Fitness monitoring app Strava has confidentially filed for an preliminary public providing in latest weeks, the Information reported on Thursday, citing individuals with direct information of the matter.
The San Francisco-based firm’s providing may come as quickly as this spring, the report stated.
IPOs are anticipated to choose up in 2026 as anticipated charge cuts increase investor confidence and threat urge for food, whereas a backlog of firms that delayed listings throughout a protracted authorities shutdown rushes to go public early within the 12 months.
Earlier this week, Brazilian digital financial institution PicPay filed for an IPO within the United States, after scrapping its preliminary plans in 2021 amid weak market circumstances.
Reuters reported final 12 months that Strava was trying to rent funding banks for its US IPO.
The firm was valued at $2.2 billion in a funding spherical accomplished in May. The financing spherical was led by Sequoia Capital, together with present traders equivalent to Jackson Square Ventures, TCV and Go4it Capital Partners, in response to PitchBook.
Founded in 2009, the health platform blends exercise monitoring with social networking, permitting customers to observe efficiency throughout a number of sports activities, set targets, share progress and keep motivated. Its reputation surged throughout the pandemic as health lovers embraced options equivalent to giving “kudos”, evaluating outcomes with buddies and measuring themselves towards elite athletes.
Strava’s IPO would offer a possible exit for a few of its longtime backers, together with Sequoia Capital and TCV, the Information report stated.
The firm didn’t instantly reply to a Reuters request for remark.
By Prakhar Srivastava
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