// startup autopsy
Runtastic
From Austrian dorm room to Adidas boardroom
acquisition gone wrongAcqui-hire
Fatal mistake: Runtastic did not fail — it succeeded spectacularly, being acquired by Adidas in 2015 for €220M after building one of Europe's largest fitness app communities.
Key Events Timeline
FOUNDING
Runtastic founded in Linz, Austria by Florian Gschwandtner and co-founders as a GPS fitness tracking app.
FUNDING
Raised approximately $214K in external funding; grew primarily through organic viral adoption.
PRODUCT LAUNCH
Expanded product suite to 20+ fitness apps reaching 50M+ downloads across platforms.
ACQUISITION ATTEMPT
Adidas begins acquisition talks with Runtastic, drawn by its 70M+ registered users.
SHUTDOWN
Adidas officially acquires Runtastic for €220M (~$240M), ending its independent existence.