Strava, the 16-year-old fitness-tracking application, is making preparations to go public, according to reporting by the Financial Times. CEO Michael Martin told the publication that the San Francisco-based company plans to list “at some point,” intending to raise capital to fund further acquisitions. Backed by investors including Sequoia Capital, TCV, and Jackson Square Ventures, Strava was last privately valued at $2.2 billion in May.
Explosive Growth and Financial Health
The app is currently experiencing strong momentum. According to data from Sensor Tower, Strava’s user base has exploded to 50 million monthly active users in 2025, which is nearly double the size of its closest competitor. Furthermore, the app’s downloads were up 80% year-over-year. Strava’s success is tied to its “secret sauce,” which involves transforming workouts into a form of social currency through features like “kudos” and split comparisons. Sensor Tower estimates that consumers spent over $180 million on Strava’s subscription tier through September, a figure that the company itself claims significantly underestimates its actual revenue. The company generates additional earnings through brand partnerships and sponsored challenges.
Cultural Tailwinds
Strava’s growth coincides with a broader cultural shift around running, particularly among young people in their teens and 20s who are increasingly seeking alcohol-free ways to socialize. Runners also emphasize that the app fulfills a need for mental health benefits by providing supportive online networks, sometimes even leading to romance. This cultural interest is reflected in organized events; applications for the 2026 London Marathon, for instance, jumped by 31% this year, reaching 1.1 million people.
Author’s Opinion
Strava’s imminent move to go public is a necessary validation of the longevity of the “social fitness” concept, proving that the gamification of athletic effort translates into a powerful subscription business. The key driver is not just the functional tracking, which is commoditized, but the deep psychological moat created by linking athletic achievement to social approval via “kudos” and leaderboards. By using its strong financial position to pursue acquisitions, Strava is correctly aiming to solidify its status as the default social network for active lifestyles before larger tech platforms attempt to fully replicate its unique combination of community and data.
Featured image credit: appshunter via Unsplash
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