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 17, 2021
Google’s Fitbit Purchase Under Regulatory Scrutiny
Google's $2.1 billion purchase of wearable company Fitbit, finalized in January, is under regulatory scrutiny in the U.S. and Australia. The company is appealing an antitrust fine from the European Commission regarding privacy issues about the tech giant’s huge store of consumer data. Front Office Sports
October 14, 2021
Mindbody Acquires ClassPass, Raises $500M
Wellness technology platform Mindbody has acquired subscription-based fitness marketplace ClassPass and secured a separate $500 million investment in the combined company from Sixth Street. Financial terms of the all-stock acquisition were not disclosed, though ClassPass was valued at $1 billion after a $285 million funding round in January 2020. FOS
October 14, 2021
Bob Stapleton Steps Down as Chairman from Usa Cycling Board, Replaced by Vice Chairman Brendan Quirk
Oct. 14, 2021 (COLORADO SPRINGS, CO) - Today, USA Cycling announces that Bob Stapleton is stepping down as chairman of the board for the organization, a position he has held since 2014. Vice chairman Brendan Quirk was elected by board members to replace Stapleton, effective immediately. Quirk was co-founder of...
October 14, 2021
Patent Watch: Trek, Canyon and others patent bike boxes for the D2C market
A box designed for consumers is precisely what Trek has targeted in a recent patent application, Bicycle Packaging System. The Detailed Description section of the patent filing is surprisingly clear (unlike the broad language common in patent descriptions) about this: “Described herein are methods and systems for packaging bicycles that are to be...
October 13, 2021
USA Cycling Announces Partnership with Momentous
COLORADO SPRINGS, Colo – USA Cycling is proud to announce their partnership with Momentous, and their cutting-edge performance product PR Lotion. Momentous is a performance nutrition company dedicated to creating products that support the relentless pursuit of progress in human health and performance. The company has a core consumer base...
October 13, 2021
SoftBank Invests $400M In Vuori Activewear
The investment marks one of the largest ever in a private apparel company and allows the California-based company to expand its reach to markets outside the U.S. Vuori has thrived as an online retailer — its nine brick-and-mortar locations account for roughly 10% of total sales. With SoftBank’s investment, Vuori plans to...
October 13, 2021
Pear Sports Acquires Aaptiv
Pear Sports announced the acquisition of Aaptiv, the workout app. Aligned with the acquisition, Life Fitness has added to its equity investment in Pear and will distribute Aaptiv through its sales and marketing partnership. Aaptiv, with “13 million downloads and more than 36 million classes taken,” is expected to complement...
October 12, 2021
Mary Cain suing former coach Alberto Salazar, Nike
On Monday, The Oregonian reported that former Nike Oregon Project athlete, Mary Cain, has reportedly filed a $20 million lawsuit against Nike and her former coach, Alberto Salazar, over alleged abuse. Cain is accusing Salazar of publicly shaming her over her weight, leading her to depression, an eating disorder and self-harm....
October 12, 2021
Wattbike Targets ‘Real Athletes’ with an Authentic Slice of Life In The Saddle
The ‘For Real Athletes’ campaign, which launches today with a TV spot created by MATTA and produced by Spindle, introduces us to a world of determined everyday and professional athletes, finding unique ways to integrate Wattbikes into their lives and routines to achieve their fitness goals. The TV and VoD...
October 11, 2021
Nike, Adidas Face Supply Chain Threats
The world’s biggest athletic shoe manufacturer — which works with Nike and adidas — is facing massive labor shortages in Vietnam related to the pandemic. Around 40,000 workers did not return to a Ho Chi Minh City facility owned by Taiwanese company Pou Chen Corp. when it reopened on Wednesday. The facility...
