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.
December 18, 2022
CleverTraining, Olympia Sports assets to be auctioned
A bankruptcy court is auctioning the remaining assets of CleverTraining, an e-commerce site that once offered cycling, triathlon and other endurance sports gear. Also being auctioned are the assets of Olympia Sports, the former Northeast sporting goods retailer. Bicycle Retailer
December 15, 2022
Fitness app founded by best friends lands £1.9M, gets backing from British Olympic marathon runner
London-based personalised running coaching app Runna has raised £1.9 million in funding as it aims to become the top running coaching platform in the world. The investment round was led by Jon Coker, founding partner at Eka Ventures, whose has also led investments in brands such as Bloom & Wild, Interactive...
December 15, 2022
Cycling Innovation Accelerator: Unique support for start-ups and innovators
A team of seasoned industry experts is offering their combined knowledge, expertise, and guidance – launching Cycling Innovation Accelerator (C.I.A.) – offering unique support for start-ups and innovations in the bike world, accelerating the success of strong ideas. The C.I.A. is looking for fresh founders, start-ups, ingenious minds and small...
December 15, 2022
Bicycle Colorado is acquiring the nonprofit Colorado Cycling
To connect with the thousands of riders who participate in competitive and noncompetitive bike events in Colorado, Bicycle Colorado will be acquiring the nonprofit Colorado Cycling (formerly known as the Bicycle Racing Association of Colorado). Beginning in January 2023, the Colorado Cycling brand will be retired, and its operations will...
December 15, 2022
New Balance expanding production, adding jobs in Maine
New Balance is expanding its factory in Skowhegan and nearly doubling its workforce there. The company, which is based in Boston, said it will invest about $65 million in construction and equipment at the Skowhegan site. The planned expansion with double New Balance’s production capacity at the factory and add...
December 14, 2022
Can an NFT generate real world bike sales?
For those of us still firmly grounded in the real world, the question (even as digital natives) is, “Does any of this positively impact our cycling business?” For Zwift, with the academy, the answer is a 100% positive “Yes”. Add to that TrainerRoad, Sufferfest, Rouvy, RGT and there’s not much...
December 14, 2022
Spike raises $700k to help digital health apps utilize wearable data
On average, a digital health company will integrate between four to eight wearables to allow their users to connect the device they use. It’s expensive and resource-intensive to develop wearables integrations in-house; meanwhile, cross-sensor data is complex, scattered, and making data usable requires data engineering headcount and domain-specific know-how. Vator...
December 13, 2022
Adidas, Paris Hilton and More Celebrities Sued Over ‘Misleading’ Bored Ape NFT Promotions
Adidas and a slew of celebrities, including Paris Hilton, Stephen Curry and Serena Williams, have been named in a class action lawsuit over their promotion of digital currencies and NFTs from Yuga Labs, including its flagship NFT collection Bored Ape Yacht Club (BAYC). With regard to Adidas, the suit claims that...
December 12, 2022
Pinarello could be up for sale after banner years
The Italian bicycle maker Pinarello could be getting a new owner in 2023. L Catterton, the private equity firm who acquired the majority stake in 2016, are reportedly seeking offers for Pinarello after it almost doubled turnover since the acquisition. Cycling News
December 12, 2022
Puma Private Equity invests a further £5.5 million into Le Col
Le Col, the premium cycling performance brand, are pleased to announce that Puma Private Equity, has invested a further £5.5 million into the business to support its long term growth trajectory. Puma Private Equity offers growth capital and expertise to ambitious businesses and works closely with leadership teams to help...
