Under Armour Buys Fitness App For $150 Million
Under Armour has acquired the app MapMyFitness for $150 million. MapMyFitness is a social-fitness app that lets users map bike routes, runs, other workouts and food intake, and share it amongst a community. The idea is to help individuals improve not only the physical abilities, but also their lifestyles, and to share the journey with friends.
MapMyFitness, founded in 2007, currently has 20 million registered users and nine million of those use it on a monthly basis.
Athlete biometric measurement is a new business we’re just getting behind,” Kevin Plank, Under Armour’s CEO, told the Wall Street Journal.
The digital fitness arena is growing rapidly. Sales of fitness devices, apps and services are expected reach $5 billion by 2016, up from $1.6 billion this year, according to research firm Gartner.
MapMyFitness is similar to Nike’s RunKeeper app, and the company also released FuelBand last year.