Under Armour, has announced the closure of Endomondo and taken the opportunity to announce the sale of MyFitnessPal app for 345 million dollars.
Interesting movement in the world of sports applications. Under Armour, the sportswear company, has announced the closure of Endomondo, one of the most popular fitness apps. In the same way, the company has taken the opportunity to announce the sale of MyFitnessPal, another well-known sport and healthy life app, for 345 million dollars.
According to the company, the goal is to reduce the complexity of the application ecosystem and focus on the development of the MapMyFitness platform. Regarding Endomondo, the application will stop working at the end of this year and user data will be deleted in March 2021. Those who want to continue accessing their data can do so by importing them from Endomondo to MapMyFitness.
Endomondo is a well-known sports application. It was created by Mette Lykke, Christian Birk and Jakob Nordenhof Jønck in Denmark in 2007. In 2011 the creators opened an office in Silicon Valley and in 2015 it was bought by Under Armour for 85 million dollars together with MyFitnessPal. At that time Endomondo served about 20 million users and MyFitnessPal about 80 million. Now it's time to say goodbye, at least to Endomondo. According to Under Armour:
"Under Armour will remove Endomondo from all application stores and no longer provide bug fixes or customer support for any version of the Endomondo application that remains on your device".
As for MyFitnessPal, Under Armour explains that it has over 200 million users and is looking for an independent company that can "continue a strong history of recurring revenue growth, organic user acquisition and a unique proposition for consumers. The transaction is valued at $345 million and is expected to close in the fourth quarter of 2020, although it is subject to regulatory approvals.
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Both MyFitnessPal and Endomondo are part of Under Armour's Connected Fitness segment, which also includes MapMyFitness, which consists of Run with MapMyRun, Walk with MapMyWalk, MapMyRide: Cycling with GPS and MapMyFitness Trainer. There are too many applications with similar objectives, so it makes sense that Under Armour wants to get rid of the two that today do not occupy to focus efforts and release assets.
In the words of Patrik Frisk, CEO of UnderArmour, this move allows "greater alignment with our long-term digital strategy" and "offers us investment flexibility to drive greater return and value for our shareholders over the long term. We'll have to wait and see who finishes MyFitnessPal. As for Endomondo, users who don't want to lose their data will have to migrate it to MapMyRun, which is also free and available on iOS and Android.