Fitness tracking app Strava all set for an IPO
What's the story
Strava, a leading fitness tracking app, is preparing for an initial public offering (IPO). CEO Michael Martin told the Financial Times that the San Francisco-based company intends to go public "at some point," with an eye on raising capital for future acquisitions. The company was last valued at $2.2 billion in May and is backed by Sequoia Capital, TCV, and Jackson Square Ventures.
User growth
User growth and cultural shift toward running
Strava's user base has grown exponentially, hitting 50 million monthly active users in 2025. This is nearly double that of its closest competitor and marks an 80% year-over-year increase in downloads. The app's growth comes as a cultural shift toward running continues, especially among teens and young adults looking for sober socializing options.
Business model
Monetization strategies and revenue streams
Strava has successfully turned workouts into social currency with features like "kudos" and split comparisons. Sensor Tower estimates that users have spent over $180 million on its subscription tier through September. However, Strava claims this figure greatly underrepresents its actual revenue. The firm also generates income from sponsored challenges and brand partnerships, further diversifying its revenue streams.