Strava, a Prime Unicorn Index component once valued at roughly $1.5 billion, has lowered its internal valuation, as evidenced through Employee Plan Exemption Notices (EPENs), which disclose the price of common shares issued to company executives.
Strava is a popular fitness tracking and social networking app for athletes, particularly cyclists and runners. It allows users to record their activities using GPS data, analyze their performance, set personal goals, and connect with other athletes. The platform is known for its segment feature, which enables users to compare their times on specific routes with others, fostering friendly competition and motivation. Strava also provides detailed analytics, training plans, and the ability to share achievements with a community of like-minded fitness enthusiasts.
On August 12, 2024, the company filed two EPENs with California that disclosed a common share price of $5.53, 54.3% lower than its last common share price of $12.10 disclosed in a March 17, 2022 filing. This puts the company’s current valuation at about $740 million.
Strava last raised a $110 million Series F in November 2020. This round, priced at $13.99 PPPS, valued the company near $1.5 billion. Investors include Sequoia, Jackson Square Ventures, Madrone Capital, Sigma Partners, and TCV.
In a recent article from The Information, Strava was reported to have 125 million users and an estimated $70 million in annual revenue. The company claims to have been EBITDA-positive over the past four years. It has had its fair share of controversy, however: Strava has been through six CEOs since its founding, and Strava data was noted by some analysts to disclose the locations of secret US and Israeli military bases.
