Strava, the popular social fitness app and community, is at a crucial point in its growth trajectory. After raising $150 million in venture capital over 15 years, the company has reached a significant scale but is facing challenges in further expansion. In February 2023, co-founder and then-CEO Michael Horvath announced his departure, stating that Strava needed a CEO with the experience and skills to navigate its next chapter. Michael Martin, a former YouTube executive and Nike digital product lead, was appointed as the new CEO. In his six months in the role, Martin has revealed plans to use AI to combat cheating on leaderboards and introduced new features to broaden Strava’s user base.
One of the features that Strava users had long been requesting was dark mode, which the company finally introduced. However, Martin explained that implementing dark mode was not as simple as flipping a switch due to the app’s complex architecture. The update required updating hundreds of screens and thousands of user experience controls. Despite the anticipation surrounding dark mode, Martin emphasized that it was not a game-changer for the business but rather a nice-to-have feature.
Martin outlined two primary focuses for Strava’s product development: building inclusivity for women and leveraging AI and machine learning. Strava aims to address the gender disparity among its user base by encouraging more women to participate in activities and engage with the platform. The company is also using AI to improve its services, such as detecting cheating on leaderboards and analyzing user data to provide performance insights.
In terms of Strava’s position as a social network, Martin clarified that the platform is not optimized for maximizing user engagement like traditional social media networks. Instead, Strava’s goal is to motivate users to be active in the real world. While the company values user data, it has committed not to monetize it and has made efforts to control how it is used. Strava offers its data to city planners and organizations to improve infrastructure but does not sell personal information for monetary value.
Regarding Strava’s future, Martin emphasized that he aims to maintain the subscription-based business model and not turn the platform into an advertising product. He brings experience in scaling products from his time at YouTube and understands the importance of building new features within an established framework. While Strava has no immediate plans for an exit, Martin believes the company is valuable and has room for further growth. The company remains financially strong, having been profitable for over four years and not requiring immediate capital raising.
Overall, Strava is focused on building inclusivity, leveraging AI, and maintaining its subscription-based business model as it enters its next chapter. With its new CEO’s experience and strategic direction, the company is poised for continued growth and success.
