89

Business

Half a billion for a sports app

admin
February 5th, 2015


This article is more than 9 years old.

American sportswear brand Under Armour is buying Endomondo, the personal coach and training partner all in one

Danish IT company Endomondo has sold its flagship mobile phone sports app to American sportswear manufacturer Under Armour for 575 million kroner.

The free personal trainer app, which is called 'Endomondo' like the company, is designed to track workouts, provide guidance and give audio feedback along the way.  

30 million downloads
Thirty million people from all over the world have downloaded Endomondo since it was launched in 2008. 

Some 20 million people are also registered as users on the company's site.

"It's amazing that what we have been working on for so many years has just been bought by a large American player," Christian Birk, the company's co-founder, told DR News.

"It shows that the vision we had seven to eight years ago was right." 

Difficulties making profit
Although users have enthusiastically embraced the sports app, the company has had great difficulties making a profit.

Since the start, Endomondo has ended almost every year in the red. 

In the fiscal year of 2013-2014, the company sustained a 1.3 million kroner loss.

Possibly thanks to the large number of users, the US sportswear brand sees great potential in Endomondo, in spite of the financial issues. 

 


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”