Strava, an exercise-tracking app last valued at $2.2 billion, is benefiting from Gen Z’s obsession with run clubs and marathons and is looking toward a future IPO, according to its CEO.
Michael Martin, who took the helm in 2024 from cofounder Michael Horvath, told the Financial Times the company has the “intention to go public at some point,” and noted a public listing “provides easy access to capital in case we wanted to do more and bigger acquisitions.”
Martin declined to provide more details to the FT on when the company would go public.
The company already acquired U.K.-based coaching app Runna and cycling training app the Breakaway for undisclosed sums in 2025. Those personalized coaching offerings—when combined with the app’s social features that allow users to track their friends’ workouts and give digital “kudos”—have likely increased Strava’s following among tech-savvy youth.
Strava has also benefited from Gen Z’s preference for healthier lifestyles, as evidenced by the explosion of protein lattes and the slow death of boozy nightclubs. The app fits conveniently into young people’s increasing desire to disconnect, prioritizing “analog” experiences and creating separation from social media with the help of $40 physical app blockers.
Running, though, has become Gen Z’s latest fixation, as many see the activity as a way to connect with others while also staying fit. While young people reportedly feel burned-out from dating apps, Strava’s Year in Sport: Trend Report for 2025 found that Gen Z was 39% more likely than Gen X to use fitness to “meet people who share their interests.” New running clubs on the platform also increased by 3.5-fold, according to the report.
But running isn’t just for socializing. The New York City Marathon also attracted a record 200,000 lottery applicants for its race in November, up 22% from 2024.
Strava’s user data show just how much the company has benefited from the recent cardio craze. The company said it had 180 million users as of December, up from the more than 150 million users it claimed as of August last year.
While it’s unclear when Strava may go public, it has already invited banks such as Goldman Sachs and JPMorgan to pitch it for participation in a potential IPO, Reuters reported.
Horvath teased the possibility of an IPO before he stepped down as the company’s leader in 2023. He claimed the person who would replace him as CEO would need a different skill set for navigating the company’s “next chapter.”
On going public, Horvath also said in 2022: “It’s a means to an end, and it’s something we would consider at the right time.”
A version of this story originally published on Fortune.com on Oct. 13, 2025.
More on Gen Z:
- Gen Z Olympic champion Eileen Gu says she rewires her brain daily to be more successful—and multimillionaire founder Arianna Huffington says it really does work
- Analog-obsessed Gen Zers are buying $40 app blockers to limit their social media use and take a break from the ‘slot machine in [their] pocket’
- Gen Z and young millennials are the only ones feeling good about the economy. Everyone else is worrying about trade and inflation
