Strava’s CEO said he is watching his space to see if
any interesting acquisitions come up.
- He said his Strava’s board is very supportive.
One company that Strava may look to acquire is Zwift,
a massively multiplayer online cycle
Fast-growing activity tracking app Strava is keeping an eye out
for potential acquisitions, according to the company’s CEO.
Strava is an app that has become wildly popular with fitness
enthusiasts who wish to record their runs and bike rides. The app
shows them how far they’ve been, where they went, and what
activities their friends have been doing, among other things.
James Quarles, who took over as Strava’s CEO earlier this year
after holding executive roles at Facebook and Instagram, told
Business Insider that he is considering potential acquisitions in
the next few years.
“We’re keeping a close eye on our space and looking for either
teams or technologies that could help us accelerate us towards
our vision,” he said. “I think our board are very supportive. If
we could find something that qualifies in what we’re setting out
to do in the next 2-3 years we would consider it but [there is]
nothing in pursuit at the moment.”
One potential acquisition that might make sense for Strava is
One keen cyclist I know said he’d be interested to know whether
Strava has any plans to acquire Zwift. [He’s a Zwift/Strava user
Zwift is a little like a giant social network for cyclists who
are training indoors on their bikes. It’s become more popular
with bike enthusiasts in recent months, who often share their
Zwift rides to the Strava app.
Quarles didn’t rule out a Zwift acquisition when Business Insider
asked him about it. Instead, he talked up the Zwift platform,
which upped its prices from £7.99 to
£12.99 a month in November.
“Zwift are a great partner of ours, you know, for several years
now, giving people the opportunity when it’s cold and wet outside
to come indoors with their training,” said Quarles.
“We’re also seeing a lot of people choose Zwift becuase it’s more
convenient frankly during the week. You’re not taking the time to
get all kitted out for an outdoor ride.”
In order to use Zwift, riders must connect their turbo — a
machine that cyclists use to train indoors — to a power meter or
bluetooth sensor that links to the Zwift app on their mobile,
tablet, or computer.
Once this is done, riders can create an avatar in the app and kit
them out with their favourite cycling gear and a dream bike,
before entering virtual races against other Zwift users. The
races take place in virtual worlds (Watopia, Richmond, and London
[representations of both real and fantasy places] and they can be
displayed on a TV in front of the turbo. Many riders link Zwift
accounts to their Strava accounts to keep track of their
Quarles added: “I think as we continue to expand from cycling to
running and now from running into indoor, you’ll see a lot more
partners like that, that don’t rely on the GPS track.”
Strava has raised $70 million (£52 million) from big name
investors including Sequoia Capital, which has made a name for
itself after spotting the potential of Apple and Google in their
early days and investing in them. The company employs
approximately 150 staff in San Francisco, with smaller teams in
New Hampshire and Bristol, in the UK.
Zwift did not immediately respond to Business Insider’s request