Exercise-tracking giant Strava has said it could list on Wall Street to enable it to make bigger acquisitions.
The company, which was valued at $2.2billion following a funding round in May this year, was founded in 2008 but took off during the coronavirus pandemic, taking advantage of a spike in the number of people engaging in outdoor activities.
The San Francisco firm has managed to maintain that momentum since.
And now, its chief executive Michael Martin has told the Financial Times that floating "at some point" would “provide easy access to capital in case we wanted to do more and bigger acquisitions”.
Boasting 150 million users across 185 countries, Strava has already acquired cycling training app The Breakaway and coaching app Runna, which it bought in April for an undisclosed sum.
It has been reported Strava recently approaching a number of bankers to pitch for roles on the initial public offering.
FTSE100
The UK's flagship share index, the FTSE 100, was down 48 points at 9,404 shortly after opening this morning.
Brent crude oil futures were down 0.79% at $62.84 a barrel.
Companies reporting today
- Ashmore - Q1 Assets under Management
- IntegraFin Holdings - Q4 Trading Statement
- Ninety One - Q2 Asset Under Management
- Target Healthcare - Full Year Results