MG: I was surprised at how social cycling is as a sport. In Nevada, the VA is where a lot of the medical students get their training and do their residencies. He was in private practice into his early 60s. The other was the concept of sharing information with the advent of Twitter and Facebook. Personal Investments Number of Investments 1 Mark Gainey invested in Teamsportz on Aug 13, 2021. MG: Weve always had the freemium business model, where you could use some component of Strava for free, or you could upgrade. I can name the very first guy who was ever on Strava. They were pretty clever back then, and would recruit from the other athletic programs. You have got to live the lifestyle. 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." 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. Thank you Mike Ghaffary for the introduction to our guest today, Mark Gainey, the founder of Strava. He sometimes gives me kudos. 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. We also hold ourselves responsible for delivering innovative and . MG: my business partner and co-founder, Michael Horvath met when we were on the crew team in college and the experience we had on the team was critical to everything going forward. When its off, its miserable. Youve been through a couple startups. In fact, a key takeaway from the dot-com era, internet 1.0, is from this funny phrase: Oh, yeah, what a rocket ship.. I said, No way am I going to go, this kid from Reno, not even an interest. It was my father who was like, You do not have to go. There was camaraderie, trash talking, competition, and so it was just a really magical experience. Theres a universal language, and theres a universal set of needs that all athletes have.. In turn I help hold my community accountable. I had a great coach, a guy named Charlie Butt at Harvard, who now has the whole program. 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. We talk about Mark's "Equation of Success" and how to combat the "Noise of Opportunity" (when to say no). Founded in 2009, millions of athletes worldwide have joined Strava for the competition and camaraderie found in tracking and sharing their fitness activities. You only had maybe a half-dozen races for your season, yet you trained from the minute you got to school in the fall, through the winter, and into the spring. Strava Metro, the urban data service from the Strava fitness and networking app, has been made free for cities. When its off, its miserable. Founded in 2009 by Michael Horvath and Mark Gainey, Strava's original focus was on cycling. Strava . I wanted to continue rowing lightweights (there are lightweights and heavyweights in rowing). We are in the home stretch here I promise. MG: Metro has been a great investment. 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! NFTs Simplified > Uncategorized > mark gainey strava net worth. Their story is as interesting as it is instructive. Something I needed to personally change was leadership. It was good business. My first summer jobs were at Lake Tahoe pumping gas and grinding the bottoms of boats at a local marina. We look at it as: how can we serve you morning, noon and night? We are focused on what we call our invested athletethat person whos decided that sports and fitness are going to be an important part of their life. This wasnt just Michael, my co-founder. Let's see if we can roll through here. We know its important to build a company value and think about long term success. Youre just getting started. Three speakers left. 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 . Outerknown:For the people and the planet, Outerknown was founded bypro surfer Kelly Slater to provide high quality, environmentally sustainable clothes that fit great and are made to endure. Hint: The password should be at least twelve characters long. This was 95. Your patience and deliberateness while building the Strava brand and community are unique. In this talk, he explains the "inch wide, mile deep" strategy that informed both Strava and his previous startup, Kana Communications. Edit Board and Advisor Roles Section. Theyre posting their workouts, and in exchange, were motivating and inspiring them through competitions, analytics, social connections, and so forth. People get thrown out of the boat, which is called crabs, or you injure your hands on the oar. 04611236. Posted by; Date June 12, 2022; Comments . Cyc: What has all the Strava data taught you about cyclists? Today, there are millions of online subscribers. Also a Harvard graduate, Mark is a former venture capital executive and seasonedentrepreneur whohas been building successful companies for nearly 20 years, including Kana, which he co-founded alongside Michael asCEO, president, and chairman. The Build Cycle Podcast #022 - Strava co-founder Mark Gainey. 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. Hes a great guy. Its a real investment inside the business, and its a feature unique to Strava. Reno, for anybody who likes the outdoors, starting in first grade, we had PE at the local ski resort. They had been competitive rowers at Harvard, and both missed rowing life: its competition. in economics from Harvard (where he was mens lightweight crew team captain), Michael is a former Stanford economics professor and entrepreneurship professor at the Tuck School of Business at Dartmouth. Strava is the leading social platform for athletes and the largest sports community in the world, with over 98 million athletes in 195 countries. If youre clear on who your customer is, and you can understand their needs, even if youre a raw startup, you can be successful. Wed like to help people discover new opportunities, new friends, new routes, new places to travel and their next bucket list thing to go and do. The social aspects of Strava . There are certain days when the smell in the office is not from the servers and computers. With Strava, to this day, sometimes Ill hear, Oh, the clever little cycling company. You can go look at our early business plans. Michael Horvath is the Co-Founder & Board Member at Strava. Talk about what you learned in crew that youve applied in life. Welcome Anita Patwardhan Butler! Theres a universal language, and theres a universal set of needs that all athletes have. As I was graduating, I had not applied for any jobs. Over the coming months, Strava was focused on increasing its reach vis--vis integrations with other devices such as Google's Fitbit. Youre the one! You get injured. The one I always recommend is called, by David Halberstam. Michael and Mark initially met on the crew team at Harvard. Well, hes 82 years old. There was just an intense work ethic thats hard to describe. 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 . How did that happen? Theres an important sequencing. Our vision was always to support the global community of athletes, regardless of what sport theyre in. Founded in 2009 by Michael Horvath and Mark Gainey, Strava has become the go-to platform for millions of users around the world. But he was always my co-founder and engaged at Kana. 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 . MG: From day one we always said were about motivation and entertainment. visit my Resources page and click Sponsors. Nor am I paid to use Strava. It was pretty clear it was going to be hard for me to build a career there, so I left Reno. I had a Ritchey Ascent mountain bike from 1986. The technical storage or access that is used exclusively for anonymous statistical purposes. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. Believe it or not, Strava started out with the idea of being a virtual locker room. Cyc: What about helping people find new routes? - Career Earnings & Salary. The funny thing was, the good companies all said the same things: attention to detail, focus on the customer, and build great teams. Founded in 2009 by Mark Gainey and Michael Horvath, Strava has grown to boast tens of millions of users around the world across its mobile app and website. The thing I refer to nowthe boys will even joke with me, I call it SOB disease. MG: We know were not the experts when it comes to training for a first century ride but we know there are experts out there, so how do we allow them the opportunity to have a voice on Strava and how can members find that information? Mark Gaineycurrently serves as the co-founder and chairman of Strava. Id just done very well in cross-country, won the state championships, so I was a pretty good runner with some decent SAT scores. They were kind enough to let me figure that out. After graduating college in 1990, there was a brief period when I was back in Reno trying to figure out what to do next. Authenticity is one of the five core values inside the business. Everybody thinks of rowing as somewhat of an individual sport, but you have to figure out how to mix in effectively with eight other peopleseven other rowers and a coxswain. Its Strava on the Brain, and many an evening when Id be sitting there with the boys at dinner, or trying to have a conversation, and Im asking them about their day, they tell me how their day has gone, and I cant hear them. Michael Wolf ran engineering for us and is a world-class entrepreneur. Theyd bus us off to Mt. Tommy Gainey 's net worth is $5,674,367. Thats my customer. And her eyes lit up because she said that kind of focusnow I could go have a conversation with them. Side note: The three Ps used to include perfection. Mark Gainey is the co-founder and Executive Chairman of Strava, a global community of athletes with more than 50M members. He went off and got his PhD from Northwestern, and ended up here in the Bay Area as a professor of macroeconomics at Stanford. Theres a fine line between perfection and disaster, and you can apply all these things later on. I am not being compensated in any way for hosting Mark and Michael on the show. Frankly, as sophomores in high school, my sons are starting to talk about college. Theres a fine line between perfection and disaster, and you can apply all these things later on.. Its when our members are excited about their experience on Strava and theyre sharing it with their friends. Everybody thinks of rowing as somewhat of an individual sport, but you have to figure out how to mix in effectively with eight other peopleseven other rowers and a coxswain. Guru Singh On Positivity -- Why Receptivity Is The Better Path, David Sinclair On Extending Human Lifespan & The Science Behind Aging, http://media.blubrry.com/rrp/p/feeds.soundcloud.com/stream/604586484-richroll-rrp435.mp3. As I was graduating, I had not applied for any jobs. 00:00 / 00:00 / 24 July 2019. In fact, a key takeaway from the dot-com era, internet 1.0, is from this funny phrase: Oh, yeah, what a rocket ship. I used to remind everybody, Yeah, and what happens to rocket ships once they run out of fuel? To subscribe, or for other enquiries, please contact us. Through soccer came running. Where did that come from? Could I make one of those lightweight teams? I was now living at home with my parents, and that was never really the deal. I laughed. Strava attempts to end the loneliness of the long-distance runner (and cyclist) Chief executive Mark Gainey tells Ben Wright how the app is building a sporting network just like Facebook built a . I got to be a kid in Reno. 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. $ % ^ & ). At one point somebody did the calculationsthe number of hours we put in training for the few minutes that we actually raced in the spring season, because these were 2,000 meters long and six-minute races. By signing up, you agree to our Terms and Privacy Policy. I think we add a million people every 30 to 40 days, but I remember the first 10 that we put on Strava, and the first 15, and the first 20. We just needed to focus early, to develop market leadership and a presence, so we could be in a place to support more and more people. Lightweights had just been added to the Olympics, and the first opportunity was going to be in 92, I think, in Barcelona. It was worth a shot. Yep. While we will always support free, we wanted our community to understand that if youre a subscriber, its just going to get better and better over the coming months and years. 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. mark gainey strava net worth. Horvath, who co-founded the San Francisco-based social network for outdoor enthusiasts in 2009. Gainey explained that their dedicated user base loves not only the Strava platform but the company of Strava itself, and what it represents. Michael and I are not serial entrepreneurs, we dont get excited about starting new companies again and again. MG: If you go back to our roots, Michael and I were really interested in creating a trusted consumer brand. Our ethos is pretty simple and one of our core values is authenticity. I n the mid-90s, two former college friends, Michael Horvath and Mark Gainey, met to discuss an idea. Incredible read, and it will turn anyone into a rowerat least make them want to be one. CYC: How might the data from Strava Metro help to influencecity infrastructure? I was really lucky that group was willing to come together when it did. Then, in 2008, their passion for sports came full circle with the launch of Strava. What we learned from him over a two- or three-month period were a lot of the lessons I just told you about from crew. It wasnt as though we had this masterplan about how this was going to cover the entire world. In addition, Mark sits on the board ofAlter-G, BoardVantage, Daum, Clari, and Coaching Corps. Was it you and Michael from the beginning? For a complete list of all RRP sponsors and their respective vanity urls and discount codes,visit my Resources page and click Sponsors. He was busy raising a family. I am being sincere: I cant begin to tell you how valuable that experience was, from the friendships that have become lifelong business partnerships. The partners I worked for, even though they were venture investors and not entrepreneurs, gave me another piece of really important advice, which was to solve real problems. We have seen everything from political statements to people rooting for their favourite World Series team. We took a lot of cues from the grand brands Michael and I admired, and set out to see if we could go do something similar. 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. Company NMLS# 303719. mark gainey strava net worth. What I saw in my father as a surgeon was somebody who was incredibly dedicated to his patients, to his work. Apple We try to get away from the college discussion and more around, Lets figure out what youre interested in, and thatll lead to whatever the next chapter is. I think I owe that, again, to my parents. Dad did his residency in Denver, and I think they fell in love with the Rockies, and so the opportunity to be in the mountains, but closer to family, was compelling. Did you have to wait for the technology to catch up? 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. I saw one person was targeting my CRs. I used to remind everybody, Yeah, and what happens to rocket ships once they run out of fuel? To this day, I check eBay and other places looking for a vintage Ritchey to get back to my roots. I said, No way am I going to go, this kid from Reno, not even an interest. It was my father who was like, You do not have to go. Theres something uniquely special about being privy to the daily grind of my favorite multi-sport athletes. Meeting Nature Writ Large, RRP #394: Knox Robinson On Why Running Is An Act Of Rebellion, RRP #327: Lance Armstrong Is Moving Forward. Co-founders Michael Horvath and Mark Gainey spoke with Guy about the recent surge in users . Sign up to the Cyclist newsletter to receive curated emails direct to your inbox. Much of what Strava offers is about the analysis of your performance and importantly, keeping track of your training. Frankly, just looking at the complexity of leaderboards and how they operate and the costs associated with it, its significant. Q&A: Strava founder Mark Gainey The CEO and co-founder of Strava on the history of segments, Strava marriage proposals and the pain of losing his records to a teenager by Mark Bailey. It was chained to a fence, and I went off to work. Tommy Gainey best year was 2010-11 . This was pre-internet, so Id get all these newspapers, and Id pull all the want ads out of the Sunday papers from around the country. Our conservation has been edited for brevity. Download Our Free App! So I tend to focus on one thing, but I know I can only do it for x-period of time. I wasnt thinking about working. The grit and determination and persistence. Video, editing byBlake CurtisandMargo Lubin. Now you can access, stream, download and share theentireRRP catalog in the palm of your hand on any iOS mobile device (iPhone, iPad and iPod Touch) with ourmobile app. Horvath currently heads up the company as CEO, while Gainey serves as executive chairman. MG: In our very earliest days when we were still alpha testing we took 10 people on the west coast and 10 on the east coast and asked them to participate on this website for a month during the Tour de France. You never saw him complain about having to get up at 3 a.m. and take care of somebody. It was a great product. You had to do it other than just to race, and really. Nothing to write home aboutby no means a perfect score, but good. Folks, my name is Mark Gainey. My parents gave me a great choice. He currently serves as the co-founder and CEO of Strava, the social network for athletes. I talked about how much fun I had on the crew team at Harvard. 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. Weve raised about $70 million today, and if you look at our investors, were really fortunate. What was that like for you, still in your 20s, to watch a company grow that quickly? So she went outside and dragged in this skinny 16-year-old kid and she said he was in love with Strava. He was teaching while I was working at TA Associates. I remember spending afternoons on my little BMX bike, or with a soccer ball, with a football, and playing with other kids. 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. This is not the first time though that Michael Horvath has left the company. I am simply a fan of the platform. Apple Podcasts|YouTube|Spotify|Stitcher|Google Podcasts. Strava was founded in San Francisco in 2009it released Strava Metro in 2014.. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. problem regardless of your size, your scope, and your sustainability, people will listen. We both rowed crew at Harvard in the late '80s and thrived on the camaraderie and motivation of training with teammates. for 1000s of delicious, customized plant-based recipes & so much more, check out our Plantpower Meal Planner, Subscribe & Review:iTunes|Stitcher|Soundcloud| GooglePlay. Michaels trajectory was a little different. Thats been my strategy. It was super fun. 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. Strava is entirely focused towards athletes. Its one of the few apps still featured on the home screen of my phone years after downloading it. What shocked us was the level of banter that was going on between people who didnt know each other at all. 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. 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. By 2008, he and Gainey were meeting up for brainstorming sessions that would result in the birth of Strava. MeetStrava the fitness social network designed by athletes for athletes. Anybody sitting in this Starbucks could be a potential customer. I mean, the beauty is anybody who would have a need. operators and investors by subscribing. I was the oldest of three. Cyclists know every hill and every grade theyre on. It used to be KOB disease. Alright, good afternoon. We have tens of millions of people on Strava today. And Id be happy to do reads for Strava in the future. Mark Gainey: Born in Denver, Colorado, but raised in Reno, Nevada. Mark Gainey 15:34. Paul Holland ran sales for us. Our vision was always to support the global community of athletes, regardless of what sport theyre in. 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? The company's application offers the ability to record fitness activity, analyze, share and compare data against themselves, friends, and pros, enabling users to discover, share and plan workouts and training together for better growth and results. Those are not brands that were built overnight. Mark also co-founded Kana Communications, an enterprise CRM firm, in 1996 and served in various capacities, including CEO, president, and chairman. We had this old idea about a virtual locker room after we rowed together at Harvard, but by 2009 two things had changed. My dad was a general surgeon. He was such a good partner because he was the yin to my yang. How to nurture it. Thats my only experience with rowing, but it was impressive. So Im doing it again. This week we hear from Mark Gainey, co-founder and Chairman of Strava, the social network for athletes. To this day, Im not really sure why I chose one and not the other, but I did, and no regrets. Strava's co-founder Mark Gainey, set to run cross-country as a freshman at Harvard in 1986, was sidelined by an injury. You see how many people are riding together all the time. That changed the game for us, enabling us to grow the network more effectively. Listen on 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. He started telling me his story, and to this dayhe doesnt even know thishe is one of my key mentors in life. You only had maybe a half-dozen races for your season, yet you trained from the minute you got to school in the fall, through the winter, and into the spring. For the second time in the company's history, Michael Horvath is stepping down as CEO of Strava. Ive lost touch with most of the guys. Strava took over again. Work backwards from $10 billion, and solve that problem. 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. Jim had this amazing story. Create an account to follow your favorite athletes, experts and topics. The social network connects athletes in . We strive to provide ongoing services for our clients before and after the sale and work together to create a great environment where we can learn, grow and succeed together. 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