Austin’s MapMyFitness Bought by Under Armour for $150M
MapMyFitness, an Austin, TX-based workout app company, is being acquired by the athletic apparel company Under Armour (NYSE: UA) for $150 million.
The Austin startup, which was founded in 2007, has about 20 million users for its most popular apps, MapMyRun and MapMyRide. By using GPS and other technologies, fitness apps like MapMyFitness help users map, record, compare, and share workouts.
“This partnership is about Under Armour enhancing our digital expertise to drive the future of performance innovation for the global athlete community,” Kevin Plank, founder and CEO of Under Armour in Baltimore, said this morning in a press statement. “We will build on the community of over 20 million registered users that MapMyFitness has cultivated in the connected fitness space, and together we will serve as a destination for the measurement and analytics needs of all athletes.”
MapMyFitness raised $9 million from Austin Ventures last year and has raised a total of $23 million. As a wholly-owned subsidiary of Under Armour, MapMyFitness will continue to operate out of its headquarters in Austin.