Recent Strava hires CFO Matt Anderson and Chief Marketing Officer Louisa Wee have IPO experience with NextDoor and Block.
Fitness-tracking app Strava is preparing for a potential initial public offering and has reportedly started reaching out to investment banks to advise on the process, according to sources cited by Reuters and Yahoo Finance. Strava was valued at $2.2 billion in a recent funding round. Market conditions will determine the timing, and Strava has yet to finalize how much it will raise or the valuation it will target. The IPO is expected to launch as early as 2026, although no final decision has been made.
Recent Strava hires CFO Matt Anderson and Chief Marketing Officer Louisa Wee have IPO experience with NextDoor and Block, respectively. Sources told Reuters that the San Francisco-based company has held preliminary talks with several banks and is expected to make appointments in the coming weeks. The same report notes that discussions remain confidential, and Strava has yet to comment publicly on the matter.
Founded in 2009, Strava is one of the most popular fitness platforms globally, particularly among runners and cyclists. The company offers a free service with optional paid subscriptions, allowing users to track and analyze workouts, connect with friends and participate in virtual challenges. As of 2023, Strava reported more than 120 million registered users worldwide. According to Strava it counts now over 150 million athletes across 185 countries and continues to invest in AI and expanded live segments.
The company last raised $110 million in a Series F funding round in 2020, led by TCV and Sequoia Capital, which reportedly valued it at around $1.5 billion. Since then, it has expanded its social and mapping features and introduced new premium offerings to grow recurring revenue.
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