The private equity firm behind MyFitnessPal is reportedly considering a sale of the popular nutrition and fitness tracking platform, a move that could value the company at more than $1 billion, according to sources familiar with the situation.
Francisco Partners, which acquired MyFitnessPal from Under Armour in 2020, is said to be working with JPMorgan to manage the sale process. The sources spoke on condition of anonymity due to the confidential nature of the discussions.
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Rising demand for digital health and fitness solutions in recent years has fueled the popularity of platforms like MyFitnessPal, Apple Health, and Peloton App One, along with wearable devices such as Oura Ring. This growing interest has also prompted other companies in the sector to explore expansion opportunities, with Strava reportedly considering an initial public offering last year.
Francisco Partners and JPMorgan declined to comment on the matter, while MyFitnessPal did not immediately respond to requests for comment.
Founded in 2005, MyFitnessPal was acquired by Under Armour in 2015 for $475 million. It was later sold to Francisco Partners in 2020 for $345 million, with additional payments tied to performance-based targets.
The Austin-based MyFitnessPal is estimated to generate nearly $150 million in annual earnings before interest, taxes, depreciation, and amortization, according to sources familiar with the matter.
MyFitnessPal allows users to track calories, vitamins, weight, and exercise routines, while also offering meal plans, recipes, and on-demand workout videos. Although the app is free to use, it includes a premium subscription option priced at $24.99 per month or $99.99 annually.
The company reported last year that it has more than 280 million users across over 120 countries, highlighting its global reach and popularity.
Francisco Partners, which owns the platform, is headquartered in San Francisco and is a technology-focused investment firm that has raised more than $50 billion in capital to date.
