“To make massive growth you need to take massive risks. Under Armour is doing just that by expanding into a whole new market with their acquisition of MyFitnessPal and Endomondo mobile apps.” – GC
Under Armour Rides High With Big-Ticket Fitness App Acquisitions by Nina Zipkin
Athletic performance gear brand Under Armour has some big-time aspirations — it wants to build “the world’s largest digital health and fitness community.” It has taken two steps toward that goal this week with the acquisitions of popular activity-tracking apps MyFitnessPal for $475 million and Endomondo for $85 million.
Both companies will keep their names and will continue to operate as usual. The San Francisco-based MyFitnessPal has more than 80 million registered users and was founded in 2005. Endomondo is based out of Copenhagen. It has a predominantly European user base that has grown to roughly 20 million people since its launch in 2007.
Read the full article at: Entrepreneur