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 bootstrapped 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
→
They unlock map regions once, or buy Premium
→
Map sales + subscriptions = about $54M a year
02The numbers
45M
registered users
komoot
about $54M
2024 revenue
Manager Mag
about $324M
2025 sale price
press
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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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 took one small state-fund seed (about $1.6M, 2014) and is otherwise bootstrapped. The 'dies' failure-mode is [our read]; the 2025 paywall backlash and post-sale layoffs are documented. We never score you.