Strava’s bumpy road to monetisation
With 100 million people, a 4.8-star rating (iOS) and a huge 8 billion activities posted, it is no surprise that Strava is one of the most popular fitness apps in the world.
They even have a Language Network Effect with the verb ‘To Strava’:They also have a super strong Data Network Effect whereby years worth of activity data, photos, progress charts are stored in the app, thereby retaining users as they’re locked in, creating a defensible moat for the business.
Currently rated #21 in Health & Fitness in the app store, Strava started as an app for cycling fanatics back in 2009.
Since then, its raised $151.9M, the latest round being a $110M series F in 2020 where the startup was valued at $1.5 billion. The team is currently around 500 and they’re growing: with seven roles open across the US and Europe (as of Sept 13th 2023), after some layoffs late last year.
But…what I am really interested in is monetisation.
How does an app in such a crowded space monetise and stay competitive? How do they drive premium subscribers with so many similar features to apps like All Trails, MapMyRide, Komoot & more?
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