It’ll give a peek into the app’s core value, which is an aspect of the business model. Founding Story of MyFitnessPal Appīefore we get to how does MyFitnessPal work, let’s understand what led to its creation. The app can be utilized 24/7 by users for working out & regularly tracking their performance. The user-friendly online fitness app has an extensive database of over 14 million food items, & ensures transparent sharing of nutritional information among users. The free app helps fitness enthusiasts keep tabs on calorie counts, diet plans, sharing information about different exercises, and weight management. Īnd with more positive trends – like the increased use of smartphones, greater sale of wearable devices & better (and cheaper) internet access, the app’s demand is only going to increase. This, along with strict social distancing norms imposed in the last few years worldwide led to a soaring demand and popularity of MyFitnessPal. The GlobalNewswire estimates that the global digital fitness market will generate a revenue of $298.30 billion by 2026 with a 31.25% growth rate every year.

Under Armour selling MyFitnessPal at a price of less than what they paid to acquire it has stoked some questions about if it was operating at a loss for the company or if the company was in dire need to get rid of debt.How Does MyFitnessPal Work? What Is Its Business & Revenue Model?

Under Armour decided to sell off MyFitnessPal because they wanted to focus on their apparel brand and aim it at its target consumer. Earlier this year, Under Armour also announced they would be winding down the Endomondo platform which they acquired for 85 million dollars. Under Armour had originally acquired MyFitnessPal for 475 million dollars five and a half years ago. Debt financing for the transaction was provided by MidCap Financial. This announcement follows the October 30, 2020 news where Under Armour detailed that it had entered into a definitive agreement with Francisco Partners regarding the sale of this business for a transaction value of 345 million dollars, inclusive of the achievement of potential earn-out payments. has completed the sale of the MyFitnessPal platform to Francisco Partners. Athletic performance apparel brand Under Armour, Inc.

Myfitnesspal sale