Strava, the San Francisco-based fitness tracking app founded in 2009, is preparing for an initial public offering (IPO) to fuel further growth and acquisitions. CEO Michael Martin has indicated that the company plans to list at some point, aiming to raise capital for expansion. In May 2025, Strava was valued at $2.2 billion following a funding round led by Sequoia Capital, with participation from TCV and Jackson Square Ventures. ([techcrunch.com](https://techcrunch.com/2025/10/12/strava-eyes-ipo-as-gen-z-trades-dating-apps-for-running-clubs/?utm_source=openai))
The app has experienced significant growth, reaching 50 million monthly active users in 2025, nearly doubling its closest competitor. This surge is attributed to an 80% year-over-year increase in downloads, reflecting a cultural shift among teens and young adults who are seeking alcohol-free social interactions through running clubs. This trend is further evidenced by a 31% increase in applications for the 2026 London Marathon, totaling 1.1 million applicants. ([techcrunch.com](https://techcrunch.com/2025/10/12/strava-eyes-ipo-as-gen-z-trades-dating-apps-for-running-clubs/?utm_source=openai))
Strava’s success lies in its ability to transform workouts into social experiences. Features like kudos and performance comparisons have turned exercise into a form of social currency. The company’s premium subscription service has generated over $180 million in revenue through September 2025, supplemented by income from sponsored challenges and brand partnerships. ([techcrunch.com](https://techcrunch.com/2025/10/12/strava-eyes-ipo-as-gen-z-trades-dating-apps-for-running-clubs/?utm_source=openai))
To strengthen its market position, Strava has made strategic acquisitions, including the UK-based running coaching platform Runna and the US cycling app The Breakaway, both finalized in 2025. These acquisitions aim to enhance Strava’s coaching capabilities and expand its global footprint. The company has also opened a new tech office in London and appointed former Nextdoor CFO Matt Anderson and LinkedIn executive Louisa Wee to prepare for its public listing. ([ainvest.com](https://www.ainvest.com/news/strava-2-2b-ipo-monetizing-marathon-modern-social-fitness-2510/?utm_source=openai))
Investors such as Sequoia Capital, TCV, and Goldman Sachs are supporting Strava’s IPO preparations. The company has engaged underwriters like Goldman Sachs and JPMorgan to navigate the listing process. Analysts note that Strava’s diversified revenue streams and focus on community-driven engagement position it well against competitors, though risks such as user churn and market saturation remain. ([ainvest.com](https://www.ainvest.com/news/strava-2-2b-ipo-monetizing-marathon-modern-social-fitness-2510/?utm_source=openai))
The IPO comes as digital fitness gains mainstream traction, with Strava capitalizing on a projected $230 million in revenue by 2032. CEO Michael Martin emphasized the need for capital to fund more and bigger acquisitions, signaling a strategic push to solidify its market leadership. ([ainvest.com](https://www.ainvest.com/news/strava-2-2b-ipo-monetizing-marathon-modern-social-fitness-2510/?utm_source=openai))
