MapMyFitness planned a $50M to $100M Series D before exiting
Robin Thurston · From 0 to 20,000,000 Users and a $150,000,000 Exit to Under Armour, EP 261: Robin Thurston · Jun 6, 2016 · at 9:14
Robin Thurston, co-founder and former CEO of MapMyFitness, discusses the company's fundraising plans in 2013 before Under Armour acquired them for $150 million.
0:00 / 0:12exact quote · 12.3s
720p mp4 · rendered on demand · StarZero watermark
“We were kind of in the process of looking at raising 50 to a hundred million and kind of rolling up some of the market and going after it in a bigger way. We had a number of VC firms that had basically come to us looking to do that series D.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Robin Thurston
MapMyFitness acquired 100% of its users organically without paid ad spend
“So, you know, we never really spent any money on acquisition. So we were very, very lucky to acquire, you know, really a hundred percent of our user base through organic, you know, sort of connections.”
MapMyFitness generated $17M in trailing revenue when acquired by Under Armour
“We had an advertising business when Under Armour bought us, I think it's public. We were about seventeen million in revenue.”
Under Armour ignored MapMyFitness revenue, buying it purely for the user community
“It wasn't, they didn't even care about the revenue. Under Armour was like, we don't really care about any of those businesses. Like, we want to build a community. We have a vision around health and fitness.”
Under Armour CEO Kevin Plank initiated acquisition talks as an active user
“Kevin Plank called me in the middle of the whole thing. He called me. He was a user of map my run using it three days a week. And he basically originally just called, he was like, what are you doing with the business?”