"Michael Martin, who took over as CEO in 2024 from Strava cofounder Michael Horvath, told the Financial Times the company has the "intention to go public at some point," and noted that a public listing "provides easy access to capital in case we wanted to do more and bigger acquisitions." Martin declined to provide more detail to the FT on when the company would go public. A spokesperson for Strava did not immediately respond to a request for comment."
"The company already acquired U.K.-based coaching app Runna and cycling training app The Breakaway for undisclosed sums earlier this year. Those personalized coaching offerings-when combined with the app's social features that allow users to track their friends' workouts and give digital "kudos"-have likely increased Strava's following among tech-savvy youth. Strava has also benefited from Gen Z's move toward healthier lifestyles since the pandemic that may explain Starbucks' foray into protein lattes and the slow death of boozy nightclubs."
"While young people reportedly feel burnt out by dating apps, Strava's Year In Sport: Trend Report last year reported a 59% increase in running club participation globally in 2024. And among the 5,000 Strava users and non-users surveyed, 1 in 5 Gen Z respondents went on a date with someone they met through a running club and were four times more likely to want to meet people while exercising than at a bar."
Strava was last valued at $2.2 billion and is experiencing strong engagement driven by Gen Z’s increasing interest in running and run clubs. CEO Michael Martin said the company intends to go public at some point to provide easy access to capital for larger acquisitions. The company acquired U.K.-based coaching app Runna and cycling training app The Breakaway, adding personalized coaching that complements social features like tracking friends' workouts and giving digital "kudos." Strava reported a 59% global increase in running club participation in 2024 and survey data show many young runners meet and date through clubs, alongside growing marathon interest.
Read at Fortune
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