BUSINESS NEWS
Want to stay up to date on the latest press releases and business news in the running, cycling and triathlon industries? Scroll below to view all endurance sports business news.
October 5, 2020
Cold weather next challenge for fitness industry.
A chunk of the fitness industry has sustained itself amidst COVID-19 two ways: virtual workouts and outdoor offerings. The latter will become difficult — if not impossible — in much of the nation as fall stretches into winter. What's the plan? Read more on Front Office Sports.
October 5, 2020
A new book on Nike pulls no punches.
We're gonna check it out. According to Outside, 'Win at All Costs' is an indictment of more than just the Nike Oregon Project.
October 2, 2020
Strava Seeks New Investors at $1 Billion-Plus Valuation
Strava Inc., a social network for athletes with nearly 70 million global registered users, is looking to raise its equity by more than $1 billion, also hiring an adviser to raise between $150 million and $400 million. A deal that vaults the company to unicorn status would roughly triple Strava’s...
September 28, 2020
Flywheel Files Chapter 7 Bankruptcy, Closes All Of Its Studios
On Sept. 14, Flywheel Sports Inc. closed its 42 studios, laid off its 1,200 employees and filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court in New York. Flywheel had $10 million to $50 million in liabilities and less than $50,000 in assets. Read more on Club Industry.
September 24, 2020
Communication Issue? Echelon’s ‘Prime Bike’ Scrubbed from Amazon
Echelon Fitness went from promoting a “Prime Bike” sold exclusively on Amazon to having all its at-home spinning bikes yanked from the online retail giant for about 24 hours. Read more on Front Office News.
September 22, 2020
Nike Blows Past Analysts’ Estimates, Sending Stock Up High Single Digits
Shares for Nike Inc. are up in the high single digits at market close on Tuesday after the sportswear giant posted better-than-expected earnings and sales. For the three months ended Aug. 31, Nike’s posted diluted earnings per share of 95 cents — up 10% from the prior year and trouncing...
September 22, 2020
Tour de France draws 40m domestic TV viewers
The 2020 Tour de France proved a domestic TV ratings hit for France Télévisions (FTV) as more than 40 million viewers tuned into the public service broadcaster’s coverage of the three-week cycling grand tour. FTV reportedly saw its total viewership increase by seven million - more than 21% - on...
September 22, 2020
Amazon taps Echelon for the Prime Bike, a $500 Peloton knock-off.
Amazon teamed up with Echelon to build and sell the Prime Bike. The $500 exercise bike is a virtual clone of the $1,900 Peloton bike minus the screen — even the color scheme and design are the same. The bike is available now from Amazon (and Walmart, with slightly different...
September 21, 2020
ABC Financial Acquires Trainerize
ABC Financial (ABC), a provider of technology and related services for the fitness industry, has acquired Trainerize, a Vancouver-based mobile fitness solution for personal training and member engagement. With Trainerize, ABC can extend the health club beyond the walls of the gym to include all the aspects of fitness in...
September 17, 2020
AI-powered weight training startup Tonal raises $110 million amid home workout boom
AI gym equipment startup Tonal nabbed a $110 million round from new and existing investors. Tonal’s $2,995 equipment, which attaches to any wall with two studs, lets bodybuilders lift up to 200 pounds in one-pound increments. Adjustable arms and 17 different sensors support over 170 leg, arm, shoulder, back, core, and chest workouts....