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.
April 23, 2024
Kona Bicycle Brand for Sale After Dropping Out of Sea Otter Bike Show
It’s likely a tough week for the employees of Kona Bicycles. After setting up a booth at Sea Otter, one of the cycling industry’s largest annual gatherings, Kona employees were told to tear it back down before the event even started. The move was surprising for a number of reasons. Kona had...
April 19, 2024
Nike Layoffs in Oregon Headquarters Will Total 740 People by June
Nike‘s layoffs at its Beaverton, Ore. headquarters will have impacted hundreds of employees by June, according to a WARN notice filed with the state of Oregon on Friday. Nike said in the filing that by June 28, 740 employees will have been let go as part of two rounds of layoffs. Nike confirmed that...
April 17, 2024
Peloton Axes Unlimited Free App Membership in Short-Lived Experiment
Peloton introduced three app tiers during its massive ‘more than a Bike company’ rebrand in May 2023: the free app, a $12.99/month Peloton App One and a $24/month Peloton App+ level for all of App One’s offerings and more. As CNBC reports, Peloton CFO Liz Coddington stated that the connected fitness brand...
April 16, 2024
Peloton Axes Unlimited Free App Membership in Short-Lived Experiment
Peloton has quietly discontinued access to its unlimited free-membership app tier after failing to convert paid subscribers, marking a new setback in the brand’s push to conquer the digital fitness content space. The change doesn’t affect Peloton’s current free membership users and comes less than a year after its launch....
April 8, 2024
Life Time Opens First Ground-Up Pickleball Facility in Minnesota
Life Time opened it first dedicated, ground-up pickleball development on April 8. Life Time Chanhassen Pickleball is located adjacent to the Life Time Chanhassen, MN, athletic country club and the company’s headquarters. Spanning nearly 46,000 square feet, the club features eight indoor and seven outdoor courts with accompanying amenities. In...
April 2, 2024
iFIT Adds C-Suite Execs as AI Coach Launch Nears
IFIT is getting reinforcements at the executive level, announcing the hirings of Mark Phillips as chief marketing officer and Bart Muller as chief international officer as the connected fitness company looks to build out its artificial intelligence (AI) capabilities. Athletech News
April 1, 2024
Beat Zaugg says he’s still CEO of Scott Sports
Industry veteran Beat Zaugg, who has been an owner of Scott Sports since 1998, says he remains the brand's CEO, a minority shareholder and chairman of its parent company board, despite a news release Friday saying that the board had fired him. "This announcement was made to destabilize the company...
March 28, 2024
How Disney Created One Of The Most Intoxicating Running Cultures Ever
There are runners, and then there are Disney runners. While your local weekend racing crew is full of camaraderie and team culture, Disney runners form bonds that seem truly next level. These races involve live entertainment, exclusive character greetings, Disney jargon, elaborate costumes, and months of advance planning with friends...
March 27, 2024
A VC unpacks the why and process of deciding to invest in a sports tech startup
Investor Rayn Ong pointed out recently that “VCs (and angels) say no to 95% of the founders they meet with”. That’s ignoring the many more no responses over emails and even DMs (from some brave founders). As anyone in startup land will attest, the no comes in many forms. There...
March 21, 2024
Nike Beats Sales, Earnings Projections in Q3 as Leadership Touts Innovation Pipeline
Nike Inc. reported sales and earnings results that beat expectations. For the third quarter, the athletic giant reported that revenues grew slightly over last year to $12.4 billion, ahead of the $12.28 billion expected by analysts surveyed by Yahoo Finance and ahead of prior guidance from the company. Net income was down...