Strava Advances IPO Plans, Per Report
Sources say the popular social fitness app could go public as soon as this spring. CEO Michael Martin has been vocal about the idea of an IPO to help Strava pursue acquisitions
Strava has confidentially filed for an initial public offering and tapped Goldman Sachs to lead the process, it’s been reported.
The Information first reported the news, citing sources who also said that Strava grew revenue by more than 50% last year and reached profitability. The social fitness app, a favorite among runners and cyclists, has been meeting with prospective investors and could debut as soon as this spring, the sources said.
The move has also been widely anticipated, following months of speculation that Strava was weighing an IPO and taking steps that appeared to pave the way.
CEO Michael Martin previously floated the idea to the Financial Times, saying the social fitness platform had an “intention to go public at some point.” He noted that a listing would “provide easy access to capital” should Strava pursue additional — and larger — acquisitions, though he didn’t share a timeline.
Last year, the company acquired the core assets of The Breakaway, a cycling training app, and Runna, a running-focused app, and completed a new fundraising round that valued the company at $2.2 billion, including debt, The Wall Street Journal reported.
The San Francisco-based company also named Matt Anderson as chief financial officer and Louisa Wee as chief marketing officer last summer. Anderson previously served as CFO at Nextdoor, where he helped guide the company through its public listing, and earlier led corporate finance and strategy at Block (formerly Square) during its 2015 IPO.
Strava’s recent history also included a brief legal skirmish with Garmin over alleged patent infringement and partnership terms, which it abruptly dropped less than a month after filing.
Gen Z has emerged as a key growth driver on Strava, with company data showing younger users fueling surging participation in races and strength training, according to the platform’s 2025 “Year in Sport” report.
