--- description: To pursue other projects title: The Founders of SoulCycle Have Resigned image: https://static.time.com/v3/assets/bltea6093859af6183b/bltf59a228aad47c4d3/69888e5d0a4a227dfd9c92a1/soulcycle.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Companies](/tag/companies/) ## Companies Update your preferences in [Account Settings](/account/preferences/) Close # The Founders of SoulCycle Have Resigned  by [Charlotte Alter](/author/charlotte-alter/)  ## Charlotte Alter Update your preferences in [Account Settings](/account/preferences/) Close Senior Correspondent Apr 8, 2016 8:23 PM CUT  Julie Rice (left) and Elizabeth Cutler, Co-Founders and Chief Creative Officers of SoulCycle attend 'Creating a Movement: The Story of Soul Cycle' during the 2016 SXSW Music, Film + Interactive Festival at Austin Convention Center in Austin on Mar. 15, 2016. Julie Rice (left) and Elizabeth Cutler, Co-Founders and Chief Creative Officers of SoulCycle attend 'Creating a Movement: The Story of Soul Cycle' during the 2016 SXSW Music, Film + Interactive Festival at Austin Convention Center in Austin on Mar. 15, 2016.Mindy Best— Getty Images for SXSW  by [Charlotte Alter](/author/charlotte-alter/)  ## Charlotte Alter Update your preferences in [Account Settings](/account/preferences/) Close Senior Correspondent Apr 8, 2016 8:23 PM CUT SoulCyle founders Elizabeth Cutler and Julie Rice have resigned from the massive fitness company they started in 2006, [_Fortune_](http://fortune.com/2016/04/08/soulcycle-co-founders-resign/ "undefined")reports. They are reportedly going on to pursue other projects. Health club giant Equinox bought a majority stake in the company in 2011, and now owns 97% of SoulCycle as it prepares for an IPO. The company saw its revenue triple between 2012 and 2014, from $36.2 million to $112 million. Cutler and Rice reportedly each got a payout of [$90 million ](http://fortune.com/2016/04/08/soulcycle-co-founders-resign/ "undefined")when Equinox upped its stake last spring. [Read more at _Fortune_. ](http://fortune.com/2016/04/08/soulcycle-co-founders-resign/ "undefined") ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4287298/soulcycle-founders-resign/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4287298/soulcycle-founders-resign/"},"headline":"The Founders of SoulCycle Have Resigned","datePublished":"2016-04-08T20:23:02.000Z","dateModified":"2026-02-22T16:35:52.772Z","description":"To pursue other projects","url":"https://time.com/4287298/soulcycle-founders-resign/","keywords":["Companies","fitness"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltf59a228aad47c4d3/69888e5d0a4a227dfd9c92a1/soulcycle.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Charlotte Alter","jobTitle":"Senior Correspondent","url":"https://time.com/author/charlotte-alter/"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/bltf59a228aad47c4d3/69888e5d0a4a227dfd9c92a1/soulcycle.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Julie Rice (L) and Elizabeth Cutler, Co-Founders and Chief Creative Officers of SoulCycle attend 'Creating a Movement: The Story of Soul Cycle' during the 2016 SXSW Music, Film + Interactive Festival at Austin Convention Center on March 15, 2016 in Austi","caption":"Julie Rice (L) and Elizabeth Cutler, Co-Founders and Chief Creative Officers of SoulCycle attend 'Creating a Movement: The Story of Soul Cycle' during the 2016 SXSW Music, Film + Interactive Festival at Austin Convention Center on March 15, 2016 in Austi","creditText":"Mindy Best— Getty Images for SXSW","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/companies/","name":"Companies"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/4287298/soulcycle-founders-resign/","name":"The Founders of SoulCycle Have Resigned"}}]}] ```