If you're into GPS-tracking fitness apps, you might want to check out Adidas' latest acquistition Runtastic, a European mobile startup which just sold to the multinational corporation for $239 million.
Runtastic (in an obvious nod to the descriptive qualifier "fantastic," and which also bears the motto "Runtastic - makes sports funtastic") certainly lives up to its name in its ambitious overtures. Founded in 2009 by then-students Florian Gschwandtner, Christian Kaar, René Giretzlehner, and Alfred Luger, the fillip for the startup was initially conceived at the University of Applied Sciences Upper Austria as a sailboat tracker. From there, the four founded the startup, which has branched out to tracking apps for a multitude of outdoor sports (such as cycling, jogging, and even badminton), as well as into hardware and wearable tech. Runtastic has even ventured into VR with an app for Oculus Rift.
While no projects between Runtastic and Adidas are currently in the works, the company appears to be overjoyed at the prospect of their partnership. In a press release issued by Runtastic, founder and CEO Gshwandtner addressed concerns that current users might have about possible future changes to the Runtastic brand:
"So, you might be wondering, 'What changes for community members?' The simple answer is - not much, but as a business, we've now got a whole new world of possibilities to play around with... Runtastic will remain its own entity (within the adidas Group) and continue to operate from our current offices in here in Linz, Austria, Vienna and San Francisco."
While now a subsidiary of Adidas, Runtastic will still operate under its name. Check out its website to learn more about the newest addition to the adidas Group conglomerate.
Photo: Grego1402 | Flickr
