Strava, the 16-year-old fitness tracking app, is gearing up to go public, the Financial Times reports.
CEO Michael Martin told the FT that the San Francisco company plans to list “at some point,” eyeing capital for more acquisitions. The company, backed by Sequoia Capital, TCV, and Jackson Square Ventures, was last valued at $2.2 billion in May.
Strava has the wind at its back, certainly. The app’s user base has exploded to 50 million monthly active users in 2025, according to Sensor Tower – nearly double its closest competitor, with downloads up 80% year-over-year.
Strava’s growth coincides with a cultural shift around running, particularly as people in their teens and 20s seek more alcohol-free ways to socialize. Runners also emphasize the mental health benefits of finding support networks (and, sometimes, romance). Applications for the 2026 London Marathon jumped 31% this year to 1.1 million people.
Strava’s secret sauce? Turning workouts into social currency with “kudos” and split comparisons. Sensor Tower estimates consumers spent over $180 million on its subscription tier through September – a figure Strava says significantly underestimates actual revenue. The company also earns from sponsored challenges and brand partnerships.
