Fitness tracking app Strava is limbering up for an IPO in New York, boosted by a growing number of people around the world taking up long-distance running.
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Acquisition Boost
According to an article in the Financial Times, chief executive Michael Martin said that the San Francisco-based firm planned to list at “some point” eyeing up cash for more acquisitions.
Strava allows athletes, both professional and those who prefer a more leisurely jog or cycle, to log and record their activities and share these with a network of friends or peers. It also helps measure performance with data on distance, speed or elevations.
The company, backed by Sequoia Capital, TCV, and Jackson Square Ventures, was last valued at $2.2 billion in May.
Its valuation at IPO could be even higher given the acceleration of the firm in recent months. The app’s user base has exploded to 50 million monthly active users in 2025, according to Sensor Tower, with downloads up 80% year-over-year.
Acquisitions have also helped such as the deal to buy UK-based coaching app Runna earlier this year.
“Growth profiles like ours are particularly uncommon, especially at scale,” Martin told the FT. “It attracts a lot of attention – especially from bankers.”
Gen Z Fitness Fanatics
Its growth has been driven by more people, especially in their teens and 20s seeking more alcohol-free ways to socialize. Runners also emphasize the mental health benefits of finding support networks via the app as well as physical health.
Indeed, over 1.1 million have applied to run the London Marathon next year, with New York City Marathon numbers up 22% to over 200,000.
Strava could be heading to Wall Street at a favorable moment. After an April slowdown because of fears over President Trump’s trade tariffs, as well as economic and geopolitical uncertainty, IPOs have come back to the boil.
That could be down to the resilience of U.S. markets or pent-up demand from investors.
The year has already seen several large and successful IPOs from companies such as CoreWeave (CRWV) and fintech Klarna (KLAR). Others are on the way including cryptocurrency exchange Gemini.
What Other IPOs are On the Way?
We have rounded up some upcoming IPOs using our TipRanks IPO calendar.
