Business Model Canvas Executive Summary

             Strava builds online and mobile software that allows avid athletes to record, analyze and share their fitness endeavors. The firm, launched in 2010, targets competitive cyclists and runners who use the software for motivational and entertainment purposes.  Strava offers free and premium accounts, with over 90% of their revenues coming from the subscription fees paid by its premium account members (citation).

            Strava has a limited number of key partners and relies heavily on its internal design and engineering team to deliver a unique experience to its users.  A majority of its costs come from employing these individuals and supplying the technology needed to develop and improve its online and mobile software.  These two cost items are necessary in executing its key activities.

            Strava’s customer segments are a well-defined group of passionate and enthusiastic cyclists and runners.  The firm’s value proposition taps into this group’s commitment to physical fitness and addiction to a healthy and active lifestyle.  Its customer relationships are strong, as the software and mobile app are considered a trusted partner and resource to many of its users.  Despite is solid value proposition and loyal customer base, a large number of its current users are not paying for this service.  Strava must focus on retaining their current premium members and converting their free members to premium, fee-based accounts.

            Strava’s key resources will be of increasing importance in the near term.  Funding will be an issue since the firm is not yet profitable (citation).  In addition, employing a staff with the skills and expertise to grow its premium customer base will be absolutely necessary if the firm is to be successful in the future.