Beneath Armour Snatches Up Nicely being And Well being Trackers Endomondo And MyFitnessPal
Endomondo, a social well being group and author of mobile apps that let clients to hint their workouts and drawback buddies, and nicely being tracker MyFitnessPal have been acquired by athletic apparel maker Beneath Armour, the company launched this afternoon.
Endomondo was bought for a purchase order order value of $eighty 5 million and MyFitnessPal was bought for $475 million. The companies had 20 million and eighty million clients, respectively.
The Endomondo deal was reported earlier instantly by a variety of Danish info retailers, and is predicted to be even be detailed by Beneath Armour on Wednesday as a result of it research its fourth-quarter earnings.
Copenhagen-based Endomondo was based mostly in 2007 by well being lovers Mette Lykke (CEO), Christian Birk, and Jakob Jønck, and grew its social well being tracker app and group to spherical 10 million registered clients by 2012. By 2013, the company reported passing 20 million clients and reaching profitability.
The Endomondo app, which is on the market on iOS, Android, Residence home windows Phone and Blackberry, is principally like having a personal coach in your pocket, the company has touted, and is designed to hint train like strolling, working, biking and totally different distance sports activities actions. The app can be a part of with fairly a couple of models and sensors to strengthen the data it collects, along with the Fitbit, as an example. A social issue comes into play when Endomondo clients be a part of with buddies and totally different group members on the app’s group, letting them get hold of motivation and encouragement with regard to their workouts.
Agency co-founder Mette Lykke has, so far, attributed the service’s shopper progress payment the facility of its social networking parts, calling it a “key driver.”
To date, Endomondo had raised $eight.2 million in outside funding from SEED Capital and totally different angels, based mostly on Crunchbase.
Within the meantime, San Francisco-based MyFitnessPal, based mostly in 2005 by Albert Lee and Mike Lee, has eighty million clients. It presents a utility for patrons who want to watch their properly being and well being goals, whereas moreover providing dietary information for over 5 million meals and offering caloric information associated to tons of of exercises. eighty% of the service’s clients are outside the U.S., which Beneath Armour says was advantageous for establishing a world presence for its “Associated Well being” group, which now expands to at least one hundred twenty million clients.
These worldwide clients have been potential, partially, the outcomes of MyFitnessPal’s enlargement remaining yr into Asia, with localized apps for China, Japan and Korea.
MyFitnessPal had $18 million in funding and was backed by Accel Companions and Kleiner Perkins Caufield & Byers.
Every firms will proceed to perform out of their respective headquarters at the moment.
The Endomondo acquisition completed in January 2015, and the MyFitnessPal deal will shut in Q1 and could be funded by means of an expanded time interval mortgage and revolving credit score rating facility combined with cash out there.
These are not be the first tech agency acquisitions by Beneath Armour – in 2013, the company bought MapMyFitness for $100 fifty million in an effort to hurry up its plans to enter into the biometric measurement space. The company at current now sells a variety of “MapMyRun”-branded screens and models, and has been focused on creating an enormous associated well being platform with 31 million clients.
“Beneath Armour’s demonstrated worldwide administration in properly being and well being innovation is tremendously enhanced with the addition of Endomondo and MyFitnessPal, as we proceed to redefine and elevate the Associated Well being experience for a whole lot of hundreds of people everywhere in the world,” said Kevin Plank, Chairman and CEO of Beneath Armour in a launch.
“Identical to MapMyFitness, Endomondo and MyFitnessPal have established monitor knowledge of unmatched equity, expertise and keenness inside the well being and vitamin space, they usually’re wonderful companions to permit Beneath Armour to supply information-pushed, proactive choices to help athletes of all ranges lead extra wholesome and additional vigorous life,” he well-known.
Beneath Armour says now that the utilized sciences offered by the two apps is perhaps used to extend its Associated Well being platform with additional belongings and choices, along with a a calorie counter, vitamin and practice tracker.
Breaking…refresh for updates.