Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020
News Every Day |

Online fitness training platform Zwift raises $450 million in funding round led by KKR

September 16, 2020

(Reuters) – Popular online fitness training platform Zwift raised $450 million in a new investment round led by U.S. private equity firm KKR & Co Inc <KKR.N>, the company said on Wednesday.

The latest investment values the California-based company at more than $1 billion, a person familiar with the matter told Reuters, who declined to be identified as the information was not public.

Zwift, which is geared to running and cycling enthusiasts, said it will not be disclosing details on its valuation.

The firm has over 2.5 million accounts registered in 190 countries and uses immersive 3D technology to help runners and cyclists train virtually through its app. The app has garnered more than 500,000 downloads on Alphabet Inc’s Google Play store.

The investment will be used to develop its core software platform and increase headcount, the company said.

Private equity firm Permira, Amazon Alexa Fund, and Specialized Bicycle Components’ venture capital fund, Zone 5 Ventures, were also investors in the recent funding round.

In July, Virtual Tour de France was held on the Zwift platform after the COVID-19 pandemic forced the postponement of the actual annual July race. The company will also be the host platform for the first ever esports cycling world championship, which will be held this December.

Exercise bike makers such as Peloton Interactive Inc <PTON.O> have benefited from increased demand during the COVID-19 pandemic as closed gyms and fitness clubs turned people towards streaming exercise services and home work-out equipment.

(Reporting by Aakriti Bhalla in Bengaluru; Editing by Bernard Orr)



Read also

Trump slams Biden for launching ‘anti-police crusade’ and surrendering to ‘flag burners’ after cops shot during protests

Suspect with 'multiple warrants' barricaded inside Schenectady house

Goldman Sachs to investors: Fears of a delayed presidential election result are overblown



News, articles, comments, with a minute-by-minute update, now on Today24.pro




Today24.pro — latest news 24/7. You can add your news instantly now — here