Komoot
👤 Markus Hallermann + 5 co-founders (Six outdoor friends, near-zero VC, remote since 2017 — 15 years compounding a community trail-data moat rivals can't buy.)🌐 siteLinkedIn
Six friends grew a hiking app to 45M users and $54M revenue, then sold to a buyer known for mass layoffs.
Will it work? · our read
Patience compounded. 45M users and $54M revenue on almost no VC is a bootstrapping masterclass. But goodwill was the only durable moat, and the 2025 paywall plus the sale put it at risk.
01How the money moves
Free route planner draws in 45M outdoor users
→
New accounts now need an active Premium subscription (one-off map unlocks ended Feb 2025)
→
Premium subscriptions plus legacy map sales = about EUR 50M a year (2024)
02The numbers
about $54MEstimate2024 revenue, reported
2024source:
50m
the sentence on the page
on 12/03/2025, and that Perella Weinberg is guiding the sale, marketed off 2024 revenues of EUR 50m and EBITDA of EUR 12m. Transaction announcement Opportunity originally surfaced by NKP | M&A…
Revenue and price were disclosed in the M&A process and reported by press, not filed by the company. BusinessWire
EUR 50M revenue and EUR 12M EBITDA in 2024, up from EUR 35.5M in 2023 — figures disclosed during the 2025 sale process.
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See a full teardown, free → ImportYetiSourcesSources last checked 25 August 2026
BusinessWire — Bending Spoons acquires komoot (2025)Mainsights — komoot EUR 50M revenue, EUR 12M EBITDA, EUR 300M dealDC Rainmaker — komoot acquired, revenue and layoffsroad.cc — new komoot subscription paywall for route synckomoot — the story and mission (founders, history)
Revenue (EUR 50M / about $54M in 2024, EUR 35.5M in 2023, EUR 12M EBITDA) and the EUR 300M / about $324M price were disclosed during the 2025 M&A process and reported by press, not filed by the company — sourced STATED, not first-party verified. EUR-to-USD at about 1.08. komoot was not bootstrapped: its own acquisition release names four backers (KRW Schindler, Outdoor Secondary, MBG Beteiligungsgesellschaft Berlin-Brandenburg, LP Capital), and the sellers' law firm calls the first two the venture funds holding the largest stake outside the founders. Bending Spoons closed the full acquisition on 20 March 2025. The 'dies' failure-mode is [our read]; the 2025 paywall backlash is documented; the layoff scale (DC Rainmaker: 'roughly 85% of the staff being let go within the first two weeks, upwards of about 150 people') rests on his unnamed sources, not on any komoot or Bending Spoons statement. We never score you.