Obviously this show was compensated for those ads. Mark Gainey, Strava How Strava Found its Niche [Entire Talk] Winning a small niche can lead to massive opportunities. 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. I sincerely hope you enjoy the episode. I am not being compensated in any way for hosting Mark and Michael on the show. I was pretty good during the soccer warm-ups when we were running laps. We had a go-to-market strategy that said we were going to focus somewhat maniacally on the cycling community, but dont confuse go-to-market with vision. Mark Gainey: Born in Denver, Colorado, but raised in Reno, Nevada. Ironically, this came from the entrepreneursthe theory being that youre going to be doing this 24/7, 365 days a year, so it might as well be something you are genuinely passionate about. David Swain: Lets start with where you grew up and your influences as a kid? This wasnt just Michael, my co-founder. Mark Gainey Portola Valley, CA Follow on Strava Followers 2051 Following 323 Yesterday Hello 2023! Mark Gainey 15:52. Episode 406. The sunglasses industry was very distributed, parts from everywhere, and people would put them together. The other was the concept of sharing information with the advent of Twitter and Facebook. In order to verify the travellers identity online, they proposed a. Its funny, full disclosure, I was not applying to Harvard when I was in high school. Mark and Michael are two people I have always wanted to meet. Support The Sponsors:One of the best ways to support the podcast is to support our sponsors. If you were hiring in Dubuque, Iowa, or Phoenix, Arizona, I was calling you and trying to get the owner or the CEO on the phone to tell me about their business. Dont take me to the museum. And Id be happy to do reads for Strava in the future. They love it. [Red Bull] READ MORE How Your Strava-Recorded Hill Climbs Can Help Firefighters Battle Wildfires Nothing to write home aboutby no means a perfect score, but good. Founded in 2009 by Mark Gainey and Michael Horvath, Strava has grown to boast tens of millions of users around the world across its mobile app and website. Both of my parents grew up in the Bay Area. Let's see if we can roll through here. People get thrown out of the boat, which is called crabs, or you injure your hands on the oar. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Usually, I've got investors, like, show me the addressable market and show me the vision. This was pre-internet, so Id get all these newspapers, and Id pull all the want ads out of the Sunday papers from around the country. You only had maybe a half-dozen races for your season, yet you trained from the minute you got to school in the fall, through the winter, and into the spring. MG: The whole history behind segments is fascinating. 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. Wed come and visit extended family here in the Bay Area, but no, we were a close-knit family. He was such a good partner because he was the yin to my yang. Im probably the worst person to answer this question because this is where Id say I am definitely not successful. Over the coming months, Strava was focused on increasing its reach vis--vis integrations with other devices such as Google's Fitbit. I remember spending afternoons on my little BMX bike, or with a soccer ball, with a football, and playing with other kids. We want to support them in their journey wherever they are, whether theyre attempting their first 5K or going for an Olympic gold medal. Id forgotten just how hard startups are and how all-consuming they can be. Train smarter. 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 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. I admire some of the other entrepreneurs Ive studied who have figured out a way to be much more balanced on a regular basis. I laughed. This investment - Pre Seed Round - Teamsportz - was valued at $550K. Reach higher. In November I will be participating in the Qatar Quest a reverse order ultra-distance triathlonthat will circumnavigate the Qatar peninsula. My dad was a general surgeon. We were a little early. 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. Mark Gainey is the co-founder and executive chairman of Strava, a platform where more than 50 million athletes around the world track their workouts and compare their stats. Mark Gainey currently serves as the co-founder and chairman of Strava. At one point somebody did the calculationsthe number of hours we put in training for the few minutes that we actually raced in the spring season, because these were 2,000 meters long and six-minute races. I tend to obsess in some ways in one area. There just isnt anything like it. MG: Ive seen some amazing art but for me it is more about messaging. I wasnt thinking about working. Download Our Free App! I dont care whether its a software business, or youre manufacturing paperclips, or soccer balls, or running a restaurant. He had an opportunity to come out with a partner and take over someones practice. It wasnt as though we had this masterplan about how this was going to cover the entire world. What are some of the traditions and habits youve brought to your boys? business of fitness and wellness. We know its important to build a company value and think about long term success. He graduated in 88 and studied economics. What distinguishes Strava from other fitness trackers and social media platforms is the positive emotional connection it engenders. missionary oblates of mary immaculate belleville, il. We were talking about Strava while sitting in a Starbucks, and she made a great observation. 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. One of the other things Ive heard you talk about with Strava is authenticity. Lightweights had just been added to the Olympics, and the first opportunity was going to be in 92, I think, in Barcelona. To hold myself accountable and transparent, I posted every single workout on Strava (follow me here) and Instagram Stories. We could find those individuals who had the passion and understand their needs, and in doing so, really start to tailor an experience that was unique to them. Hes been my business partner for 25 years. Three speakers left. Strava Redeem now It was super fun. My degree should say Crew because thats where I spent the vast majority of my time. Alright, good afternoon. Jobs Number of Current Jobs 2 Ive got Boys in the Boat on my bedside table. Youve got two sons. I had dreams of, Could I make one of those lightweight teams? To manage an existing Cyclist magazine subscription, please visit Manage your account or visit our subscription FAQ page. Youre not going to meet a more ethical person. Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has participated in, Announced Date: Date when the Investment is announced, Organization Name: Name of the organization that received the investment, Lead Investor: This field indicates whether an investor led/organized the investment, Funding Round: Name of the funding round where the Investment is made, Money Raised: Amount of money raised in Funding Round, Total number of current Jobs the person has, Total number of past Board and Advisor roles the person has, Organization Name: This is the name of the organization, Title At Company: Title of a Person's Job, Start Date: Start date of the Person's Job, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of events the individual appeared in, Number of news articles that reference the Person. 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, What the heck? Tto platforma bola zaloen v roku 2009 Markom Gainey a Michaelom Horvathom v San Franciscu. It was around that time you launched Kana. I believe he still works at Google. The Build Cycle Podcast #022 - Strava co-founder Mark Gainey. Also a Harvard graduate, Mark is a former venture capital executive and seasonedentrepreneur whohas been building successful companies for nearly 20 years, including Kana, which he co-founded alongside Michael asCEO, president, and chairman. 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. MG: If you go back to our roots, Michael and I were really interested in creating a trusted consumer brand. Mark Gainey, Chairman and Co-Founder of Strava on Building a Social Network for Athletes 30 00:00:00 / 00:27:44 30 On today's episode of Unconventional Genius, I talk with Mark Gainey, Chairman and Co-Founder of Strava about how he helped build a successful social network for athletes. The athlete's platform. Ive got a younger brother whos two-and-a-half years younger than me, and a sister, same, so five years between us. MG: We know were not the experts when it comes to training for a first century ride but we know there are experts out there, so how do we allow them the opportunity to have a voice on Strava and how can members find that information? As I decided to go on my entrepreneurial journey, I was looking for somebody to do it with. This has afforded me the luxury, frankly, of being present for Jake and Charlie. Plus 7-day and 21-day programs for both beginner and advanced users. It also raised yet another round of funding in October 2014, this time adding $18.5 million to its balance sheet. By signing up, you agree to our Terms and Privacy Policy. Co-founder & President: 2014: May 2017: Board and Advisor Roles. 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 Thats been my strategy. It was chained to a fence, and I went off to work. Cyc: Is the Strava office in California full of very active employees? Let me go plan my weekend, and how can Strava be a part of it? If we could find a cyclist willing to listen to the story and willing to experiment, then we would bring them on. Theres one most people know, which is a very transient, high-densityits a gaming town, but as soon as you get out of downtown, its incredible. Is your 1986 Ritchey still in the garage? [Cyclist] READ MORE Why Professional Athletes Use Strava Strava breaks down barriers between athletes and amateurs. I own that. Ive got a younger brother whos two-and-a-half years younger than me, and a sister, same, so five years between us. When you have a minute, and it feels right to you, do us a solid and give the app a review in theiTunes Store. I got on the phone and called Jim Jannard, the founder of Oakley Sunglasses. Mark went into venture capital in Palo Alto. Tommy Gainey. Id love to introduce you to our program. 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. Youre the one! Those are not brands that were built overnight. As Adam mentioned, I'm the co-founder and executive chairman at Strava and I'm here today to do a couple of things. We did. That led to a nine-month perioda little bit of a reckoningbecause it was not at all clear that I was going to be able to come back to rowing. The one I always recommend is called The Amateurs by David Halberstam. Mark Gaineycurrently serves as the co-founder and chairman of Strava. Q&A: Strava Co-Founder Mark Gainey The history of segments, Strava marriage proposals and the pain of losing his records to a teenager. Then I had a ski accident three years ago and I started living my exercise vicariously through other people. And I understand sort of where . I was the oldest of three. Well, hes 82 years old. How to capture a niche by going an inch wide and a mile deep. We just needed to focus early, to develop market leadership and a presence, so we could be in a place to support more and more people. The funny thing was, the good companies all said the same things: attention to detail, focus on the customer, and build great teams. Mark Gainey is the Co-Founder and Executive Chairman at Strava. That was late 95, so thats right as Netscape was going public and that first wave of internet companies was starting to surface. Were focused on developing a profitable growing business and getting people excited about it. Nothing more, nothing less. Subscribe: Apple Podcasts | Android | Google Podcasts | Stitcher | Spotify. My boys met somebody else who happened to be associated with Strava. 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. Weve learned over time that were at our best when were focused on the athlete experience and really thought about how we can improve and create this subscription upgrade thats so valuable it becomes indispensable. Was it you and Michael from the beginning? It used to be patience, persistence, and perfection, but I realized perfection was leading to a bunch of bad behavior we didnt want, so we threw it out. Strava Finds its Niche. There was just an intense work ethic thats hard to describe. Our vision was always to support the global community of athletes, regardless of what sport theyre in. You see how many people are riding together all the time. We do want to experiment. Its called the Biggest Little City in the World. I used to joke there are two cities there. What shocked us was the level of banter that was going on between people who didnt know each other at all. Lets keep it fun. Part of this is to make sure folks can access information. They were pretty clever back then, and would recruit from the other athletic programs. You get injured. for 1000s of delicious, customized plant-based recipes & so much more, check out our Plantpower Meal Planner, Subscribe & Review:iTunes|Stitcher|Soundcloud| GooglePlay. I understand Boys in the Boats the same. Frankly, as sophomores in high school, my sons are starting to talk about college. Michael Wolf ran engineering for us and is a world-class entrepreneur. In this talk, he explains the "inch wide, mile deep" strategy that informed both Strava and his previous startup, Kana Communications. MG: A funny story there was a time when I had lots of CRs [course records] throughout my neighbourhood. Strava's co-founders Michael Horvath and Mark Gainey have returned to run the company they started. Horvath founded Strava with Mark Gainey in 2009. 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. That was the academic side of it. Michael Horvath, the CEO of online fitness tracking platform Strava, has announced that he is resigning from the company. Cyc: What about helping people find new routes? He also had an office at Stanford, which, at the time, was one of the few places with decent internet connection. This week we hear from Mark Gainey, co-founder and Chairman of Strava, the social network for athletes. Yeah, I caught the bug to be an entrepreneur after four-and-a-half years there. Lightweights had just been added to the Olympics, and the first opportunity was going to be in 92, I think, in Barcelona. Hannah Ferrier also comes out on top . Their story is as interesting as it is instructive. In a . Theres one most people know, which is a very transient, high-densityits a gaming town, but as soon as you get out of downtown, its incredible. 00:00 / 00:00 / 24 July 2019. Renos one of those funny places. I talked about how much fun I had on the crew team at Harvard. Never miss an episode, plus special announcements, discounts, giveaways. 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. You had to do it other than just to race, and really appreciate the journey. 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." So five years between us s co-founders Michael Horvath, the social network athletes... How Strava Found its niche [ Entire talk ] Winning a small can... On the Crew team at Harvard race, and a sister,,! Probably the worst person to answer this question because this is where Id say I am not. Soccer balls, or soccer balls, or running a restaurant though we had this about! 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