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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?”
MapMyFitness apps were numbers 97 and 101 in the Apple App Store
“We actually had about a million users on the web even before the iPhone launched, but map my run and map my ride were app number 97 in the store and number one oh one.”
MapMyFitness generated $5M in SaaS API licensing revenue before exiting
“So we also had a SaaS business when Under Armour bought us that was, you know, it was significant. It was, you know, five plus million dollars in SaaS revenue that we had built off the top of the platform.”
MapMyFitness generated $5 US monthly ARPU versus under $0.30 internationally
“We were doing, I think we were roughly about five bucks per user in the U.S. And less than 30 cents outside the U.S.”
MapMyFitness planned a $50M to $100M Series D before exiting
“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.”
MapMyFitness sought a $200M to $250M pre-money valuation before its exit
“We were trying to raise over 200. So like we were pretty set on that, that number had to be two to two 50.”
Under Armour had only 20 software engineers total in 2013
“Under Armour was, you know, what Kevin will say is that they were in this moment where, like, they only had about 20 engineers in the entire company. Most of them were e-commerce because they had a fairly, you know, fairly large e-commerce business in 13.”
Under Armour announced its MapMyFitness acquisition under three months after initial contact
“We literally, day, day Kevin called me to basically the public announcement, which was not the actual close date, but the public announcement for a public company is a very important date. It was less than three months.”
MapMyFitness burned $200,000 to $300,000 monthly prior to its acquisition
“We were getting, like, I would say maybe 200 K, 300 K. It wasn't a terrible burn.”