MapMyFitness Purchased by Under Armour
Last week, it was announced that national athletic clothing company, Under Armour, purchased Austin-based MapMyFitness for $150 million. The move by Under Armour shows a big step in catching up to its main competitor, Nike, in expanding their revenue stream into the realm of fitness tracking.
Nike already boasts more than 20 million users of its Nike+ applications, who utilize the fitness tracking capabilities through multiple devices like the Nike Fuelband and its accompanying smartphone apps that track your steps, runs, and other various workouts. Earlier this year, Under Armour released their first fitness tracking product, the Armour39, a heart-rate tracker the user wears around their chest that can track calories burned in addition to other Under Armour branded “points.”
MapMyFitness is the creator of various smartphone apps (MapMyRun, MapMyRide, MapMyWalk, MapMyHike) that track your workouts and even your routes through your phone’s location services. The small company of about 100 employees claim 20 million total users of their apps, with almost 700,000 daily app users around the globe. Many news outlets seem to think the purchase conveys that Under Armour is looking to improve its positioning with the Armour39 fitness tracker as well as move further into developing wearable, fitness-tracking technology.
Under Armour even hinted at the “future” of this technology in one of its recent television ads, seen here.
Wearable fitness tech seems to be the “it” thing right now. Nike recently unveiled their second-generation Fuelband, and other companies like Jawbone and Fitbit have released updated versions of their fitness-tracking bracelets to the public.
Do you own and use a wearable fitness tracker? Or even just a fitness-tracking app like MapMyRun or Nike+? Tell us what you think of the technology, and where you think it’s going in the future.