MapMyFitness acquired for $150M

Nov 14, 2013
Austin Business Journal

MapMyFitness Inc. has been acquired by sports equipments giant Under Armour Inc. for $150 million

The Austin-based MapMyFitness will continue to operate in Austin as a division of Under Armour. The deal is scheduled to close by the end of the year, officials said Thursday

MapMyFitness, which was founded in 2007 in Denver, develops location-based applications for users to track and share exercise plans. The company moved to Austin in 2010 after receiving a $5 million investment from Austin Ventures LP, and it disclosed plans to seek $3 million in financing from North Carolina-based Square 1 Bank

It now employs 97 workers and claims 20 million members

In June, MapMyFitness completed a $5 million financing from a lone investor, according to a filing with the U.S. Securities and Exchange Commission

Last year, it completed a $9 million Series B round of funding from a syndicate of investors that included the San Diego-based Competitor Group Inc., Indianapolis-based Running Specialty Group LLC, New York-based Milestone Venture Partners and Austin Ventures

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