It was back in 2015 that Under Armour bought the Danish-based website for $85 million USD. “In conjunction with this announcement, the company also announced that it would discontinue its Endomondo platform’s operations at the end of 2020.” In any case, Under Armour is pretty slim on details here, with only a mere single-line in the entire release noting the death of the platform, saying: Endomondo has largely been waning for a few years now, though ironically I’ve actually used it while doing my Samsung Gear fitness watch reviews over the last few years, because it’s the easiest app to get data out of properly. Now since Under Armour was busy cleaning house, they decided to put the Halloween knife into Endomondo. I’m sure in time we’ll find out what they plan to do with it. “MyFitnessPal supports over 200 million users in their ongoing health and fitness journeys and we are excited to partner with the business for its next stage as a standalone company to continue a strong history of recurring revenue growth, organic user acquisition and a unique consumer proposition,” -Christine Wang, Principal at Francisco Partners. Ultimately, Francisco Partners doesn’t provide much of a clue, given their statement is pretty non-committal: They do however have multiple healthcare investments already, and given MyFitnessPal leans heavily on food tracking and wellness, there may be some underlying IP or platform tie-ins that are of value there to them. Of course, that doesn’t mean they don’t already have investments in that area. Though heck, I wouldn’t have thought they’d find a buyer at that price, so I’d consider that a huge win if I was Under Armour.Īs for Francisco Partners, they’re an investment firm with a number of investments, though no obvious fitness ones based on their public portfolio. Under Armour has sold MyFitnessPal to Francisco Partners for $375 million – effectively a loss of $100m from what they bought it for.
However, there was a potential buyer for MyFitnessPal, which claims 200 million users (how many of them are active is an entirely different matter). Plus, I suspect there’s not likely a big buyer for MapMyStuff these days. Certainly they could carve it out, but I suspect they’re finding value there. Under Armour says that “The MapMyFitness platform, which includes MapMyRun and MapMyRide, remains a crucial element of Under Armour’s digital strategy, as does its connected footwear business.” – that’s likely because it now sells shoes which integrate directly into the MapMyRun app. However, the MapMyFitness world isn’t being sold off. Around the same time, it also bought the MapMyFitness empire, which included MapMyRun and MapMyRide, as well as MapMyDogWalk and numerous other sites you never knew existed. You might remember that was during the timeframe that Under Armour was basically buying every digital sports platform it could. Today Under Armour announced the sell-off of MyFitnessPal, which it acquired 5 years ago in 2015 for $475 million USD at the time they had 80 million users. In this case, Under Armour delivers on that premise with two pretty significant bits of news. And no better weekend to do that than leading into Halloween or an election early next week. It’s Friday, and that means it’s the time when companies dump bad news before the weekend.
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