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STRAVA Gets more Funding
Well. Panic over. They’ve just managed to secure a cool $110m from TCV, Sequoia Capital and other smaller investors in a Series F (6th) round of funding. The current capital injection is almost three times the previous funding rounds combined ($42m).
This is good news for us STRAVA users as the company is guaranteed to keep rolling along.
If you were looking for a step-change at STRAVA or a boosting of free features in exchange for on-site advertising then I’m not sure there is enough here for us to expect a quantum change in STRAVA’s continuing but incremental push to get more paying subscribers onboard. Although STRAVA does say,
This financing will help the company build more features that athletes love, support its global community and expand to better serve more athletes
STRAVA now also claims a total of 70 million users and has grown at 2 million users/month during 2020.
The first post, below, expands on this subject a little more. For example, looking at who would actually be able to buy STRAVA were it to be worth $1bn and concluding that the end game for existing shareholders could be an IPO. But, for that to happen, there needs to be a sustainable & growing revenue stream from subscribers and/or advertisers.
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