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.
January 4, 2024
Peloton to bring its content to TikTok in exclusive partnership
Fitness equipment maker Peloton Interactive (PTON.O) will bring its workout content to short-form video platform TikTok in an exclusive partnership, the companies said on Thursday. The partnership comes as Peloton, shares of which extended gains to jump 9.5% in premarket trading, is pivoting from hardware and transforming into a software-focused...
January 3, 2024
Planet Fitness busts gym barriers with help from Megan Thee Stallion
Low-cost gym chain Planet Fitness partnered with Megan Thee Stallion for a new campaign meant to break down fitness barriers in the new year, according to a press release. To capitalize on the interest in fitness that typically arrives in January, the rapper is playing the role of Mother Fitness,...
January 3, 2024
Red Bull acquires controlling stake in Bora-Hansgrohe
According to a notice published on Austria’s Federal Competition Authority, which was spotted by keen-eyed observers and posted on Twitter/X, Red Bull has acquired a 51 per cent stake in the German WorldTour cycling outfit. The notice, filed under the category of merger control and described as a “planned purchase...
January 3, 2024
Global Wellness Economy Projected To Hit $8.5T by 2027
A new report brings encouraging news to the wellness sector, with the total wellness economy projected to hit a staggering $8.5 trillion in 2027 after reaching $5.5 trillion in 2022. Research by the Global Wellness Institute (GWI) reveals that wellness spending is expected to profoundly impact the global economy in...
January 3, 2024
Chipotle and Strava Want to Give You Free Guac
On Tuesday, Chipotle Mexican Grill announced a partnership with Strava, the digital fitness tracking giant, “to encourage and reward healthy habits this year.” The burrito and bowl chain has become the first restaurant brand to build customized streak and segment-based challenges on Strava. According to press release from Chipotle, the...
January 3, 2024
Hyperice Sues Therabody Over Massage Gun Patent Infringement
Hyperice has filed a lawsuit in federal court against Therabody, asserting that the company infringed its recently issued U.S. Patent No. 11,857,482. The patent claims technology dating to 2013, which is used in Hyperice products like its Hypervolt Go 2, Hypervolt 2 and Hypervolt 2 Pro massage guns. In the...
December 28, 2023
Who made the most triathlon prize money in 2023?
Long-distance racers dominated the prize money lists in 2023, according to the detailed analysis by Trirating.com’s Thorsten Radde. While two of the top-five money earners from the year did compete in short-course races, the lion’s share of their income came from Professional Triathletes Organisation (PTO) and Ironman races. Here’s a...
December 22, 2023
Muuvr secures $4.16 million in post-seed funding round
Muuvr, the activity app that motivates runners, cyclists, and triathletes to be more active through rewards and community, has announced a significant investment into the brand’s future. The $4.16 million secured capital will fuel the next chapter of Muuvr’s growth strategy. This includes advancements in app development, marketing and acquisition...
December 22, 2023
Nike Aims to Save $2B Over Three Years With New Plan to ‘Streamline’ Organization
Nike on Thursday announced new measures to “streamline” its organization after reporting a profit beat for the second quarter. The athletic giant said in a release that it sees the potential to save up to $2 billion, although these measures involve layoffs. Nike said it could see pre-tax restructuring charges...
December 21, 2023
Compass Diversified Receives $75.2 Million Equity Investment
Compass Diversified (CODI), owner of Velocity Outdoor, BOA, Primaloft, 5.11, and other active lifestyle brands, reported that it had completed a private placement of approximately 3.6 million of its common shares to a mutual fund managed by Allspring Global Investments to raise $75.2 million. The shares were sold for $21.18...