down on Boston at a moment when many tech companies are shrinking their offices. That is a deliberate bet on in-person culture, on loyalty, and on the idea that a strong home base beats whatever is trendy.
Ahmed is clear about the philosophy behind it. "It's hard to know at an early stage if a company is great, but you want to create an environment where they can continue to flourish," he said.
Whether that bet pays off will show up in the public markets. Until then, the company is hiring, expanding, and making its case that Boston deserves more credit than it gets.
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