Strava eyes IPO as Gen Z trades dating apps for running clubs
Strava, a 16-year-old fitness app valued at $2.2 billion, plans to go public to raise capital for acquisitions, according to CEO Michael Martin.
MAIN POINTS
- Strava is a 16-year-old fitness tracking app based in San Francisco.
- The company plans to go public to raise capital for acquisitions.
- Strava is backed by Sequoia Capital, TCV, and Jackson Square Ventures.
- The app was last valued at $2.2 billion.
TAKEAWAYS
- Strava aims to expand through acquisitions by going public.
- The company has significant backing from major venture capital firms.
- Going public is a strategic move for future growth.
- Strava's current valuation stands at $2.2 billion.