Austin App Now Under Under Armour Umbrella
One of the world's leading purveyors of workout gear announced last week that it would acquire an Austin-based app, MapMyFitness.
MapMyFitness, which was part of Austin Startup Week 2011, is the company behind such workout-tracking apps as MapMyRun and MapMyRide. It boasts more than 20 million registered users, which is undoubtedly attractive to its new owners, but there's another key value too.
"Innovation has always been at the core of our company," said Under Armour founder and CEO Kevin Plank in a press release. He's not kidding: The sweat-wicking shirts the company's known for changed the game for sweaty athletes the world over, and imitation products from Nike, Reebok, et al. followed quickly.
With a leading fitness app in their pocket, "we are better positioned to design open, digital products for the athlete of tomorrow and become more proactive in providing solutions that will help people across the world lead healthier lifestyles," he continued. So if you thought your humble-bragging, fitness-loving friends were dominating your Facebook feed with workout details before, just wait until you see what they can do with Under Armour's backing.
The acquisition will run UA $150 million and should be finalized by year's end. And though Plank's company is based in Maryland, MapMyFitness will retain its headquarters right here in the Silicon Valley of the South.