Strava Files IPO as Workout Tools Rival Garmin

Strava has confidentially filed for an initial public offering, with a potential listing as early as spring 2026, Reuters reports, and Goldman Sachs leading the process. The fitness app was valued at $2.2bn in a 2025 funding round, counts more than 180m annual users, and is pushing new features to boost subscription revenue as it prepares for public markets. A brief legal dispute with Garmin in late 2025 was dropped, likely to avoid complications ahead of the listing.

Strava has launched Instant Workouts, an AI-powered feature that gives personalised training recommendations to its user base. The update introduces weekly planning tools and invites comparison with Garmin’s Daily Suggested Workouts, raising questions about whether a platform-agnostic app can replace coaching features on dedicated sports watches.