O’Melveny Advises Strava in Acquisition of FATMAP1월 24, 2023
FOR IMMEDIATE RELEASE
SILICON VALLEY—January 24, 2023—O’Melveny advised long-time client Strava, the leading subscription platform at the center of connected fitness, in its acquisition of FATMAP, a mobile app for discovering, planning, navigating, and memorializing outdoor adventures. The transaction was announced on January 24.
With more than 400 employees across seven offices worldwide, Strava offers a holistic view of people’s active lifestyles, no matter where they live, which sport they love and/or what device they use. Strava supports 50 different activity types and has more than 100 million active people in 195 countries.
Founded in 2013 in Europe, FATMAP helps millions of people around the world enjoy better, safer outdoor adventures. The company’s cutting-edge 3D map allows its community to plan, track, and share their adventures. FATMAP’s team members will join Strava’s workforce across the European continent, including offices in Chamonix, Berlin, and Vilnius.
O’Melveny assembled a cross-border team to advise Strava, led by London M&A partner Sevda Staykova and Silicon Valley M&A partner David Makarechian, head of the firm’s Emerging Technologies Group. The O’Melveny team also included London M&A counsel Benjamin Finger and associates Emma Drysdale and George Duncan.
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Strava issued the following announcement via PR Newswire:
Strava Acquires Outdoor Adventure Platform, FATMAP
SAN FRANCISCO, Jan. 24, 2023 /PRNewswire/ -- Strava, the subscription platform at the center of connected fitness, announced the acquisition of FATMAP, a mobile app for discovering, planning, navigating and memorializing outdoor adventures. The acquisition will give Strava subscribers access to the full FATMAP offering.
The acquisition is part of Strava’s ongoing investment to provide a best-in-class digital experience for people who are striving for an active lifestyle. FATMAP has built a global proprietary 3D mapping technology that will be enabled in all of Strava’s services, empowering active individuals to holistically discover and plan an outdoor experience with curated local guides, points of interest and safety information.
“In 2022, nearly 10 million routes were saved and recommended by active individuals around the world on Strava. Maps and tools are powerful unlocks to deliver daily value and motivate our active community,” said Michael Horvath, CEO and co-founder of Strava. “We have a shared vision with FATMAP to inspire more people to move by empowering them to discover and experience the joy of the outdoors. For us, the opportunity to reimagine the purpose of maps and how they inspire exploration is an outsized advantage for a differentiated outdoor experience.”
Designed specifically for trails and exploring the outdoor world, FATMAP’s technology enables people to safely discover, navigate and share adventures, even without a mobile connection. FATMAP’s community of hikers, mountain bikers, skiers and trail runners are already active in over 100 countries around the world. Paired with Strava’s data set of more than 8 billion activities, the acquisition will enable a universal map for human-powered experiences whether moving on the slopes, trails, city streets or suburban neighborhoods.
Based in Europe, FATMAP was founded in 2013 by Misha Gopaul and David Cowell and has nearly 50 highly skilled team members that will join Strava's workforce across the continent including offices in Chamonix, Berlin and Vilnius. Gopaul will shift from his current role as FATMAP CEO to serve as a Strava vice president of product, reporting to Steve Lloyd, Strava’s chief product and technology officer.
Gopaul said: “We started FATMAP with a mission to make outdoor experiences more accessible. Where other map platforms have been designed for navigating streets and cities, we wanted to build a map designed specifically to help people explore. Joining forces with Strava opens up new exciting possibilities and will accelerate our progress to enable millions more people to explore the world's wild places, safely and sustainably.”
This acquisition follows last year's product enhancements from Strava, including the introduction of new trail sports types and its enhanced suite of routing features to help active people explore and power their adventures. It is also the second acquisition since summer 2022, when the organization acquired Recover Athletics, a prehab and injury prevention app for active individuals. These additions reinforce its steady technology investments to provide active individuals with higher value and access to more tools to plan, motivate and power an active lifestyle on a singular platform.
Strava also recently announced 9 new sports types, including racquet sports, pilates and HIIT. Now supporting 50 different activity types, the community platform continues to grow subscriber benefits, such as ski area mapping, Recover Athletics pre-hab content, Beacon safety tracking, route recommendations, an online route builder, global and personal heatmaps, and segment leaderboards. With these product upgrades, Strava has enacted a price change to reflect the increased benefits. These updates aim to deliver daily value to active people around the world.
For more information on Strava or to start a free subscription trial visit www.strava.com.
Strava is the leading subscription platform at the center of connected fitness, with more than 100 million active people in 195 countries. The platform offers a holistic view of your active lifestyle, no matter where you live, which sport you love and/or what device you use. Everyone belongs on Strava when they are pursuing an active life. Join the community, find motivation and discover new experiences with a Strava subscription.
Our favorite stats:
- More than 8 billion activities shared on Strava
- Active individuals in every country on Earth
- 40 million activities uploaded per week
- Over 30 million Segments
- Over 3,000 professional athletes on Strava
- Almost 10 billion Kudos given last year
- Over 10 million photos and videos shared per week
- Over 2,000 partner organizations making their communities better with Strava Metro
- 400+ employees around the world, with seven offices across the globe:
- Berlin, Germany
- Bristol, UK
- Chamonix, France
- Denver, CO
- Dublin, Ireland
- Vilnius, Lithuania
FATMAP helps millions of people around the world enjoy better, safer outdoor adventures. With its cutting-edge 3D map the platform allows its community to plan, track and share their adventures. For those looking for adventure inspiration, there are thousands of professionally curated routes and guidebooks, covering a range of mountain activities. With FATMAP Explore, members can unlock premium features and benefits so they have everything they need to make the most of their time in the mountains. Whether hiking, biking, trail running, ski touring, or freeriding, if you love mountain adventures you'll find your community on FATMAP.