Kleiner Perkins has released a video of partner John Doerr, a lead investor in MyFitnessPal who sits on the board, interviewing the Lee brothers about the origins of their company. Under Armour said it expected to close the MyFitnessPal acquisition in the first quarter of 2015. When asked about how MyFitnessPal's business model might change, Lee hinted at a premium version of the app where users paid for additional features that would increase their likelihood of weight loss success, or premium versions that could be prescribed to patients. Lee and his brother Albert are listed as co-founders of the company.īaltimore, Maryland-based Under Armour said it had also acquired Endomondo, a fitness-tracking app largely popular in Europe in January for $85 million. Endomondo is based in Copenhagen, Denmark, and claims to have one of the largest digital communities of fitness enthusiasts, with approximately 20 million registered users. The app is part of Under Armour’s connected fitness division, with revenue last year accounting for 1.8 per cent of the company’s 5. Last summer MyFitnessPal announced it would include steps tracking as a core feature, overlapping further with the software provided by wearable trackers made by Fitbit or Jawbone. It was acquired by Under Armour in 2015 for 475 million. Sportswear brand’s Q3 results surpass expectations, including revenues of US1.4bn. Company to wind down Endomondo platform at end of 2020.
"There’s never been something like this.” Under Armour acquired MyFitnessPal for US475m in 2015. “We have the largest database that’s ever existed of what people eat,” Lee said in an interview with Forbes last year.
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