2024-09-16 11:01:31
Adidas is closing Runtastic’s locations in Austria. This marks the end of the success story of the start-up, which was founded in 2009 and was once considered a flagship app.
Adidas has announced the closure of Runtastic’s locations in Linz and Vienna. Around 200 employees were informed of their dismissal at a company meeting. This is reported by the Oberösterreichische Nachrichten, among others.
First rumors about the closure had already surfaced last week, but there was no official statement from Adidas.
The Upper Austrian start-up Runtastic was founded in 2009 by Florian Gschwandtner, Christian Kaar, René Giretzlehner and Alfred Luger and quickly developed into a successful provider of sports apps. In 2013, the Berlin media group Axel Springer invested 22 million euros in the company. In 2015, the German sporting goods manufacturer Adidas bought all shares from the founders, Axel Springer and the co-shareholders for 220 million euros. However, the success fell short of expectations.
Since being taken over by Adidas, Runtastic has undergone several changes. In 2018, Florian Gschwandtner resigned as managing director and was replaced by the American Scott Dunlop. In 2022, Adidas reduced Runtastic’s brand value by 16 million euros in its annual report. Most recently, Runtastic was removed from the company name and renamed “adidas running”. Last year, 70 of the original 250 employees were laid off.