The name Runtastic has become synonymous with a successful start-up in Austria. But now almost no stone is left unturned at the company in Pasching (Upper Austria). A reshuffle is taking place under the sporting goods multinational adidas, which has owned the sports app specialist since 2015. 70 employees have to leave.
As the ‘adidas Training’ app will be discontinued in the coming months and Runtastic will only focus on the running app in the future, the Pasching-based software specialist’s team will also be significantly downsized. 70 of the currently 250 employees of the company, which operates from Pasching (Upper Austria), will have to leave in the coming months.
Make the change process respectful
“This move is very challenging for all of us,” said Runtastic CEO Scott Dunlap. “We do everything we can to ensure that the change process is respectful.” Due to the huge need for IT and software specialists across the country, the affected employees must be able to find a new job quickly.
Founded by Quartet in 2009
Runtastic was founded in 2009 by Florian Gschwandtner, Christian Kaar, René Giretzlehner and Alfred Luger. Hansi Hansmann acted as a key investor during the years of growth before the company was sold to adidas in 2015. Purchase price: 220 million euros. Until the end of 2018, Gschwandtner was still CEO of Runtastic, but now he is mainly a talking point as an investor. He recently developed his own push-up app called “100 Push-Ups Push-Up Coach”.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
