Axel Springer Takes Majority Stake in Fitness App Start-up Runtastic

01 Oct Axel Springer Takes Majority Stake in Fitness App Start-up Runtastic

German media company Axel Springer has acquired a majority stake in Austrian mobile fitness start-up Runtastic.

Runtastic offers a combination of mobile sport apps and a web portal, on which sport data can be stored and administered, and individual training plans generated.

Runtastic is operating worldwide and has more than 90 employees. More than 19 million users are registered on Runtastic.com and more than 46 million Runtastic apps have been downloaded. More than 100,000 are currently being downloaded every day.

The revenue of the company is mostly made from premium apps and hardware sold online (GPS watches, heart rate monitors, speed and cadence sensors for bicycle, etc.).

Source: http://www.gpsbusinessnews.com/Axel-Springer-Takes-Majority-Stake-in-Fitness-App-Start-up-Runtastic_a4437.html