Strava is eyeing an IPO as Gen Z trades in dating apps to run clubs

Stravaa fitness tracking app created 16 years ago, is preparing to go public, Financial Times reports.

CEO Michael Martin told the Financial Times that the San Francisco company plans to list “at some point” and is eyeing capital for further acquisitions. The company, which is backed by Sequoia Capital, TCV and Jackson Square Ventures, was last evaluated $2.2 billion in May.

Strava definitely has the wind at its back. The app’s user base expanded to 50 million monthly active users in 2025, according to Sensor Tower — nearly double its nearest competitor, with downloads up 80% year-on-year.

Strava’s growth coincides with a cultural shift around running, especially as people in their teens and 20s look for alcohol-free ways to socialize. Runners also stress the mental health benefits of finding support networks (and sometimes, Romance). Applications to participate in the 2026 London Marathon jumped by 31% this year, reaching 1.1 million people.

Strava’s secret sauce? Turn training into social currency through “fame” and split comparisons. Sensor Tower estimates that consumers spent more than $180 million on its subscription tier through September — a number that Strava says significantly understates actual revenue. The company also profits from sponsored challenges and brand partnerships.