Strava is progressing its initial public offering (IPO) of shares, according to Reuters.
Originally reported by business news site The Information, Reuters says Strava has hired investment bank Goldman Sachs as an advisor and has filed confidentially for an IPO.
Reuters says Strava’s last funding round in May 2025 valued the fitness-tracking site at $2.2 billion. It was financed by a number of venture capital companies, including the high-profile Silicon Valley firm Sequoia Capital.
US stock markets are riding high at the moment and Strava’s IPO would enable the May investors and Strava’s founders to realise their investments, doubtless with a hefty profit.
What it will do for Strava users, beyond securing the brand’s financial future, is less clear. When the planned IPO initially surfaced in October, Strava CEO Michael Martin told the Financial Times that going public would provide easier access to capital for it to acquire other companies.
Last year, Strava bought the Runna running coaching app, as well as cycling training platform The Breakaway, enabling it to offer tailored training plans. We'd guess it has larger fish in its sights after the IPO, potentially triggering a consolidation in training apps for cycling and other sports.
Strava appears to be focused increasingly on running. Its 2025 Year in Sport highlighted the app’s take-up by Gen Z runners, with a large increase in its user base, while cycling takes a back seat.
Strava’s research, highlighted in the report, found its users believe that mountain biking and gravel cycling, in particular, present high barriers to entry, behind only snow sports.
In the Year in Sport, Strava also says the social side of sport is growing. Gen Z users surveyed said they expect to use Strava more in preference to Instagram and TikTok in 2026, suggesting the fitness app’s aim of becoming the social network for athletes is bearing fruit.
Around 14 billion units of kudos were given in 2025, 20 per cent more than in 2024, and Strava highlighted the increased number of clubs on the site.
