By Tim Silva
April 1, 2023
Nike, Inc., the world’s largest supplier of athletic shoes and apparel and a major sports equipment manufacturer, with fiscal year 2022 revenue of more than $46 billion, has purchased LetsRun.com. Neither the purchase price nor any other consideration for the deal was disclosed. A Nike spokesperson announced the acquisition yesterday afternoon.
Nike has acquired several sports footwear and equipment companies over the past 35 years, most notably Cole Haan, Hurley International, Bauer Hockey, Umbro and Converse, and in recent years has acquired a consumer data analytics company, a ‘predictive analytics and even a virtual footwear company that makes NFTs, but the acquisition of LetsRun marks its first foray into the world of sports fan websites from which it was born.
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What will become of the popular website and its long-term assets remains unclear, but the Nike spokesperson addressed some key near-term plans.
LetsRun.com will be renamed NikeLetsNikeRunNike.com, the official said, “because Nike will always be the first, middle and last name of the run.” The website will not promote or report on events sponsored by Nike’s rivals. Nike will continue to operate LetsRun’s world-famous message boards, but Nike commercial activities, products, athletes and personnel will be off-limits, a policy that must be enforced through automated screening processes. LetsRun employees involved in content production, marketing, advertising and the technical side of operations will be retained until they can be replaced by a younger, cheaper workforce based in Asia.
Co-founder of LetsRun Weldon Johnson said: “I can understand how some readers will be surprised by this news. But when Phil Knight he personally says to you, “I’m going to make you an offer you can’t refuse,” you don’t refuse. Not if you know what’s good for you. My brother and I have families. We thought, do it. We had a good run, but if you can’t beat them, join them. I really shouldn’t say anything else. You know who might be listening.”
With the acquisition, it is uncertain whether Nike will still pay interns to browse the LetsRun.com message boards.
Tim Silva lives in Washington, DC and has been a LetsRun.com reader since the beginning.
