Exclusive-Fitness tracking app Strava looks to hire banks for IPO

FILE PHOTO: The logo of Strava Inc covers a wall at the fitness app company’s headquarters in San Francisco, California, U.S., March 7, 2018. Picture taken on March 7, 2018. REUTERS/David Ingram/File Photo

-Strava, the popular fitness tracking platform, is looking to hire investment banks for its U.S. initial public offering, people familiar with the matter said.

The San Francisco-based company, valued at $2.2 billion in afunding round completed in May, has invited banks including Goldman Sachs, JPMorgan and Morgan Stanley to pitch for roles on the IPO, the people said, asking not to be identifiedbecause the matter is confidential.