Under Armour Rides High With Big-Ticket Fitness App Acquisitions
Athletic performance gear brand Under Armour has some big-time aspirations — it wants to build “the world’s largest digital health and fitness community.” It has taken two steps toward that goal this week with of popular activity-tracking apps for $475 million and for $85 million.
Both companies will keep their names and will continue to operate as usual. The San Francisco-based MyFitnessPal has more than 80 million registered users and was founded in 2005. Endomondo is based out of Copenhagen. It has a predominantly European user base that has grown to roughly 20 million people since its launch in 2007.
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The combined $560 million purchase should allow Under Armour to reach “over 120 million unique global consumers,” the company said in a about its fourth quarter financial results (Under Armour reported $895 million in revenue, up 31 percent from this time last year).
With the new deal, Mike Lee, MyFitnessPal’s co-founder and CEO, his users that “our products, services and team will remain the same. MyFitnessPal will still be free to use, you own your data and Under Armour will never sell it to any third parties.”
Related: Forget Wearables. This New App Wants to Make Your Brain Smart About Fitness.
Endomondo CEO and co-founder Mette Lykke in her company blog post that “we strongly believe our new partnerships will enable us to speed up our growth and deliver a more engaging and motivating user experience, at a rate we could only dream of before this.”
The move follows of Under Armour’s health tracking at the Consumer Electronics Show in Las Vegas in January. With UA Record, users are able to sync all of their different fitness apps into one dashboard to follow their progress, as well as connect and challenge other app users. In 2013, Under Armour bought MapMyFitness and unveiled an open developer platform called
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Athletic performance gear brand Under Armour has some big-time aspirations — it wants to build “the world’s largest digital health and fitness community.” It has taken two steps toward that goal this week with of popular activity-tracking apps for $475 million and for $85 million.
Both companies will keep their names and will continue to operate as usual. The San Francisco-based MyFitnessPal has more than 80 million registered users and was founded in 2005. Endomondo is based out of Copenhagen. It has a predominantly European user base that has grown to roughly 20 million people since its launch in 2007.
Related: Being Active Begins in the Office
