Endomondo was founded by three athletes in 2007. Their mission statement was to make exercise more fun. Today (January 2015), their popular app, the Endomondo Sports Tracker, has more than 24 million users, spread across 200 countries. The app works as having a personal trainer in your pocket. A user just has to open it and press start when going for a walk, a run, cycling or other kinds of distance-based exercise.
The app registers distance covered, time, calories burned and other kinds of data. It also offers voice messages regarding your current tempo while exercising, and your friends can send small messages of encouragement, which are read aloud, while you are exercising.
In 2013, Preben Damgaard joined the Endomondo board, and Damgaard Company invested in the company. At the time of the investment, Endomondo had about eight million users.
From late 2013 until the end of 2014, the number of users increased to 20 million in over 200 countries. More than a third of all Danes had the app installed on their smartphones. 2014 was also the year that the company reported a yearly operating profit. Until the sale to under Armour, the company was run by founder Mette Lykke.
Seven years after the founding of the company, it was one of Denmark’s most successful stars-ups ever. In early 2015, it was sold to the American company Under Armour.
24 million users ensure solid Endomondo bonus (Børsen - Danish)
Danish exercise app sold for 575 million Danish Kroner (Berlingske Business - Danish)
The price of Danish Endomondo? 575.000.000 Danish Kroner (Jyllands-Posten - Danish)
Endomondo sale is a golden egg for nearly all its employees (Børsen - Danish)