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5h ago

Strava Signals IPO Plans as Gen Z-Fueled Growth Accelerates

The company is seeking access to capital to pursue larger acquisitions.

One in five respondents to Strava's Year In Sport: Trend Report from 2024 reported going on a date with someone they met through a running club.
Strava’s 150 million users include the American singer Reneé Rapp

Overview

  • CEO Michael Martin said Strava intends to list "at some point," according to the Financial Times.
  • The company has invited banks including Goldman Sachs and JPMorgan to pitch for roles in a potential IPO, Reuters reported.
  • Strava claims more than 150 million users, and app downloads rose about 80% from January to September, according to Sensor Tower.
  • Consumer spending on Strava’s subscription surpassed $180 million through September, Sensor Tower estimates, which Strava says understates total revenue that also includes sponsored challenges and brand partnerships.
  • Strava expanded its product lineup with acquisitions of Runna and The Breakaway earlier this year, following a May funding round that valued the business at $2.2 billion.