Strava Prepares for US IPO, Hires Banks for Early 2023 Listing

Strava, a fitness tracking app, is preparing for an IPO in the US, potentially as early as next year. The company has invited banks, including Goldman Sachs, JPMorgan, and Morgan Stanley, to pitch for roles in the IPO. This move indicates Strava's plans for further growth and expansion in the competitive fitness technology market.

Fitness tracking app Strava is gearing up for its initial public offering (IPO) in the United States, with a potential launch as early as the beginning of 2026. The company, valued at $2.2 billion following a recent funding round, has invited major investment banks including Goldman Sachs, JPMorgan, and Morgan Stanley to pitch for roles in the IPO process Strava seeking to hire banks for IPO: report | NYSE:MS^[1].

Strava's decision to hire investment banks indicates its strategic planning for further growth and expansion in the competitive fitness technology market. The company, founded in 2009 by Michael Horvath and Mark Gainey, has evolved from a cycling-focused app into a global fitness community with over 100 million users in more than 195 countries. Strava maintains offices in San Francisco, Denver, Bristol, and Dublin.

The appointment of Matt Anderson as chief financial officer in August 2025 is seen as a key step in preparing for the compliance and reporting requirements of going public. Anderson previously guided Nextdoor and Square (now Block) through their IPOs, bringing valuable experience to Strava's leadership team.

While Strava has not yet outlined fundraising targets or valuation goals for the IPO, the company's strong user base and market position suggest significant potential for investor interest. The IPO could provide Strava with the capital needed to invest in new features, expand its user base, and maintain its competitive edge in the fitness technology sector.