All rights reserved. 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. He had an opportunity to come out with a partner and take over someones practice. 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. Authenticity is one of the five core values inside the business. I had a great coach, a guy named Charlie Butt at Harvard, who now has the whole program. One of the things I decided at Strava was, we see a business we think is only scratching the surface, and we want to keep doing it for the next 20 years. Train smarter. If we could find a cyclist willing to listen to the story and willing to experiment, then we would bring them on. How can we develop Strava so members have more of a voice? We break down the most important developments impacting the We both rowed crew at Harvard in the late '80s and thrived on the camaraderie and motivation of training with teammates. Founded in 2009 by Michael Horvath and Mark Gainey, Strava's original focus was on cycling. There was camaraderie, trash talking, competition, and so it was just a really magical experience. Youre not going to meet a person whos more humble, who works harder, and he also just understands things about business that, frankly, I dont. From day one we could see there was this interaction between athletes which was always taking place afterwards over beers or a cup of coffee anyway that we could now translate digitally. Guru Singh On Positivity -- Why Receptivity Is The Better Path, David Sinclair On Extending Human Lifespan & The Science Behind Aging, http://media.blubrry.com/rrp/p/feeds.soundcloud.com/stream/604586484-richroll-rrp435.mp3. I had dreams of. What got you into competitive sports in high school? Of course, he wasnt targeting me, he was just younger so he was naturally destroying me, but we developed a friendship and we still banter back and forth every few weeks. I could keep going. When you have that right, theres no more powerful feeling. The company's application offers the ability to record fitness activity, analyze, share and compare data against themselves, friends, and pros, enabling users to discover, share and plan workouts and training together for better growth and results. His name was David Belden, the commercial customer, and hes still here in the Valley. According to Crunchbase, Strava has raised a total of $151.9 million from seven rounds of funding. Hes been my business partner for 25 years. She said, I talk to way too many entrepreneurs who, when I ask them about who their customer is, they say, Well, look, here. Thats not our background, and so you heard running, and rowing, and so forth. On Monday, Horvath replaced James Quarles as CEO, after Quarles spent two-and-a-half years. I wanted to continue rowing lightweights (there are lightweights and heavyweights in rowing). Beyond our investors, everybody in the company, all 180 employees, are shareholders. We also find cyclists are always exploring they like finding different routes and places. It was Dads job. Edit Board and Advisor Roles Section. More From Runner's World . 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. We want to put ourselves in those two places so that we control our destiny. 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. I think my balance has come in huge chunks. Meeting Nature Writ Large, RRP #394: Knox Robinson On Why Running Is An Act Of Rebellion, RRP #327: Lance Armstrong Is Moving Forward. This exchange canvasses everything from technology, business and entrepreneurship to fitness, sports and social media. Founded in 2009 by Michael Horvath and Mark Gainey, Strava has become the go-to platform for millions of users around the world. 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. 00:00 / 00:00 / 24 July 2019. Its not an end game. Strava co-founder and CEO Michael Horvath is, again, stepping down from his position. We had this old idea about a virtual locker room after we rowed together at Harvard, but by 2009 two things had changed. Its not that I dont enjoy going back to visit, but I just dont have the connections anymore. By 2008, he and Gainey were meeting up for brainstorming sessions that would result in the birth of Strava. What happened was a very nice coach sent me a handwritten note in the fallit wouldve been fall of 1985. Europe, Menlo Park, China), Where the person is located (e.g. I sincerely hope you enjoy the episode. 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 Mark Gainey and Michael Horvath, Strava has grown to boast tens of millions of users around the world across its mobile app and website. For a kid who enjoyed being outdoors and playing soccer up until high school, when I switched over to cross country, it was a fantastic place. 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. We were a little early. 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. Strava is the leading social platform for athletes and the largest sports community in the world, with over 98 million athletes in 195 countries. Note:One of the best ways to support the podcast is to support the sponsors. Lightweights had just been added to the Olympics, and the first opportunity was going to be in 92, I think, in Barcelona. MG: Metro has been a great investment. Theres something uniquely special about being privy to the daily grind of my favorite multi-sport athletes. Get started today! I had a Ritchey Ascent mountain bike from 1986. Whereas, if you try to have a conversation with every person inside a Starbucks, youre going to get 75 different responses to something. As I was graduating, I had not applied for any jobs. 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. Theres an important sequencing. This was 1986. 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 at Strava. This led him to the crew team, where a junior rower named Michael Horvath took him under his wing. Its another funding event that can be very important in the life of a company, but its by no means the end. MG: When we made the decision to raise outside capital and bring investors in, we were conscious of who we brought in. And for $5 a month, we want to believe its a great value. MG: A funny story there was a time when I had lots of CRs [course records] throughout my neighbourhood. Well talk about Michael Horvath, Im sure. Nothing to write home aboutby no means a perfect score, but good. That business was minting money, but Jim did it by bringing everything in-house. We do want to experiment. It comes from a simple thesislets go build for our customer. He went off and got his PhD from Northwestern, and ended up here in the Bay Area as a professor of macroeconomics at Stanford. Holding a Ph.D. in economics from Northwestern University and an A.B. MG: We get really excited about the future there. To hold myself accountable and transparent, I posted every single workout on Strava (follow me here) and Instagram Stories. For our largest shareholders, its less about, How quickly can we flip this? and is all about, Are we creating value? And those were important conversations even before they became investors in the company. Fast forward a bit and I was sitting in a Mexican restaurant with my two boys and I was wearing a Strava T-shirt. Michael Horvath sets the platform he co-founded off in a new direction. Distance 3.1 mi Elevation 164 ft Time 26:30 December 30, 2022 That's a wrap At least I didn't slip and fall this time! I tend to obsess in some ways in one area. Strava Metro, the urban data service from the Strava fitness and networking app, has been made free for cities. Id forgotten just how hard startups are and how all-consuming they can be. One was technology with the wearable marketplace and GPS devices. Hes now a partner at Foundation Capital and has been very successful there. Even with IPOs. We may raise capital in the future, but we want to do it from a position of strength, because we see an opportunity, not because we need the capital. Tyler Norwood 15:48. 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? Subscribe to receive industry headlines, trend reports, and investment activity delivered every Tuesday. Mark Gainey currently serves as the co-founder and chairman of Strava. Co-founder & President: 2014: May 2017: Board and Advisor Roles. Listen to the podcast on:Apple Podcasts |Google Podcasts|Spotify. ? In addition, Mark sits on the board ofAlter-G, BoardVantage, Daum, Clari, and Coaching Corps. 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. Not consenting or withdrawing consent, may adversely affect certain features and functions. That being said, starting Kana and Strava were two different experiences. At Strava, weve literally put it on a coin. Lets keep it fun. Through soccer came running. You never saw him complain about having to get up at 3 a.m. and take care of somebody. They were kind enough to let me figure that out. 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. I started as a history major, but found art history was a great way for me to learn history. I was a single parent with two boys who were seven or eight years old at the time we were starting. Pretty quickly, it was clear I wasnt going to be rowing again, and I needed to move on to a new chapter. The technical storage or access that is used exclusively for statistical purposes. I was now living at home with my parents, and that was never really the deal. 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. 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. Ironically, its through Strava that I have more interaction with him. For example, we moved whats called segment leader boards. 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. Did you have extended family in the area? My dad was a general surgeon. Personal Investments Number of Investments 1 Mark Gainey invested in Teamsportz on Aug 13, 2021. That really surfaces. Have an account? Those are not brands that were built overnight. Guys like Bill Felch, who ran services, and others who were really a critical group that happened to come together and bond over the vision of what we were trying to dothats what makes or breaks any company. Did you have a core group of early users giving you feedback? We take a lot of time to bring people on board, but I think it pays dividends. Mark Gainey 15:52. 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. Reunited when Michael took a professorship at Stanford, they hatched their first startup. MG: Weve always had the freemium business model, where you could use some component of Strava for free, or you could upgrade. Everybody thinks of rowing as somewhat of an individual sport, but you have to figure out how to mix in effectively with eight other peopleseven other rowers and a coxswain. It wasnt as though we had this masterplan about how this was going to cover the entire world. The company raised $110 million . Your patience and deliberateness while building the Strava brand and community are unique. I laughed. Alright, good afternoon. As I was graduating, I had not applied for any jobs. My first summer jobs were at Lake Tahoe pumping gas and grinding the bottoms of boats at a local marina. Rose Ski Resort, and wed ski all winter long. Would you elaborate on that? Terry McKall February 14, 2023. Going back to the three Ps, when I met you one of the things I noticed was the word patience. Mark Gainey, Strava. I understand the need to move fast and to be willing to break thingsto not seek out perfection. The grit and determination and persistence. I would put in an hour on my mountain bike but cycling is actually really social. What I saw in my father as a surgeon was somebody who was incredibly dedicated to his patients, to his work. What was that like for you, still in your 20s, to watch a company grow that quickly? 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. She called this the Starbucks phenomenon. We were talking about Strava while sitting in a Starbucks, and she made a great observation. Like many of the things born in Silicon Valley, you might say Strava, the favorite app of millions of athletes, is a happy accident. As Adam mentioned, I'm the co-founder and executive chairman at Strava and I'm here today to do a couple of things. Rose Ski Resort, and wed ski all winter long. Mark and Michael are two people I have always wanted to meet. For a complete list of all RRP sponsors and their respective vanity urls and discount codes,visit my Resources page and click Sponsors. In 2022 Tommy Gainey earned $34,236 so far. All rights reserved. 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