6/30/2023 0 Comments Under armour myfitnesspal appUnder Armour will pay for the MyFitnessPal deal through bank loans and cash on hand. Endomondo has raised $8.2 million from angel investors and the investment firm Seed Capital, according to Crunchbase. Invested $18 million in MyFitnessPal in 2013, with each taking a seat on the board. Accel Partners and Kleiner, Perkins, Caufield & Byers Those prices will provide decent exits for the companies’ existing investors. The deals value MyFitnessPal at $475 million and Endomondo at $85 million. Have established track records of unmatched equity, expertise and passion in the fitness and nutrition space, and they are ideal partners to enable Under Armour to provide data-driven, proactive solutions to helpĪthletes of all levels lead healthier and more active lifestyles.” “Similar to MapMyFitness, Endomondo and MyFitnessPal “Under Armour’s demonstrated global leadership in health and fitness innovation is greatly enhanced with the addition of Endomondo and MyFitnessPal, as we continue to redefine and elevate the Connectedįitness experience for millions of people around the world,” Kevin Plank, Under Armour’s chairman and chief executive, said in a statement. And Endomondo,Ī Danish start-up that aims to be a virtual fitness coach, says that it has 20 million registered users, 80 percent of whom live outside the United States. MyFitnessPal, which lets users track their diet and workouts through a smartphone app, boasts more than 80 million registered users. The transactions will drastically expand the company’s online base. Together, the deals are the latest move by Under Armour to create an athletics-minded online network, an effort that began with the 2013 acquisition of MapMyFitness for $150 million. The company announced on Wednesday that it had agreed to buy two makers of fitness-tracking apps, MyFitnessPal and Endomondo, for To expand its fitness empire, Under Armour has again looked
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