Strava lands $110M in new financing

…AKA the new Strava Bitching Thread. :crazy_face:

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In before all the people who don’t care about Strava write drawn out posts explaining why they don’t care about Strava

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:joy:

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:popcorn:

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Someone with insider knowledge may know but what is the current valuation of Strava?

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The company also reports that it has already added more than 2 million athletes per month during the current calendar year

Really? So, over 22 million additional subscribers for 2020? Wow, that’s some growth.

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Was wondering that too. They’ve got a fair number of investors now, and Series F funding. I’m wondering how diluted is the stock, and what are they projecting for IPO.

That does seem like a lot of growth for 2020 given their total user base is 70 million and they have been around for almost 15 years.

22 Millions…sure…the question is… How many are PAID users?

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what an odd press release:

Other than Series F financing, its devoid of any information.

Based on this article…about 2.4% of their user base in 2019.

$60m revenue / $60 year = 1,000,000 subscribers / 42m athletes = 2.4% subscriber rate

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My guess is that there are a lot more paid users than there used to be since they simplified the subscription model and made leaderboards and route planning part of the subscription service. Just did a quick scan of the people I follow and about two thirds are now paid subscribers (including me). A year ago that would have been more like one third. And I don’t recall anybody I know actually leaving the platform when they took leaderboards away.

I guess a lot of people realised the same two things I did. Firstly that there really isn’t an alternative to Strava as an activity-based social network (and covid may have put an extra emphasis on staying connected to friends and team mates virtually this year). And secondly that £50/year really isn’t much for an app that I use every day.

22 million new users is going to be largely covid driven. Certainly where I live the combination of remote working, gyms being shut, and a pandemic where excess weight seems to significantly increase your risk, has led to a huge increase in cycling, walking, running, etc. Lots of those people will have found their way to Strava.

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Great, more investors that will demand a 10x return on their money. Good thing that series A, B, C, D, E went so well with respect to profitability that this round will work for sure. With even more money to be paid back, my concern is that they will get even more aggressive about monetizing the platform.
That’s fine, but they are currently ‘essential infrastructure’ for many devices and services. Ie, the only automatic way to get uploads from Wahoo to Trainerroad is via Strava. (Please correct me if this is wrong) Strava has repeatedly proven they will cutoff (veloviewer) 3rd party integrations, or move previously free features behind a paywall, so I don’t want them.
This just re-affirms my desire to make them a completely optional part of my cycling data infrastructure. For that to happen, places like trainerroad will need to step up and provide an API for syncing, so that I can use services like intervals.icu without depending on strava.

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Quick scan - about 50% of the the 100+ people I follow are paid users. Have ridden with ~90% of the people I follow, so I do appreciate seeing their routes and keeping up on potential people to join on a ride. Surprisingly noticed 4 paid users that rarely post workouts, they just don’t cycle much anymore for various reasons. The power of auto-renewal I guess.

The post-ride Workout Analysis pic on free is better than what I recall seeing during my trial subscription this summer - maybe I have faulty memory on that. I’m very happy with the free account. Strava’s Series F investors apparently see a business model and investment justification, despite (or because of) what seems like a large number of free users.

Thankfully my cycling technology stack does not revolve around Strava. Strava is purely for socialization in my tech world.

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I will get this started… I am!

Next!

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I was!

Maybe again, but no motivation to pay at the current time.

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Free since joining in 2014. There just not that much on offer that would entice me to pay.

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Maybe NOW I can finally delete past goals? Put a ticket in back in 2016, still get emails when other people click agree on it.

They still get my money though, hope this keeps them strong.

I pay to support them since I get quite a lot of use and enjoyment out of the app. I like to be able to sort segments by fatass’ness. Only way I can get top 10 on a segment.

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Hope all users enjoy the product.

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$1B?