Strava is looking for a new CEO after Michael Horvath revealed he is stepping down from the role for a second time.
Horvath co-founded Strava in 2009, leading the company to become one of the world’s largest activity tracking social communities, which passed 100 million registered users last year.
After leaving the Strava hotseat in 2013 for family reasons, Horvath returned as CEO after six years, with his co-founder Mark Gainey also returning as executive chairman. Now, Horvath says he is stepping away from the CEO role and that the company is actively pursuing a replacement, adding simply that he feels the company needs someone to lead its next phase of growth. Need a different person.
“As co-founder and CEO, it’s only part of my job to make sure we’re choosing the right path to that destination,” Horvath said. “The other part of that is making sure we’re always recruiting and supporting the right leaders for the right time.”
changing of the guard
While Strava is primarily famous for its use in the areas of cycling and running, allowing users to track and share activities, it is looking to expand its appeal into tangential outdoor activities such as hiking. Because it chases forward growth. Indeed, the company launched a new trail sports option last year, then a few weeks ago announced it had acquired FatMap, a European startup that built a 3D mapping platform for mountains. Strava plans to integrate Fatmap into its core platform in the coming months.
Whenever there’s a change of the guard at a big venture-backed tech company, it’s often a sign that something bigger is coming on the horizon. In fact, Strava has raised more than $150 million in funding over the past 14 years, securing big-name backers like Sequoia Capital along the way, and it would make sense to see Strava’s exit at least in part. Will have a look. Horvath said last year that there were no immediate plans for an IPO, though he later clarified that he would not rule it out if it made sense at the time.
For now, however, the official line is that Horvath believes Strava needs a different skill set to take it to the next level—whatever that next level looks like.
“What we find here will not be exactly what we find there,” Horvath said. “I have decided that Strava needs a CEO with the experience and skills to help us make the most of this next chapter.”
