He instituted a $200 million, five-year turnaround plan with an unwavering focus on bringing Under Armour back to its roots as a sports brand. Read on below to find out more.When the Swedish-born executive joined Under Armour in 2017 as president and chief operating officer, the once-high-flying company was faltering both in terms of sales, as well as with scandals ranging from strip-club visits to Securities and Exchange Commission investigations. We have collected data and statistics on MyFitnessPal. Francisco Partners have not said what its plans are with the app long-term. The subscription service is pushed a bit more heavily, but for the most part, everyday usage is the same as it was with Under Armour. Since the acquisition, there hasn’t been much change on the app. The fact that no major tech company jumped for MyFitnessPal when it was for sale may be indicative of how the industry views MyFitnessPal’s rather unrefined advertising platform and its low conversion rate of its everyday users to its premium subscription service. It sold MyFitnessPal for $345 million to investment firm Francisco Partners, $130 million lower than the price it had acquired it for in 2015. In 2020, Under Armour decided it was time to shift focus, with a new CEO, Patrik Frisk, focused more on apparel and less on the technology side. Under Armour struggled to build out its connected fitness segment, scaling back on its hardware ambitions in the past few years after multiple failures. The past five years have seen steady revenue and usage growth for MyFitnessPal, although not much has changed from the original app vision. In 2015, Under Armour acquired the company for $475 million, the second in a series of technology acquisitions by the sport apparel brand, as it attempted to become a connected fitness brand as well. The focus was solely on tracking calories, with limited fitness features.ĭuring Lee’s tenure, MyFitnessPal grew to 80 million active users.
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