For a long time, she was the role model for many founders: the success story of runtastic. In 2015, Florian Gschwandtner, René Giretzlehner, Alfred Luger and Christian Kaar sold the software company from Pasching (Upper Austria) to Adidas. About 220 million euros! Now the sporting goods giant is pulling the plug on the company. 170 employees are affected by the closure.
After the takeover by Adidas in 2015, for which the Germans paid around 220 million euros, Runtastic has become increasingly quiet in recent years. While the founders around Florian Gschwandtner have repeatedly made themselves known to the outside world, the tide is turning in the hands of the sporting goods giant.
Last year, the first staff cuts were announced. Of the approximately 250 employees, 70 had to leave. On Monday, the remaining employees were informed that Adidas was pulling the plug on Runtastic. The lights will go out at the locations in Pasching (Upper Austria), Salzburg and Vienna.
Runtastic was founded in 2009 by Florian Gschwandtner, René Giretzlehner, Christian Kaar and Alfred Luger. As an investor, Hansi Hansmann was a supporter from the beginning.
At the end of 2018, Gschwandtner left the company and was succeeded as CEO by Scott Dunlap.
What does Adidas say about this? The company explains that in the future it will bundle activities around the ‘adidas Running’ app from Herzogenaurach, Amsterdam and Zaragoza. The three Runtastic offices will therefore be closed by mid-2025.
170 employees affected
The currently approximately 170 employees can apply for positions at adidas locations. “We will do everything we can to make the transition as smooth as possible and provide comprehensive support,” said Tobias Seemann, Senior Vice President Global Digital & eCommerce at adidas.
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.
