Strava eyes IPO as Gen Z trades dating apps for running clubs

Strava, a 16-year-old fitness tracking app, is preparing to go public, the Financial Times reports.

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

There is definitely wind behind Strava. According to Sensor Tower, the app’s user base is set to reach 50 million monthly active users in 2025 – almost double that of its nearest rival, with downloads up 80% year-on-year.

Strava’s growth coincides with a cultural shift around running, particularly as people in their teens and 20s look for more alcohol-free ways to socialize. Runners also emphasize the mental health benefits of finding a support network (and, sometimes, romance). Applications for the 2026 London Marathon increased by 31% this year to 1.1 million.

Strava’s secret sauce? Turning workouts into social currency with “praise” and divided comparisons. Sensor Tower estimates consumers spent more than $180 million on its subscription tier through September — a figure Strava says significantly underestimates actual revenue. The company also earns from sponsored challenges and brand partnerships.