Strava eyes IPO as Gen Z trades dating apps for running clubs
Strava, the popular fitness tracking app, is reportedly planning to go public in the near future. The 16-year-old company, based in San Francisco, is eyeing an initial public offering (IPO) to raise funds for further acquisitions, according to CEO Michael Martin. Strava, which was last valued at $2.2 billion, is currently backed by several prominent venture capital firms, including Sequoia Capital, TCV, and Jackson Square Ventures. The company's decision to pursue an IPO comes as the fitness industry has seen a surge in popularity, particularly among younger generations, who are increasingly trading dating apps for running clubs and other social fitness activities. The article suggests that Strava's potential IPO could be an indication of the growing demand for fitness-focused technologies and the increasing role of social and community aspects in the fitness market.
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