Strava reportedly planning for Initial Public Offering following a recent $2.2 billion valuation
Strava, the popular fitness tracking app, is planning a U.S. initial public offering (IPO) as early as 2026, according to reports. The company has invited Goldman Sachs, JPMorgan, and Morgan Stanley to pitch for roles in the IPO, but the specific amount Strava plans to raise or the valuation it will target for the IPO has not been finalized.
Strava has been expanding its ecosystem through acquisitions. Just weeks prior to The Breakaway acquisition in May 2023, Strava acquired Runna, a run-focused training app. Races by Runna, the new app launched by Runna, aims to simplify race discovery amid a surge in organized events, as Strava has reported a nearly 70% increase in unique races in 2024 compared with the prior year.
The app offers users the ability to filter events by distance, terrain, location, or tags such as 'dog-friendly.' Strava has also been investing heavily in product features, including AI-powered route recommendations, tappable Points of Interest, and new performance tools like expanded Live Segments.
Louisa Wee has been named as the chief marketing officer of Strava, while Matt Anderson has been named as the chief financial officer. Anderson previously served as CFO at Nextdoor and helped guide the company through its public listing. Anderson also led corporate finance and strategy at Block (formerly Square) during its 2015 IPO.
However, Strava did not immediately respond to a request for comment regarding the new app or its IPO plans. The timing of the listing will depend on market conditions.
The fundraising round that took place in the app's latest valuation was $2.2 billion. As Strava continues to grow and expand, it will be interesting to see how the IPO unfolds and what impact it will have on the company and its users.
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