Strava Bicycle App Gets $ 18.5 Million
The famous Strava bicycle application plans to expand its presence in the market and add opportunities for fans of other sports using a new portion of investments worth $ 18.5 million from a company with venture capital Sequoia Capital. The partner of this company, the famous financier Michael Moritz, became a consultant for Strava. Moritz believes that Strava was able to achieve its current success due to the fact that it actually functions as a sports social network, like Facebook and others.
Strava's Chief Executive Officer, Mark Gainey, told the media that 75 percent of San Francisco-based users reside outside the United States. This service is extremely popular among cyclists, but about 30% of users track their running activities with it, and another 10-15% record their hiking, skiing, weight training, swimming and even yoga.
Gainey did not say how many users Strava has and how many of them pay annually for a premium service package that costs $ 59 per year. It is known, however, that the company, founded in 2009, today helps to record about 3 million sessions of physical activity per week for its users.