BUSINESS NEWS
Want to stay up to date on the latest press releases and business news in the running, cycling and triathlon industries? Scroll below to view all endurance sports business news.
September 30, 2024
Have information about motor doping in cycling? The UCI will now pay you
People with information about potential motor doping in cycling can now receive a financial reward from the UCI, after the world governing body stepped up its efforts in combatting the risk that it described as posing “a significant threat… to the integrity standards of the sport.” Cycling Weekly
September 26, 2024
The Pro’s Closet will close in October
The Pro’s Closet — which started out of its founder’s VW bus, evolved into an eBay store, and became a used bike and component e-commerce giant — will close in October after 18 years. TPC issued a short news release Thursday announcing the decision. Like a lot of companies in...
September 25, 2024
Connected fitness tech unicorn EGYM snaps $200M at over $1B valuation
Munich-based EGYM, which specialises in connected fitness equipment and personalised training tech, has secured nearly $200 million in growth capital. The investment came from L Catterton, a global consumer-focused investment firm, and Meritech Capital, a Silicon Valley technology-focused venture firm. This round boosts the company’s valuation to over $1 billion. This...
September 25, 2024
The Pro’s Closet may be in deep trouble
As the days shorten in the northern hemisphere, many bike shops put items that haven’t yet sold on clearance. But at online retailer The Pro’s Closet, which specializes in certified used bikes and gear and liquidating new, prior-year product, this is no normal end-of-season closeout section. For one thing, virtually...
September 25, 2024
Is Google Fitbit in trouble? Website shutdown revitalizes concern about the brand’s future
9to5Google spotted that Fitbit.com, the official website for the popular brand of wearable fitness trackers, is not long for this world. At the top of the page is a new message stating that the site's functions will move to the Google Store on Oct. 1. Google bought Fitbit for $2.1 billion in 2019...
September 23, 2024
Bicycle Transit Systems to Acquire BCycle from Trek
Trek’s bike share operator, Bicycle Transit Systems, Inc., announced that it signed a definitive agreement to acquire BCycle from Trek. The acquisition will make Bicycle Transit Systems North America’s only docked bike share company with fully integrated end-to-end operations and allow it to expand mobility options in cities nationwide with...
September 19, 2024
Giant officially takes ownership of Stages
Giant Bicycles announced Thursday that it has taken full ownership of Stages Cycling via its indoor cycling subsidiary SPIA after a judge overseeing Stages’ bankruptcy approved the purchase agreement. This comes five months on from the Taiwanese bike manufacturer suing Stages for US$14 million, based on unpaid invoices and products;...
September 19, 2024
Fitness On Demand Partners with Motosumo to Expand Cycling Options
Fitness On Demand has announced a new partnership with Motosumo, a company that uses smartphone technology to turn any stationary bike into a platform for live, interactive cycling classes. The collaboration will allow users to access live and on-demand classes through Fitness On Demand’s platform, making interactive cycling more accessible...
September 17, 2024
IRONMAN sued by TriBike Transport
Litigation is currently underway in a lawsuit between IRONMAN and former bike shipping specialist TriBike Transport. The lawsuit was originally filed by TriBike Transport on March 25, 2024, and is ongoing. In its suit TriBike Transport is claiming breach of contract against IRONMAN, claiming that the international event series did not meet certain...
September 17, 2024
Triathlete Matt Hanson on partnering with AI coaching platform Humango
You can’t have a discussion about sports technology today without including athletes in that conversation. Their partnerships, investments and endorsements help fuel the space – they have emerged as major stakeholders in the sports tech ecosystem. The Athlete's Voice series highlights the athletes leading the way and the projects and...
