Jan 8 (Reuters) - Fitness tracking app Strava has confidentially filed for an initial public offering in recent weeks, the Information reported on Thursday, citing people with direct knowledge of the matter.
The San Francisco-based company's offering could come as soon as this spring, the report said.
IPOs are expected to pick up in 2026 as anticipated rate cuts boost investor confidence and risk appetite, while a backlog of companies that delayed listings during a prolonged government shutdown rushes
to go public early in the year.
Earlier this week, Brazilian digital bank PicPay filed for an IPO in the United States, after scrapping its initial plans in 2021 amid weak market conditions.
Reuters reported last year that Strava was looking to hire investment banks for its U.S. IPO.
The company was valued at $2.2 billion in a funding round completed in May. The financing round was led by Sequoia Capital, along with existing investors such as Jackson Square Ventures, TCV and Go4it Capital Partners, according to PitchBook.
Founded in 2009, the fitness platform blends workout tracking with social networking, allowing users to monitor performance across multiple sports, set goals, share progress and stay motivated. Its popularity surged during the pandemic as fitness enthusiasts embraced features such as giving "kudos", comparing results with friends and measuring themselves against elite athletes.
Strava's IPO would provide a potential exit for some of its longtime backers, including Sequoia Capital and TCV, the Information report said.
The company did not immediately respond to a Reuters request for comment.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shilpi Majumdar)
