Michael and I are not serial entrepreneurs, we dont get excited about starting new companies again and again. It includes unlimited access to ALL of Calms amazing content. This wasnt just Michael, my co-founder. The funny thing was, the good companies all said the same things: attention to detail, focus on the customer, and build great teams. 15. Then I had a ski accident three years ago and I started living my exercise vicariously through other people. Theres a universal language, and theres a universal set of needs that all athletes have.. For a complete list of all RRP sponsors and their respective vanity urls and discount codes,visit my Resources page and click Sponsors. You had to do it other than just to race, and really appreciate the journey. Michael Horvath sets the platform he co-founded off in a new direction. Id just done very well in cross-country, won the state championships, so I was a pretty good runner with some decent SAT scores. So as early as 1995, we had a plan to figure out a way to bring that boathouse experience to the masses. You get injured. I got a compliment just yesterday. Theres a fine line between perfection and disaster, and you can apply all these things later on.. MG: The whole history behind segments is fascinating. One was in my wedding years ago, and so weve stayed close. Mark Gainey is the co-founder and Executive Chairman of Strava, a global community of athletes with more than 50M members. Hes got very funny stories about moving into that mentor role, and about working with the vets. Mark Gainey Portola Valley, CA Follow on Strava Followers 2051 Following 323 Yesterday Hello 2023! He previously left in 2013, though joined again in 2019 as CEO. We are in the home stretch here I promise. Cyclist: You first had the idea for Strava in the 1990s but only launched it in 2009. Video, editing byBlake CurtisandMargo Lubin. That word gets used a lot, and I know it can be abused. Frankly, just looking at the complexity of leaderboards and how they operate and the costs associated with it, its significant. Reno, for anybody who likes the outdoors, starting in first grade, we had PE at the local ski resort. Exactly. The trajectory tends to be straight up and straight down. So in Stravas case, at the risk of not going fast enough, if you can build a trajectory that feels sustainable over a long period of time, you end up at the same altitude, but now youve got incredible lasting value. I was there my sophomore year through senior year, and we won the state championship as a team all three years. Fast-forward three decades, and Mark and Michael have been at the center of two of the internets big eras as friends and business partners. Michael became an academic. He went off and got his PhD from Northwestern, and ended up here in the Bay Area as a professor of macroeconomics at Stanford. We were these two guys in our early forties who were still passionate about sport and camaraderie but life, obligations, kids and work got in the way. When we started Kana, he stayed in academia. They were probably wise, but they didnt do it. [Cyclist] READ MORE Why Professional Athletes Use Strava Strava breaks down barriers between athletes and amateurs. Every day I was losing another CR and I was thinking, Who is this guy? He has offered his expertise to a wide array of companies over the years, joining the boards of Alter-G, BoardVantage, Daum, Clari, and Coaching Corps. I n the mid-90s, two former college friends, Michael Horvath and Mark Gainey, met to discuss an idea. I believe he still works at Google. The arrival of phones with GPS and activity tracking technology such as Garmin put. For a complete list of all RRP sponsors and their respective vanity urls and discount codes,visit my Resources page and click Sponsors. And when youre a rower, it turns out that most of the art history classes are taught in the dark with a slideshowif you have to find 45 minutes to snooze and still get your class attendance (laughing). Today, there are millions of online subscribers. The company has raised about $70 million to date,. I started as a history major, but found art history was a great way for me to learn history. Contact Information Website www.strava.com Ownership Status Privately Held (backing) Financing Status Please enter your username or email address to reset your password. They were kind enough to let me figure that out. The company soon enough expanded the focus of its GPS data tracking and social networking platform to also encompass running. Dad did his residency in Denver, and I think they fell in love with the Rockies, and so the opportunity to be in the mountains, but closer to family, was compelling. Prokit co-founder and CEO David Swain (@swain) sat down with Mark at his home to discuss his journey. Its called the Biggest Little City in the World. I used to joke there are two cities there. From day one, we had this thesis of building a product that athletes love and see if we can build a business model where they love it enough that theyll pay for it. To provide the best experiences, we use technologies like cookies to store and/or access device information. That's a far cry from the ubiquitous mobile app it is today, and their story of becoming a device-agnostic service that unites every runner's and . I saw one person was targeting my CRs. Our ethos is pretty simple and one of our core values is authenticity. Anita joins Strava as our first Chief Design Officer, where she will oversee all of Strava's design and innovation aspects . I could keep going. Youve been through a couple startups. Michael Horvath is the Co-Founder & Board Member at Strava. Ive lost touch with most of the guys. And when it launched, it was only a desktop app. Part of this is to make sure folks can access information. So just how did Strava become the only fitness app that matters? Its another funding event that can be very important in the life of a company, but its by no means the end. Let's see if we can roll through here. They were pretty clever back then, and would recruit from the other athletic programs. To make it stronger, use upper and lower case letters, numbers, and symbols like ! " He sometimes gives me kudos. MG: I was surprised at how social cycling is as a sport. Strava generated $167 million revenue in 2021, a 70% increase on the previous year In January 2022, Strava had 95 million active users, with two million added every month Almost two billion activities were completed on Strava in 2021 In December 2020, Strava was valued at $1.5 billion Strava overview Strava revenue When I left Kana in the summer of 2000, we had about 1,200 employees and a market cap north of $10 billion on the NASDAQ. Less so, but its not that my parents werent active. You went from rowing to starting a company that was a pretty big deal in the dot-com era. Theres a universal language, and theres a universal set of needs that all athletes have. To get the story behind the story, today I sit down with Mark Gainey and Michael Horvath the dynamic duo co-founderswho gave birth to Strava and continue to guide its ongoing growth and evolution. Watch on Mark Gainey is the Co-Founder of Strava, the #1 app for runners and cyclists. Theres an A, a B, and three Cs, and the A stands for authenticity. And why the integrity of community is paramount. MG: Michael and I have learned over time, the minute you start talking about exits is the minute you start de-valuing your business. We spend a lot of time at the house talking about, What are your interests? I understand the need to move fast and to be willing to break thingsto not seek out perfection. Mark Gainey: Michael Horvath and I started Strava in 2009. Mark Gainey and Michael Horvath were two friends from college with a good idea and bad timing: in 1995, they set out to create a digital community where athletes could chart their progress and actively compete with one another. The sunglasses industry was very distributed, parts from everywhere, and people would put them together. Mark holds an AB from Harvard University. But it was just too early: software engineers said it couldn't be built, and investors didn't want to take the risk. He and Anna had four children in a pretty short period of time, and then he found himself, largely for family reasons, leaving the Bay Area, staying in academia, and ultimately ending up in Hanover, New Hampshire, where he taught entrepreneurship at the business school at Dartmouth. Number of Current Board & Advisor Roles 1. Cyc: What about helping people find new routes? Even in recent months the conversation has been around, How do we put Strava in a position where its in a position of strength? And thats really two things, profitability and growth. MG: Weve probably tried every different way you could think of to have a positive impact on growth. Yeah, I love this entirely. That really surfaces. They inspired us and were good runners in their own right. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. Nothing to write home aboutby no means a perfect score, but good. Stravas always tried to strike this balance of understanding what it is to be in single player mode, yet at the same time realizing that so much of the benefit and where accountability and motivation comes from is when you connect with your friends or other like minded individuals. Cyclist Laura King takes us inside her how she does what she does, from favorite books and podcas Running coach Greg McMillan shares what he's learned through three decades of coaching. Cyc: What has all the Strava data taught you about cyclists? We did. Insights Like many of the things born in Silicon Valley, you might say Strava, the favorite app of millions of athletes, is a happy accident. We also hold ourselves responsible for delivering innovative and . Id be the guy at the front running those laps. They had been competitive rowers at Harvard, and both missed rowing life: its competition. Have an account? Q&A: Strava founder Mark Gainey The CEO and co-founder of Strava on the history of segments, Strava marriage proposals and the pain of losing his records to a teenager by Mark Bailey. It was pretty clear it was going to be hard for me to build a career there, so I left Reno. I have this funny way of keeping all the rejections in my life, whether its venture firms who turn us down, or people who never gave me jobs. Jobs Number of Current Jobs 2 Born in Denver, Colorado, but raised in Reno, Nevada. When you have that right, theres no more powerful feeling. If we could find a cyclist willing to listen to the story and willing to experiment, then we would bring them on. Also a Harvard graduate, Mark is a former venture capital executive and seasoned entrepreneur who has been building successful companies for nearly 20 years, including Kana, which he co-founded alongside Michael as CEO, president, and chairman. Ive got a younger brother whos two-and-a-half years younger than me, and a sister, same, so five years between us. Strava took over again. This led him to the crew team, where a junior rower named Michael Horvath took him under his wing. mark gainey strava net worth; mark gainey strava net worth. Whether it was making sure we could join the local ski program early on, or supporting my love for soccer as a kid, and traveling all over the West Coast, they were always behind me. Their transparency holds me accountable. He wrote this note saying. With Captain Lee Rosbach and Captain Sandy Yawn being the longest-running cast members, fans always assumed they were the richest Below Deck cast members. Whereas, if you try to have a conversation with every person inside a Starbucks, youre going to get 75 different responses to something. Its all about the people you bring together. Strava. I think my balance has come in huge chunks. Mark Gainey, the co-founder and chief executive of fitness-tracking app Strava, has a message for immigrants who are impacted by President Donald Trump's recent executive order: "Freedom4All." Awesome. On Monday, Horvath replaced James Quarles as CEO, after Quarles spent two-and-a-half years. Tommy Gainey turned pro in 2007 and has played for 15 years and was born in USA. MillionaireMatch got the scoop on how Co-founder and CEO, Mark Gainey, landed funding in what seemed to be a narrow target focus for any company. We want to put ourselves in those two places so that we control our destiny. The thing I refer to nowthe boys will even joke with me, I call it SOB disease. What do you do to stay grounded? Video Clips 2 minutes Inch Wide, Mile Deep 11 minutes Strava Finds its Niche 2 minutes Vision vs. Go-To-Market 2 minutes Be a Niche #1 2 minutes The Art of Leveraging Customer Feedback View Video Clips Clip 4 of 5 Strava attempts to end the loneliness of the long-distance runner (and cyclist) Chief executive Mark Gainey tells Ben Wright how the app is building a sporting network just like Facebook built a . Thanks toJason Camiolofor audio engineering, production, interstitial musicand show notes. Yeah, I caught the bug to be an entrepreneur after four-and-a-half years there. Spotify. MG: If you go back to our roots, Michael and I were really interested in creating a trusted consumer brand. Technically, my degree says General Studies. I had enough credits in art historyfine arts is what they call it at Harvard. He was such a good partner because he was the yin to my yang. 110,482 followers. Seattle University Alumni Founded Companies, Conservatoire national des arts et mtiers (CNAM) Alumni Founded Companies, University of Central Lancashire Alumni Founded Companies, De Montfort University Alumni Founded Companies, United States Late Stage Companies With Less Than $1B in Revenue, Liverpool John Moores University Alumni Founded Companies, University of Wisconsin-Madison Alumni Founded Companies, California State University, East Bay Alumni Founded Companies, Number of portfolio companies associated to the Person, Total number of current Advisors and Board roles the person has, The organization associated to the person's primary job, Where the person is located (e.g. I was the oldest of three. The other was the concept of sharing information with the advent of Twitter and Facebook. Company NMLS# 303719. mark gainey strava net worth. Friendship ensued, but after graduation they pursued disparate paths. I can name the very first guy who was ever on Strava. Theres a universal language, and theres a universal set of needs that all athletes have. Michael Horvath and Mark Gainey originally founded Strava in 2009, and it has since grown to over 100 million users, a portion of which are also paid subscribers. Your love for sports and the outdoorsdid your parents pass that down to you? Lightweights had just been added to the Olympics, and the first opportunity was going to be in 92, I think, in Barcelona. operators and investors by subscribing. Mark Gainey, 48, says that the original genesis of the idea for San Francisco-based Strava came when he and co-founder Michael Horvath graduated from Harvard University. Three speakers left. This has afforded me the luxury, frankly, of being present for Jake and Charlie. More From Runner's World . I am not being compensated in any way for hosting Mark and Michael on the show. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. MG: my business partner and co-founder, Michael Horvath met when we were on the crew team in college and the experience we had on the team was critical to everything going forward. Cyc: The name Strava is Swedish for to strive. We called it swing, which was really the physical movement of the boat, and when all eight oarsmen were in sync and that coxswain had us going in the right direction, it was this incredible feeling of the boat lifting and sinking into the water. *Disclosure:Books and products denoted with an asterisk are hyperlinked to an affiliate program. 00:00 / 00:00 / 24 July 2019. Both of my parents grew up in the Bay Area. You had to do it other than just to race, and really. Those messages capture my heart and are fun to see. We took a lot of cues from the grand brands Michael and I admired, and set out to see if we could go do something similar. MG: In our very earliest days when we were still alpha testing we took 10 people on the west coast and 10 on the east coast and asked them to participate on this website for a month during the Tour de France. Founded in 2009 by Michael Horvath and Mark Gainey, Strava has hired over 100 new employees in the last 12 months including several additions to the company's board and leadership team. That ability to put people together and allow them to compare came in and all of a sudden we saw the trash-talking, the camaraderie, the gamesmanship and those little things added up to the fervour behind the experience. We spend a lot of time talking about personal passions. I was a single parent with two boys who were seven or eight years old at the time we were starting. Have you read Boys in the Boat? In fact, a key takeaway from the dot-com era, internet 1.0, is from this funny phrase: Oh, yeah, what a rocket ship. I used to remind everybody, Yeah, and what happens to rocket ships once they run out of fuel? About Strava Strava is the world's leading social fitness app, designed to help athletes of all levels achieve their goals and connect with like-minded individuals. I always remind them that the day you take your company public is the day in which its now okay for your grandmother to invest in the future of the business. This was a Saturday afternoon, and the gentleman said afterward, Boy, they each shook my hand like they meant it and looked me in the eye. That was good, because I can say it came directly from my father. Talk about your journey from Reno to Harvard. Mark Gainey, Co-founder & Chairman, Strava - YouTube 0:00 / 20:29 Mark Gainey, Co-founder & Chairman, Strava 1,497 views Jan 23, 2018 Mark Gainey, Co-founder & Chairman, Strava and Ari. Stava's History. Thank you Mike Ghaffary for the introduction to our guest today, Mark Gainey, the founder of Strava. The firm did very well. That worked out really well. It keeps me humble. Strava Metro, the urban data service from the Strava fitness and networking app, has been made free for cities. The teamwork. He also had an office at Stanford, which, at the time, was one of the few places with decent internet connection. Thats not our background, and so you heard running, and rowing, and so forth. Then the top 5 were selected by Ben Lowe, creator of VeloViewer; Mark Shaw and Mark Gainey, Strava's CTO and CEO; and Ariel Poler, a member of Strava's board of directors. The grit and determination and persistence. When I came home, it was gone. How did that happen? Well give Kudos to each other on a fairly frequent basis. Youre the one! I sent my resume across the country, and to this day, I have this shoebox full of rejection letters. My first summer jobs were at Lake Tahoe pumping gas and grinding the bottoms of boats at a local marina. He saw all these guys coming in on their motorcycles with cracked goggles, and he was like, Theres got to be a better way. Long story short, he ended up with this amazing business that, at the time we talked to him, had better margins than a software company. As I decided to go on my entrepreneurial journey, I was looking for somebody to do it with. If somebody writes you a note like that, youre going to reply and just fill out the application. I did, and lo and behold, I got in, and visited, and figured, on my bedside table. I sincerely hope you enjoy the episode. In 2013, he stepped down from his role but then rejoined the company in 2019. I wasnt sitting on seven other boards, so it was manageable. I had dreams of. Train smarter. Founded in 2009, millions of athletes worldwide have joined Strava for the ability to track and share their fitness activities as a community whether they are running, cycling, hiking, racing, skiing, swimming or just working out. So weve tried to find a balance, but we really want to come back to our community. We admired the likes of companies like Patagonia and Oakley and Virgin, and just these great iconic consumer brands. ? Welcome Anita Patwardhan Butler! What I saw in my father as a surgeon was somebody who was incredibly dedicated to his patients, to his work. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Prior to Strava, Michael co-founded enterprise software firm Kana Communications and was the CFO and VP of Operations at GlycoFi, a biotech company. Cyc: Do Strava users deliberately try to beat you? What shocked us was the level of banter that was going on between people who didnt know each other at all. I was 90. Its as simple as that.. Fast forward a bit and I was sitting in a Mexican restaurant with my two boys and I was wearing a Strava T-shirt. He was maniacal about the quality, maniacal about his distribution. Best case, Id start something that would sustain my family, which was the mission, just enough to put food on the table and pay the rent. 1w. Paul Holland ran sales for us. Thinking about the people was a huge takeaway as we built Strava. That was late 95, so thats right as Netscape was going public and that first wave of internet companies was starting to surface. He wrote this note saying, Hey, we saw your results. Cyc: Is the Strava office in California full of very active employees? Visit: Outerknown.comtoday and enter promo code RICHROLL at checkout to receive 25% OFF your full price order. We knew if we could keep it fun and inspirational you would get the fitness, the strength and the speed too, but it should be secondary to: can we keep this entertaining? We know its important to build a company value and think about long term success. That changed the game for us, enabling us to grow the network more effectively. What happened was a very nice coach sent me a handwritten note in the fallit wouldve been fall of 1985. MeetStrava the fitness social network designed by athletes for athletes. They were just willing to invest in our activities. Peloton Discover this cutting-edge indoor cycling bike that brings the studio experience to your home. How to create it. Net Worth: $2 Million Date of Birth: Jan 18, 1948 (75 years old) Place of Birth: Jackson Gender: Male Height: 6 ft 2 in (1.89 m) Profession: Actor, Comedian, Voice Actor, Stand-up comedian. MG: First and foremost, its a global community of 50 million plus athletes who use our mobile apps or website to connect with one another. Support The Sponsors:One of the best ways to support the podcast is to support our sponsors. Our vision was always to support the global community of athletes, regardless of what sport theyre in. To manage an existing Cyclist magazine subscription, please visit Manage your account or visit our subscription FAQ page. MG: When people talk to us about building community, we always remind them that when we started Strava, we had one customer and had to start with, How do you give value to that one person who uploaded their workouts to Strava? It was creating that single player mode that is motivational and provides enough inspiration that they want to upload a second, third, and fourth time. Now, Horvath says . Never miss an episode, plus special announcements, discounts, giveaways. Dear Strava community, If nothing else, 2020 has been a year of regaining perspective. Sign up for STRAVA The #1 app for runners and cyclists! Theyre posting their workouts, and in exchange, were motivating and inspiring them through competitions, analytics, social connections, and so forth. 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