Mobile fitness company Runtastic has been purchased by Adidas in a deal which is worth $239 million.
Runtastic started in Austria in 2009 and its fitness tracking devices have become popular as has its mobile tracking app.
The company’s mobile app has more than 70 million users and their app has been downloaded more than 140 million times.
Runtastic’s Growth and Popularity
Runtastic’s journey from a small startup in Austria to a global fitness tracking powerhouse is nothing short of impressive. Founded by a group of fitness enthusiasts, the company quickly gained traction with its innovative approach to fitness tracking. The app offers a comprehensive suite of features, including GPS tracking, workout logging, and personalized fitness plans, which have resonated with users worldwide.
The app’s popularity can be attributed to its user-friendly interface and the ability to integrate with various wearable devices. This seamless integration allows users to track their fitness activities in real-time, providing valuable insights into their performance and progress. Additionally, Runtastic’s social features enable users to share their achievements with friends and family, fostering a sense of community and motivation.
Adidas’ Strategic Acquisition
The acquisition of Runtastic by Adidas is a strategic move aimed at strengthening Adidas’ position in the digital fitness market. With the rise of wearable technology and fitness apps, traditional sportswear companies like Adidas are increasingly looking to expand their digital offerings. By acquiring Runtastic, Adidas gains access to a vast user base and a wealth of data that can be leveraged to enhance their product offerings and create more personalized experiences for their customers.
Runtastic will continue to keep its offices in San Francisco and Austria, and the company will continue to develop the application. Apparently, there are some major new features on the way. This commitment to innovation is evident in the words of Florian Gschwandtner, Runtastic CEO and cofounder, who stated:
“There are so many more ideas, products, and optimizations we’re working on, and we don’t plan on stopping anytime soon,” said Florian Gschwandtner, Runtastic CEO and cofounder. “Yes, we promise to keep you guessing and on the edge of your seats!”
“Both companies firmly believe that together we can build a unique product portfolio and unparalleled customer journey for our existing community members and future users,” he added.
The collaboration between Adidas and Runtastic is expected to bring about a new era of innovation in the fitness industry. By combining Adidas’ expertise in sportswear and Runtastic’s technological prowess, the two companies aim to create a holistic fitness ecosystem that caters to the needs of modern fitness enthusiasts. This could include the development of new wearable devices, enhanced app features, and more personalized fitness plans.
Moreover, the acquisition aligns with Adidas’ broader strategy of embracing digital transformation. In recent years, Adidas has made significant investments in digital technologies, including the launch of its own fitness app, Adidas Running, and the development of smart footwear. The integration of Runtastic’s capabilities is expected to accelerate these efforts and position Adidas as a leader in the digital fitness space.
The acquisition of Runtastic by Adidas marks a significant milestone in the evolution of the fitness industry. With Runtastic’s innovative technology and Adidas’ commitment to excellence, the future looks promising for fitness enthusiasts around the world. As the two companies continue to collaborate and innovate, we can expect to see exciting new developments that will redefine the way we approach fitness and wellness.
Source Venture Beat
Latest Geeky Gadgets Deals
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
