Below Armour Will Promote MyFitnessPal for a $130 Million Loss

Below Armour Will Promote MyFitnessPal for a $130 Million Loss

The MyFitnessPal app on an iPhone
Postmodern Studio

Below Armour is promoting its well-liked health monitoring platform MyFitnessPal to funding agency Francisco Companions for $345 million. The corporate mentioned in a press release that Below Armour desires to simplify its model, specializing in the “goal shopper – the Centered Performer,” and its “UA ecosystem.” The sale is predicted to undergo within the fourth quarter of 2020.

As TechCrunch speculates, it appears unlikely “focus” is the one cause Below Armour is promoting the health app. The corporate initially bought MyFitnessPal for $475 million 5 years in the past which suggests its’ promoting the platform at a $130 million loss.

The selection comes at a time when apps like MyFitnessPal face robust competitors from main gamers. Manufacturers akin to Apple have dominated the entry-level health market with the mix of the Apple Watch with Apple Well being. The corporate can be planning to launch its Apple Fitness+ subscription service earlier than the top of the 12 months.

After which there’s Peleton for many who wish to step up their health recreation. The corporate has fully dominated the “prosumer” market with its treadmills and bikes. It additionally presents a reasonably complete subscription service that doesn’t depend on its super-popular, but pretty costly {hardware}. The service presents stay lessons you can be a part of with others from all over the world.

MyFitnessPal consists of the MapMyFitness and Endomondo platforms. Nevertheless, Below Armour says that its MapMyFitness platform, which incorporates MapMyRun and MapMyRide, won’t be going away and can proceed to work for the foreseeable future. The identical can’t be mentioned for the Endomondo platform, which shall be sundown by the top of 2020.

Supply: PR Newswire through TechCrunch

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