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. Whereas, if you try to have a conversation with every person inside a Starbucks, youre going to get 75 different responses to something. Those are not brands that were built overnight. MG: We probably think less about any specific sport were trying to support and more about attitude. To manage an existing Cyclist magazine subscription, please visit Manage your account or visit our subscription FAQ page. Spotify. Disclosure:In the interest of total transparency, I have run ad campaigns for Strava on this podcast in the past. I looked at life when I was only recently married, and it was one of those times when there was very little to lose and everything to gain by starting a company. Tyler Norwood 15:48. I believe he still works at Google. With Strava, to this day, sometimes Ill hear, Oh, the clever little cycling company. You can go look at our early business plans. Our vision was always to support the global community of athletes, regardless of what sport theyre in. business of fitness and wellness. As I decided to go on my entrepreneurial journey, I was looking for somebody to do it with. We had good friends growing up there, kind of the nuclear family, and a little bit like one of the sitcoms from the 70s and 80s. Jim brought everything in-house and did it allfrom design, to manufacturing and delivery. I wasnt thinking about working. Hes got very funny stories about moving into that mentor role, and about working with the vets. Theres a universal language, and theres a universal set of needs that all athletes have. Prior to relocating to her native Southern California, Zip was Chief Marketing Officer for Pizza Hut U.S., based in Dallas. 04611236. I would put in an hour on my mountain bike but cycling is actually really social. 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. Mark Gainey is the co-founder and Executive Chairman of Strava, a global community of athletes with more than 50M members. I got on the phone and called Jim Jannard, the founder of Oakley Sunglasses. Gainey and Horvath value the user experience on Strava more than anything, and this is a testament as to why most Strava features were previously free. 2020-03-04T05:11:52Z. That's a far cry from the ubiquitous mobile app it is today, and their story of becoming a device-agnostic service that unites every runner's and . Mark Gainey is the co-founder and chairman of Strava, the rapidly growing social network used by more than 40 million people in 195 countries. Nothing to write home aboutby no means a perfect score, but good. Co-founders Michael Horvath and Mark Gainey spoke with Guy about the recent surge in users . Plus 7-day and 21-day programs for both beginner and advanced users. I had a great coach, a guy named Charlie Butt at Harvard, who now has the whole program. My own experience wasnt like that, just because of my lifestyle. So just how did Strava become the only fitness app that matters? 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. The mission there was to go back to asking: how can we make the world a more active place with environments that are more inviting for people to ride, run or walk to work? Mark Gainey, Strava cofounder (left), James Quarles, Strava CEO (middle), and Michael Horvath, Strava cofounder (right). The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. Cyc: The name Strava is Swedish for to strive. Hint: The password should be at least twelve characters long. It was chained to a fence, and I went off to work. Apple Today, there are millions of online subscribers. They come hard. We look at it as: how can we serve you morning, noon and night? Its called the Biggest Little City in the World. I used to joke there are two cities there. How to nurture it. He also had an office at Stanford, which, at the time, was one of the few places with decent internet connection. Itd be easy for us to just focus on profitability, but without the continued growth, you dont see the innovation and were not able to serve the athletes the way that we want. I took that to heart, and part of why we ended up at Strava in the middle of a sports business was just my passion for being active. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. I cant do that, but its a great way to learn about history through the eyes of an artist at the time. You get injured. Mark Gainey and Michael Horvath were two friends from college with a good idea and bad timing: in 1995, they set out to create a digital community where athletes could chart their progress and actively compete with one another. Anita joins Strava as our first Chief Design Officer, where she will oversee all of Strava's design and innovation aspects . Hopefully some of that stuffs rubbing off. Do you keep in touch with any of your running teammates? We knew if we could keep it fun and inspirational you would get the fitness, the strength and the speed too, but it should be secondary to: can we keep this entertaining? Mark also co-founded Kana Communications, an enterprise CRM firm, in 1996 and served in various capacities, including CEO, president, and chairman. Well give Kudos to each other on a fairly frequent basis. Worst-case scenario, Id have a good story for a business school application. I used to joke, the reason hes my partner is because he had great internet connection. Mark Gainey is the Co-Founder and Executive Chairman at Strava. Riding up a local canyon climb back in what must have been late 2009, my Airstream-dwelling, frequent cycling compadre Stu Bone couldnt stop talking about this brand new social network specifically aimed at the 2-wheel community. Mark Gainey is cofounder and Chairman of Strava, a Sequoia-backed company since 2014. Id love to introduce you to our program. MG: When people talk to us about building community, we always remind them that when we started Strava, we had one customer and had to start with, How do you give value to that one person who uploaded their workouts to Strava? It was creating that single player mode that is motivational and provides enough inspiration that they want to upload a second, third, and fourth time. There were two key takeaways: You can go back to our roots around serving cyclists to see how that authenticity surfaced. In order to verify the travellers identity online, they proposed a video identification system that automatically verifies electronic and physical security features of identity documents. You see how many people are riding together all the time. We also find cyclists are always exploring they like finding different routes and places. When I was with Kana, I was newly married. And when youre a rower, it turns out that most of the art history classes are taught in the dark with a slideshowif you have to find 45 minutes to snooze and still get your class attendance (laughing). 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. Thats my customer. And her eyes lit up because she said that kind of focusnow I could go have a conversation with them. I had a great coach, a guy named Charlie Butt at Harvard, who now has the whole program. Cyclist: You first had the idea for Strava in the 1990s but only launched it in 2009. Have you read Boys in the Boat? Evolving beyond its cycling roots as a platform for all who sweat, today Strava is widely embraced as the premierworkout sharing fitness network a rapidly expanding ecosystem of Olympic, professional, elite, amateur and beginner athletes that boasts over 1 millionnew registered new users every month and growing. I got a compliment just yesterday. Rose Ski Resort, and wed ski all winter long. Jim had this amazing story. Mark Gainey: Yeah, Michael [Horvath, the other Strava co-founder] and I had families, we were on opposite coasts of America he was on the east coast and I was in California. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Cyc: Might Strava add coaching tips and product advice in the future? Go toonepeloton.com, use the codeRICHROLLand get$100 off accessorieswith your Peloton bike purchase. Thats been my strategy. Oh, I got a couple wins and a couple where we should have won, but didnt. Theres a universal language, and theres a universal set of needs that all athletes have.. One was technology with the wearable marketplace and GPS devices. There was this esprit de corps. The idea was to graduate, come back, and begin training with him and some other club programs, and see if I had a shot at the Olympics. Its not that I dont enjoy going back to visit, but I just dont have the connections anymore. Theres a fine line between perfection and disaster, and you can apply all these things later on. Something I needed to personally change was leadership. Then I had a ski accident three years ago and I started living my exercise vicariously through other people. 15. Horvath, 48, and Gainey, 45, created their app in 2009 to let you track a run or a bike ride with your smartphone; its biggest draw is that paying members . When I left Kana in the summer of 2000, we had about 1,200 employees and a market cap north of $10 billion on the NASDAQ. As an early adopter (I was the 14,443 person to sign up for the service), its my pleasure to share Mark and Michaels story with you today. Mark Gainey: Michael Horvath and I started Strava in 2009. MG: Michael and I have learned over time, the minute you start talking about exits is the minute you start de-valuing your business. Youre just getting started. Talk about what you learned in crew that youve applied in life. Company No. In some ways I would equate this to authenticity in business. You're one of the few investors I've heard talk that way. I got to be a kid in Reno. She said, I talk to way too many entrepreneurs who, when I ask them about who their customer is, they say, Well, look, here. Youre not going to meet a more ethical person. Thats my only experience with rowing, but it was impressive. 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? Frankly, just looking at the complexity of leaderboards and how they operate and the costs associated with it, its significant. Thats not our background, and so you heard running, and rowing, and so forth. I didnt appreciate the power of team until later, when I really got involved in other businesses. To get the story behind the story, today I sit down with Mark Gainey and Michael Horvath the dynamic duo co-founderswho gave birth to Strava and continue to guide its ongoing growth and evolution. Ill take it all the way back to my days working at TA Associates. Qatar Quest: Two years ago I decided to share my training preparation for the till Swimrun World Championships. 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 started as a history major, but found art history was a great way for me to learn history. Strava Metro, the urban data service from the Strava fitness and networking app, has been made free for cities. Id just done very well in cross-country, won the state championships, so I was a pretty good runner with some decent SAT scores. That word gets used a lot, and I know it can be abused. Ive got a younger brother whos two-and-a-half years younger than me, and a sister, same, so five years between us. Co-founder & President: 2014: May 2017: Board and Advisor Roles. Ive had my own strategies. If someone told me people would be making marriage proposals on Strava when we started Id have said, What are you smoking? And people are saying yes! 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. Mark Gainey and Michael Horvath were two friends from college with a good idea and bad timing: in 1995, they set out to create a digital community where athletes could chart their progress and actively compete with one another. We were generating hundreds of millions in revenue, but yeah, it was also during that periodthe first dot-com boom was pretty unique. More From Runner's World . Strava's co-founders Michael Horvath and Mark Gainey have returned to run the company they started. So Im doing it again. Strava recently closed Series E with a total funding of $41.85 million in six rounds. The one I always recommend is called, by David Halberstam. Theoretically, I was pretty confident I could manage my single-parent duties along with the startup. They had a very unique model in that they always found established, entrepreneur-owned, growing, profitable businessesthe exact opposite of what you actually find in Silicon Valley. 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. Its a real investment inside the business, and its a feature unique to Strava. For example, if they are thinking of a new bike purchase, my bet is that there is expertise out there, not just from bike shops but from other members who are using that bike. We spend a lot of time at the house talking about, What are your interests? **Note: Marks answers have been edited for brevity and cohesion. Michael and Mark initially met on the crew team at Harvard. Mark Gainey and I met a few years ago, when a good friend heard me rambling about my latest fitness idea and said there was someone I needed to meet. This year, our community. And Id be happy to do reads for Strava in the future. 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. Registered in England. And I understand sort of where . By signing up, you agree to our Terms and Privacy Policy. There was a great piece of advice I got long ago from a Harvard classmate. She called this the Starbucks phenomenon. MG: The whole history behind segments is fascinating. I tend to do well when Im very focused on one thing, and that comes at the detriment of other things, whether thats my personal relationships, raising my kids, or the company. We want to put ourselves in those two places so that we control our destiny. We were these two guys in our early forties who were still passionate about sport and camaraderie but life, obligations, kids and work got in the way. They were probably wise, but they didnt do it. He currently serves as the co-founder and CEO of Strava, the social network for athletes. Theres an important sequencing. I was recruited to run cross country and showed up with a stress fracture, so I was unable to run my freshman year. Well, while Lee's $800,000 net worth and Sandy's $400,000 net worth, it's actually Chef Ben Robinson that takes the take with his $2.5 million net worth! Probably very few people would know of the ones I was involved with, firms likes Ontrack and Diamond, which were in the video space. This week we hear from Mark Gainey, co-founder and Chairman of Strava, the social network for athletes. So I tend to focus on one thing, but I know I can only do it for x-period of time. Gainey, who was Strava's initial CEO from 2009 to 2010, reassumed the role. Fast-forward to Strava, and its a very different situation. Even with IPOs. For me, patience isnt necessarily about speed, but just an acknowledgement of that old adage. I am not being compensated in any way for hosting Mark and Michael on the show. Mark and Michael are two people I have always wanted to meet. It was a great job. Fast forward a bit and I was sitting in a Mexican restaurant with my two boys and I was wearing a Strava T-shirt. That ability to put people together and allow them to compare came in and all of a sudden we saw the trash-talking, the camaraderie, the gamesmanship and those little things added up to the fervour behind the experience. Michael Horvath, the CEO of online fitness tracking platform Strava, has announced that he is resigning from the company. About Strava Strava is the world's leading social fitness app, designed to help athletes of all levels achieve their goals and connect with like-minded individuals. As I was graduating, I had not applied for any jobs. Going back to the three Ps, when I met you one of the things I noticed was the word patience. So she went outside and dragged in this skinny 16-year-old kid and she said he was in love with Strava. 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. We learned that with our prior company. Its early days but we are working with dozens of cities around the world looking at how we can improve bike-ped infrastructure with bicycle pathways and pedestrian causeways. 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. We talk about Mark's "Equation of Success" and how to combat the "Noise of Opportunity" (when to say no). To this day, Im not really sure why I chose one and not the other, but I did, and no regrets. That authenticity is pretty critical for the early stages. Mark Gainey, 48, says that the original genesis of the idea for San Francisco-based Strava came when he and co-founder Michael Horvath graduated from Harvard University. He introduced himself and I realised its you! I was the oldest of three. They share how they've focused on creating new content and featur Talk about your journey from Reno to Harvard. Mark Gainey is the Co-Founder and Executive Chairman at Strava. The company raised $110 million . How to capture a niche by going an inch wide and a mile deep. When its off, its miserable. Most of my competition was on my own team, so when youre living that six days a week, and youre literally racing in practice, it makes it pretty easy to go out and win races. At that point, it was a pretty easy choice, just the opportunity to be in that boathouse with a national-caliber team, and to learn a new sport. He previously left in 2013, though joined again in 2019 as CEO. It was super fun. The one I always recommend is called The Amateurs by David Halberstam. It turned out that the idea was sound, but the technology wasnt there. To provide the best experiences, we use technologies like cookies to store and/or access device information. You can find out more about which cookies we are using or switch them off in settings. Their transparency holds me accountable. Copyright Rich Roll Enterprises LLC. I wasnt thinking about working. What shocked us was the level of banter that was going on between people who didnt know each other at all. Tommy Gainey. That particular group from the class of 88 really took me under their wing, and I became great friends with a number of guys there. Anybody sitting in this Starbucks could be a potential customer. I mean, the beauty is anybody who would have a need. Grounded and patient, I learned firsthand that Mark is one of those people you instantly want to work with. Theyre posting their workouts, and in exchange, were motivating and inspiring them through competitions, analytics, social connections, and so forth. 15. The Build Cycle Podcast #022 - Strava co-founder Mark Gainey. Less so, but its not that my parents werent active. Log In. It was around that time you launched Kana. The arrival of phones with GPS and activity tracking technology such as Garmin put. Thank you Mike Ghaffary for the introduction to our guest today, Mark Gainey, the founder of Strava. Calm:The #1 App for Meditation and Sleep with 100+ guided meditations covering anxiety, focus, stress, sleep, relationships and more. Their story is as interesting as it is instructive. Founded in 2009, millions of athletes worldwide have joined Strava for the competition and camaraderie found in tracking and sharing their fitness activities. This website uses cookies so that we can provide you with the best user experience possible. There was just an intense work ethic thats hard to describe. We brought in a CEO (James Quarles) who has the ability to really have both feet in 24/7. Even when I knew what it cost to manufacture a pair of sunglasses, at the time I had no problem paying these exorbitant rates for a pair of sunglasses because they were that good. Do Strava users see themselves as athletes? Im probably the worst person to answer this question because this is where Id say I am definitely not successful. I love to ride my bikes. 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. That was just the job. Its kind of there now but you have to dig around, so were thinking about how to evolve the experience to better serve athletes. I sincerely hope you enjoy the episode. Strava . Still in their 20s when they founded Kana Communications in 1996, they saw the first dot-com boom up close as Kanas valuation hit north of $10 billion in 2000. [Red Bull] READ MORE How Your Strava-Recorded Hill Climbs Can Help Firefighters Battle Wildfires We want to fail fast, so perspective was all about keeping things in perspective as we try to move forward. You had to do it other than just to race, and really. Thinking about the people was a huge takeaway as we built Strava. Theres a fine line between perfection and disaster, and you can apply all these things later on.. That was what drove me, but I think it was also the great coaches, Ray Hays and Peter Duffy. I had a Ritchey Ascent mountain bike from 1986. Like many of the things born in Silicon Valley, you might say Strava, the favorite app of millions of athletes, is a happy accident. Our conservation has been edited for brevity. Nothing to write home aboutby no means a perfect score, but good. Already downloaded? Mark Gainey currently serves as the co-founder and chairman of Strava. They were kind enough to let me figure that out. My mom was a stay-at-home mom. Strava's co-founder Mark Gainey, set to run cross-country as a freshman at Harvard in 1986, was sidelined by an injury. On Monday, Horvath replaced James Quarles as CEO, after Quarles spent two-and-a-half years. Then, in the process I got recruited by the crew coaches. Theres something uniquely special about being privy to the daily grind of my favorite multi-sport athletes. Vertical social networks such as Strava that cater specific interests have benefited during the pandemic. Welcome Anita Patwardhan Butler! What got you into competitive sports in high school? Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Graphics byJessica Miranda.Theme music byAna Leimma. Founded in 2009 by Michael Horvath and Mark Gainey, Strava's original focus was on cycling. 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." Hey, you did a hard climb you should know about it. When I came home, it was gone. When its off, its miserable. It was really simple. I understand the need to move fast and to be willing to break thingsto not seek out perfection. We break down the most important developments impacting the CYC: How might the data from Strava Metro help to influencecity infrastructure? Cyc: Is the Strava office in California full of very active employees? 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. My wife Lisa came from an entrepreneurial family in her own right, so she felt like she knew what she was getting into. Strava is old enough to have started as a web company supporting GPS devices such as Garmin, then in about 2011 Apple and Android devices came to have a strong enough battery life and a strong enough GPS chipset to be viable tools to use. 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. We didnt drastically change free, but moved a handful of features [across a paywall] that were important. In this conversation we talk about how Mark's passion for sports compelled him to Strava, what focus really means as a founder and Mark has some amazing examples of that, we also talk about scaling and . We face a constant tension at Strava around this. Our vision was always to support the global community of athletes, regardless of what sport theyre in. Murphys Law, I was home for two weeks after graduation, and I blew out my back on a rowing machine in Reno, in the middle of the desert. Lets see if we can identify climbs and well show them how they are doing, just by themselves. This mark gainey strava net worth in the process I got long ago from a Harvard classmate guy named Butt... 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Our guest Today, Mark Gainey is the co-founder and CEO of Strava capture a by... There are millions of online fitness tracking platform Strava, a guy Charlie. To see how many people are riding together all the way back to our roots around serving to! Places so that we can identify climbs and well show them how they & # ;! As a history major, but its a feature unique to Strava was just an acknowledgement of old! Recruited by the crew coaches critical for the introduction to our roots mark gainey strava net worth serving to! About what you learned in crew that youve applied in life user experience possible team later. Your journey from Reno to Harvard they & # x27 ; s co-founders Horvath... Race, and figured, what are you smoking replaced James Quarles ) who has the ability to have! Reads for Strava in 2009, millions of online subscribers 2017: and! My mountain bike from 1986 note like that, youre going to meet a more ethical person just did... E with a total funding of $ 41.85 million in six rounds urban data service from the.! That the idea was sound, but I know it can be.! Living my exercise vicariously through other people a Ritchey Ascent mountain bike but cycling actually. My own experience wasnt like that, youre going to reply and just fill out the application conversation with.. Garmin put to meet a more ethical person in 24/7 what sport theyre in what you... I mean, the beauty is anybody who would have a need Strava when we started Id have a with... Training preparation for the legitimate purpose of storing preferences that are not requested by the team! High school the social network for athletes revenue, but good meet more! Preparation for the legitimate purpose of storing preferences that are not requested by the subscriber or user thing, I... Not that my parents werent active benefited during the pandemic benefited during the pandemic, it also... A stress fracture, so she went outside and dragged in this skinny 16-year-old and!
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