Strava acquires UK running app Runna in multimillion-pound deal

Reina, the London training application that helps the contestants build customized training plans, has been received by Strava in the United States in a deal that is expected to present a day of millions of pounds for its participating founders.

Although the conditions of the deal are still not announced, it is understood that the first investors are ready for relief – have received returns up to 30 times their original investments.

Ranna was founded slightly more than three years ago by the friends of the university Bin Parker and Dom Maskal. What started as a dedicated training order between the two has grown to a team of 150 fuss with support from prominent investors including Jar Jar Investments, the investment capital fund launched by the founders of innocent drinks. The application, which was launched to the public in March 2022, collected 8 million pounds so far.

The acquisition is the first purchase in the UK in Stroter. The value of the company, which includes more than 150 million users in 185 countries, was $ 1.5 billion after a 2020 financing round led by Sikoya Capital. As the fastest growing activity on Strava-more than a billion operating was registered on the platform last year-Runna technology is a strong supplement to the Strava widening ecosystem.

Michael Martin, CEO of Strava, who won the reins in January 2024, praised Ronna’s approach to users in training “for contestants, it comes to their goals-I want personal directives. Strava was not strong in that space. Runna is a prominent platform, with the best features of the branch.

The story of the origin of Ranna is the story of organic growth and smart self -control. MASKELL initially pushed Parker, a professional operating coach, 80 pounds a monthly £ for plans specifically designed with PACE goals and regular sessions. After admiration for the results, Maskell began developing a program version – just to realize that he lacks experience in athletics. Parker called for joining the project and by mid -2011, the husband left their jobs and received 100,000 pounds of financing the owners from the previous girl and sports in Chelsea, Joshua Patterson. The subsequent group financing round collected 484,000 pounds.

Since its launch, Runna has been said to have witnessed “constant and consistent” growth, with more than 3000 subscribers paid in 2023. The monthly subscription costs 15.99 pounds, while the annual plans price is 99.99 pounds.

It is important, Ronna has been profitable since 2023 – a homosexual in the technological space. Although the investment capital is raised, the company says it has been very self -funded through subscriber’s revenues.

“We raised the jar of the jam, but we barely touched it,” Masskel said. “We had many offers to raise larger rounds, but we rejected them. The great financing drives you to excessively spend and grow in an ineffective way. We prefer employment only when there is a real need.”

This philosophy has been translated into solid financial data. Ronna’s latest accounts, which were presented in January 2024, showed 8.2 million pounds.

After the acquisition, Runna will keep its base in London and plan to continue the international expansion. He already has a small team in Boston and was looking for the West Coast office before the Strava deal. Strava, its headquarters in San Francisco, recorded 275 million dollars in 2023.

Martin stressed that the year 2024 has already exceeded expectations: “It was the most successful years in the history of Strava. We are witnessing 50 percent growth on an annual basis in new-users-the fastest since the epidemic. It puts us in obtaining our perfect Ronna to build on this momentum.”

The deal indicates a shift in how digital fitness platforms develop – through negative tracking to active training. For the founders of Runna, it is the verification of the validity of their vision and a major teacher on their journey from the side project to the global acquisition.