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.
June 30, 2022
Saris Cycling Group to be sold as Covid whiplash effect mirrors Peloton
The Saris Cycling Group is set to restructure its business having suffered a similar spike and dive in demand to that which is widely reported to have caused Peloton problems. Peloton is likewise now rumoured for sale. The indoor trainer market was at the front of the pack when sales...
June 29, 2022
Fitmint, a fitness app, secures a $1.6 million investment round from General Catalyst
Fitmint, a business with offices in Bengaluru, announced on Wednesday that it has secured $1.6 million in a seed fundraising round headed by General Catalyst. With built-in social-fi and NFT game features, Fitmint is a "Move-to-Earn" business where users may earn incentives in crypto/NFTs by exercising physically, such as walking, jogging,...
June 29, 2022
STRIVE Closes $6M in Funding to Accelerate Growth
STRIVE, the only platform proven to optimize muscle performance for elite athletes and teams, today announced it closed $6 million in Series A funding. The round was led by Future Communities Capital, with participation from investors, including SeaChange Fund, SeedtoB Capital, Jas Ventures, Gaingels, Founders First, Macnica Investment Partners, fama...
June 28, 2022
Emerald Acquires Advertising Week Global Event Platform
Emerald Holding, Inc. announced that it has completed the acquisition of all of the assets comprising the business known as Advertising Week from Stillwell Partners. Advertising Week (AW) is a premier global event and thought leadership platform focused on marketing, media, technology, and culture. Businesswire
June 27, 2022
Nike Q4 Beats Analyst Expectations Despite Russia Exit, China Pressures
Revenues in Q4 were down 1% to $12.2 billion compared to the prior year, with net income down 5% to $1.4 billion, or 91 cents per share. The Beaverton, Ore.-based company attributed approximately $150 million in expenses in the quarter associated with closing its Russian operations, and the transition of...
June 24, 2022
A California REI Store is Looking to Unionize, Amid an Uptick in Retail Unions
Another REI store has started the process of organizing a union. A store in Berkeley, Calif. on Tuesday filed a request with the National Labor Relations Board to hold a union election. The group is looking for the company to voluntarily recognize them through the United Food and Commercial Workers Local...
June 23, 2022
Bicycle insurance company Laka receives investment from Porsche Ventures
Laka has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and followed by Ponooc, a Dutch sustainable mobility investor with close ties to Pon, and ABN AMRO, to $13.5 million. bikebiz
June 23, 2022
Nike latest brand to leave Russia permanently
Nike has announced plans to leave Russia, becoming the latest Western brand to quit the country since the invasion of Ukraine in February. The US sportswear giant halted online orders and closed the stores it owned in the country in March. BBC
June 22, 2022
INEOS and marathon runner Kipchoge to set up new cycling academy in Kenya
Cycling team INEOS Grenadiers have teamed up with marathon world-record holder Eliud Kipchoge to set up a cycling academy in Kenya as they look to tap into the renowned endurance of the local talent and create top level cyclists. Reuters
June 21, 2022
2020 Summer Olympics Cost Tokyo $10.5B
The cost of the 2020 Tokyo Olympics has fluctuated since the city was named the Games’ host, but on Tuesday, the organizing committee released its final number: $10.5 billion, or 1.42 trillion Japanese yen. FOS