November 2, 2020
Under Armour announced late last week that it is selling off MyFitnessPal to investment firm Francisco Partners for $345 million – a fair bit lower than the $475 million it paid for the connected fitness app and platform back in 2015.
The deal is set to officially close in the fourth quarter, and its value is inclusive of potential earn-out payments. The selloff comes roughly three years after...
December 5, 2017
Under Armour announced a number of executive changes that affect the sports apparel company’s Connected Fitness business, including the departure of MyFitnessPal founders Mike and Albert Lee, the company’s Chief Digital Officer and SVP Digital Product, respectively.
“We're appreciative of the nearly three years that Mike and Al have fully and generously served at Under Armour following the...
February 22, 2016
February 12, 2016
Beginning in 2013 with Under Armour’s MapMyFitness acquisition, a number of retailers have acquired health or fitness app companies. Under Armour itself bought two other health apps. And in the past couple years, there have been at least three other retailers that made health app acquisitions, including The Honest Company, Adidas, and Asics.
The Honest Company is an online retailer, Adidas, Asics...
July 27, 2015
In the company’s second quarter earnings call, Under Armour CEO Kevin Plank told investors that Under Armour is the ideal company to create a connected health dashboard for consumers.
“The fact that consumers have no barometer for their health today is a mistake and frankly that’s where we see this massive opportunity and we feel we’re the best ones to take advantage of it,” Plank said. “Really...
April 22, 2015
Under Armour continues to grow its membership base for what it's calling its Connected Fitness business -- the three apps the company acquired in the past two years as well as its existing UA Record app -- even as the company explores its new acquisitions and plots a course forward, according to the company's first quarter earnings call. Under Armour bought MapMyFitness for $150 million in...
March 16, 2015
Boston-based weight loss app company Lose It! says it plans to take its service international some time in 2015, according to a report in Boston Business Journal. The company's app currently counts 24 million users in the US and Canada, but new markets, including Europe, Asia, Australia and New Zealand are among those that could go live this year.
Notably, earlier this year Under Armour acquired...
February 17, 2015
Last week Under Armour held an analyst day focused on its digital fitness strategy that included appearances by Under Armour founder and CEO Kevin Plank, MapMyFitness CEO Robin Thurston, MyFitnessPal CEO Mike Lee, and Endomondo CEO Mette Lykke. Under Armour acquired MapMyFitness in 2013, and it acquired both MyFitnessPal and Endomondo earlier this year.
Plank discussed the high level strategy...
February 6, 2015
When Under Armour bought MapMyFitness for $150 million in November 2013, Under Armour CEO Kevin Plank specifically told the Wall Street Journal it was not the start of an acquisition spree. This week, Under Armour changed that tune when it spent an additional $560 million to buy MyFitnessPal and Endomondo, giving the company a major foothold in food, nutrition, and fitness tracking as well as in...
February 5, 2015
At the end of 2014 NBCUniversal launched a new digital fitness offering, called Radius. The multi-platform service provides consumers with unlimited access to fitness videos for a weekly, semi-annual, or annual subscription.
The media conglomerate's fitness app, available on iPads and iPhones, is part of a multi-platform fitness offering from the company. Subscribers can also access Radius via...