BikeBiz Bicycle and cycling retail news
This week, Cycling Insight has examined Strava’s search interest, funding and app downloads
The search term ‘Strava’ has kept a consistent interest pattern ranging between 20-50. The drop occurred during in the winter months.
The monthly search volume averages around 150,000 – 200,000 a month in the UK, but this is currently sitting at 560,000.
Strava has over 200 employees with 195 being based in the USA. They have had five rounds of funding with the latest being over three years ago suggesting they are looking to grow organically.
Strava has two fundamental revenue streams:
– £4/mo paid subscription for end-users
– £10,000 entry price for a company-sponsored challenge. Primarily used as a data grab to market to afterwards.
General statistics
– In the last 30 days, Strava has had over 2,500,000 app downloads – a 100% growth on the month before.
– A 2015 statistical sample analysis suggested Strava had 192,000 paying users of 8,000,000. That’s about 2.5%.
– Today, Strava has close to 60,000,000 users. If we assume 2.5% conversion rate is still accurate that would indicate 1,500,000 paying users. This is around £6m per month in revenue.
– Around 80% of their userbase is outside of the US.
