Under Armour to sell MyFitnessPal

Oct 30, 2020 · 1 min read
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Under Armour introduced this morning that it will be promoting MyFitnessPal to funding company Francisco Partners for $345 million, 5 and a 1/2 of years after obtaining it for $475 million. The corporation additionally introduced that it will likely be winding down the Endomondo platform which it additionally received on the equal time for $eighty five million.

In a press launch saying the news, Under Armour stated the cause for this selection became to simplify and attention its logo, preserving it aimed toward its “goal consumer – the Focused Performer” withinside the hobby of building “a singular, cohesive UA ecosystem.” The reality that Under Armour is promoting MyFitnessPal at a discount (now no longer even which includes 5 years of inflation and said MyFitnessPal consumer growth) suggests there’s extra to this than simply preserving attention.

It’s without a doubt proper that each MyFitnessPal (which claimed eighty million customers in 2015 at time of acquisition, and has over 2 hundred million customers consistent with today’s press launch) and Endomondo had been aimed toward extra informal and entry-stage health customers, who is probably running out for the primary time, or seeking to enhance their day by day health, however aren’t possibly education for persistence recreation competitions. Under Armour’s typical logo picture is extra related to expert athletics, and with an enthusiast/semi-seasoned clientele (or the ones desiring to that designation).