Fitness-tracking app Strava is preparing for a public listing, aiming to raise capital for further acquisitions, according to CEO Michael Martin, who told the Financial Times the company plans to list “at some point.” The San Francisco-based company, backed by Sequoia Capital, TCV, and Jackson Square Ventures, was last valued at $2.2 billion. Strava’s user base has surged to 50 million monthly active users in 2025, nearly double its closest competitor, with downloads up 80% year-over-year, according to Sensor Tower.
The app has benefited from a cultural shift toward health-conscious social activities, particularly among younger generations seeking alternatives to alcohol-centric socializing. Martin emphasizes Strava’s engagement model, which turns workouts into social currency through “kudos” and split comparisons. Sensor Tower estimates users spent over $180 million on subscriptions, a figure Strava notes likely underestimates total revenue, which also includes sponsored challenges and brand partnerships. The company’s growth positions it well for its anticipated Wall Street debut.
