Strava Getting Ready to IPO

Echo Wang and Milana Vinn for Reuters:

Strava, the popular fitness tracking platform, is looking to hire investment banks for its U.S. initial public offering, people familiar with the matter said.

The San Francisco-based company, valued at $2.2 billion in a funding round completed in May, has invited banks including Goldman Sachs, JPMorgan and Morgan Stanley to pitch for roles on the IPO, the people said, asking not to be identified because the matter is confidential.

Let the ‘enshittification’ accelerate.