Strava Filed Confidentially for IPO, Hired Goldman Sachs

Strava, a fitness app popular with runners and cyclists, filed confidentially in recent weeks for an initial public offering and hired Goldman Sachs to run the listing, according to people with direct knowledge of the matter.

The San Francisco–based firm, founded in 2009, has recently been meeting with prospective investors ahead of the offering, which could come as soon as this spring. The company grew revenue at a fast pace last year—more than 50% from the previous year—and was profitable, one of the people said. But it’s small compared to other publicly traded consumer internet firms, with less than $500 million in revenue last year.