Fitness tracking platform Strava is preparing for a U.S. IPO, with a valuation of $2.2 billion. Top banks like Goldman Sachs and Morgan Stanley are in talks for the offering. The popular app, founded in 2009, has seen a surge in users during the pandemic, allowing athletes to connect and compete globally.

The listing could happen in early 2026, depending on market conditions. Strava has not finalized the amount it plans to raise or its valuation for the IPO. With the recent hiring of a CFO and increased IPO market activity, the company seems to be on track for a successful public offering.

Strava’s founders, who met at Harvard University, have built a platform with over 150 million active users worldwide. The app combines social networking with fitness tracking, allowing users to measure and share workouts, give kudos to friends, and compete with elite athletes. The company’s popularity has soared in recent years.

Strava’s recent funding round was led by Sequoia Capital, Square Ventures, TCV, and Go4it Capital Partners. Despite declining to comment, top banks like JPMorgan are vying for roles in the IPO. The company has yet to comment on the news or provide further details on the offering.

The San Francisco-based company, founded in 2009, operates globally with users in 185 countries. The platform has become a staple for athletes looking to track and share their fitness activities. With the potential IPO on the horizon, Strava is poised to capitalize on its growing user base and market potential.

Read more at Yahoo Finance: Exclusive-Fitness tracking app Strava looks to hire banks for IPO