Strava is looking for a new CEO after Michael Horvath announced his second resignation.
Horvath co-founded Strava in 2009 and led the company to surpass 100 million registered users last year and become one of the largest activity tracking social communities in the world.
After leaving Strava’s hot seat in 2013 for family reasons, Horvath returned as CEO six years later, along with co-founder Mark Gainey as chairman. Now, Horvath has stepped down from his role as CEO, saying the company is actively looking for a replacement and that the company needs another person to lead its next phase of growth. He says he feels
“As co-founder and CEO, making sure we choose the right path to that destination is just part of my job,” said Horvath. “Another part of him is always recruiting and supporting the right leaders at the right time.”
changing of the guard
Strava is primarily known for its use in the cycling and running sphere, allowing users to track and share their activities, but as it pursues further growth, it will expand its appeal to tangential outdoor activities such as hiking. and In fact, the company launched a new trail sports option last year, and a few weeks ago announced that it had acquired a European startup called Fatmap, which created his 3D mapping platform for mountains. Strava plans to integrate Fatmap into its core platform in the coming months.
Whenever there’s a change of guard at a big venture-backed tech company, it’s often a sign that something big is on the horizon. In fact, Strava has raised more than $150 million in funding over the past 14 years, and in the process he’s secured high-profile backers such as Sequoia Capital to ensure that Strava at least has an eye on an exit. It makes sense what you’re pointing at. Horvath said last year that he had no immediate plans for an IPO, but later revealed he would not rule out an IPO if it made sense at the time.
However, the official position at this point is that Horvath believes Strava needs a different set of skills to take it to the next level.
“What we got here isn’t quite what we got there,” Horvath said. “We decided Strava needed a CEO with the experience and skills to make the most of this next chapter.”
