Dick Costolo speaks on stage at the CoachArt Gala of Champions event at The Beverly Hilton Hotel on Oct 15 2015 in Beverly Hills California Photo by Imeh AkpanudosenGetty Images for CoachArt

Dick Costolo speaks on stage at the CoachArt Gala of Champions event at The Beverly Hilton Hotel on Oct. 15, 2015, in Beverly Hills, California. (Photo by Imeh Akpanudosen/Getty Images for CoachArt.)

Former Twitter CEO Dick Costolo: Fitness Industry Mythologizes Path to Fitness

Former Twitter CEO Dick Costolo made headlines last week with an announcement that he would be starting a fitness software platform with co-founder Bryan Oki.

Former Twitter CEO Dick Costolo made headlines last week with an announcement that he would be starting a fitness software platform with co-founder Bryan Oki.

He made the announcement on Twitter Jan. 19 in a tweet describing the yet-to-be-named venture. The platform "will go beyond measurement to motivate and drive improvement and make the road to personal transformation fun and social," Costolo said in the tweet.

On Tuesday, Costolo was interviewed on CNBC's 'Squawk Alley' and discussed his vision for the new platform.

"I think, you know, the fitness industry really mythologizes the path to fitness as one of self-actualization and you see their ads reinforcing this individual iron will," Costolo said on CNBC. "But the reality is that most of us are really successful at getting from point A to point B through social queues, social accountability, and social support, and that's what we're going to do. We're going to bring all of that together in a software platform and really address that challenge in the space."

Costolo was then asked what the platform would bring that is currently missing in the connected fitness marketplace.

"There's an absolute fragmentation and no integration at all across these different kind of trackers' apps for specific kinds of workouts," Costolo said on CNBC. "There's specific apps for running. There's specific apps for cycling. There's different apps for mountain biking to say nothing of the increased specialization in areas like CrossFit and Peloton and these boot camp classes that lots of folks are going to now. So we're going to bring all of that together, re-add the community aspect that we think is really missing from the fitness space and causing this bowling alone problem, which is no fun at all."

Costolo, who stepped down as Twitter CEO in June 2015, also announced last week that he is joining Index Ventures as a venture partner to invest in entrepreneurs and work with existing portfolio companies to scale and grow. 

A video of the CNBC interview is below, and the the full transcript is here.

Here is Costolo's tweet describing the new fitness venture:

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