Strava has achieved a $2.2 billion valuation after acquiring Runna, a UK-based running coaching platform. This acquisition marks Strava's deeper commitment to the UK market, establishing its first tech development office in London. Unlike other fitness apps that have struggled post-pandemic, Strava maintains strong growth with users logging over 1 billion runs last year. The acquisition is backed by Sequoia Capital, signaling confidence in the UK tech ecosystem, despite recent concerns about London’s appeal as a tech hub.
"We didn't have a tech development office in London. With Runna, I see that as the beginning."
"The UK is an amazing ecosystem. It has great universities, amazing AI talent, and world-class entrepreneurs."
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