Mirror Wanted to Be the Next iPhone. Instead, It’s Selling to Lululemon.

Why would the startup sell for $500 million when sales were booming in the middle of a pandemic?

The Mirror can read your heart rate, track the calories you’ve burned, and personalize workouts based on whether you have a bad back, or want more defined abs. While it currently offers workouts across 20 different genres — from to pilates, to strength training, to boxing — Putnam, a Harvard-schooled professional ballerina and former barre chain owner has had much larger ambitions for the product. “We always said that we believe we’re building the next iPhone,” she had told Fast Company late last year.