Zwift, Inc.
Private Long Beach fitness software company behind the Zwift virtual cycling and running platform, valued near $1 billion after KKR's Series C.
Company Type
private
Founded
2014
Headquarters
Long Beach, California, USA
Revenue
Estimated $150 to $250 million annually (private, not disclosed)
Employees
Approximately 400 to 500
Primary Market
Global
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About Zwift, Inc.
What does Zwift own?
Zwift owns its virtual cycling and running platform, the Zwift Hub smart trainer and Ride hardware products, the Zwift Academy program, and related content and event properties. It operates as a single-brand company.
Is Zwift publicly traded?
No. Zwift is a private venture-backed company with no public listing. It raised a $450 million Series C in 2020 led by KKR at a valuation near $1 billion.
Who founded Zwift?
Eric Min, Jon Mayfield, Alarik Myrin, and Scott Barger founded Zwift in 2014 in Long Beach, California. Min, a former JPMorgan executive, remains CEO.
Where is Zwift headquartered?
Zwift is headquartered in Long Beach, California, with international offices supporting its European and global operations.
How many subscribers does Zwift have?
Zwift has reported more than one million subscribers, making it the largest virtual cycling platform. Growth slowed after the pandemic-driven surge but the base has largely retained.
Who owns Zwift?
Zwift is owned by its founders and venture investors. Eric Min and the founding team retain significant stakes, and KKR is the largest institutional shareholder following the 2020 Series C alongside Permira, Highland Europe, and Amazon's Alexa Fund.
History of Zwift, Inc.
Eric Min, a former JPMorgan executive and competitive cyclist, founded Zwift in 2014 with Jon Mayfield, the lead developer who built the platform's core graphics and multiplayer systems, along with Alarik Myrin and Scott Barger. The Long Beach team launched the beta in 2015 and grew through word of mouth among cyclists frustrated with existing indoor training options.
The platform's timing proved ideal. Smart trainers became widely available in the late 2010s, and the 2020 pandemic lockdowns drove an explosion in indoor cycling that multiplied Zwift's subscriber base. The $450 million Series C that year, led by KKR with participation from Permira, Amazon's Alexa Fund, and others, positioned the company for hardware and global expansion.
Post-pandemic growth normalized as gyms reopened, but the platform retained most subscribers and continued developing features including structured training plans, new worlds, and the Zwift Run hardware ecosystem. The company has held its valuation roughly steady through the fitness market correction that hit Peloton and competitors harder.
Zwift, Inc. Sustainability & Ethics
As a software company, Zwift's environmental footprint is limited to data centers and hardware production. It publishes no ESG reporting and holds no major sustainability certifications.
The relevant ethical dimension is data stewardship around user health and performance information, plus the governance of a competitive platform where anti-cheating measures and fair racing integrity affect its esports credibility.
Controversy, Regulation & Public Scrutiny
Zwift's public record is relatively clean. The company has faced user disputes over pricing changes, anti-cheating enforcement decisions in competitive racing, and occasional platform outages, none reaching regulatory or legal significance.
No major data breaches, litigation, or regulatory actions attach to the company.
Brands Owned by Zwift, Inc.
Zwift, Inc. owns 1 brand in our database. Explore the ownership tree below — click categories to expand and see individual brands.
Zwift, Inc.
private · Founded 2014 · Long Beach, California, USA
1
brands
Zwift, Inc. Ownership: Pros & Cons
Advantages
- +Category leadership with the largest user base and strongest network effects in virtual cycling
- +Subscription model produces recurring revenue with strong retention among committed users
- +Founder leadership has been stable since inception
- +Venture backing provides capital without the pressure of public earnings
- +Hardware expansion increases ecosystem lock-in
Considerations
- -Post-pandemic normalization slowed subscriber growth across fitness
- -Cycling is a niche sport limiting the total addressable market
- -Running expansion competes in a crowded fitness software category
- -Private valuation near $1 billion implies eventual pressure for liquidity
- -Platform economics depend on continuous content investment
Frequently Asked Questions About Zwift, Inc.
What does Zwift own?
Zwift owns its virtual cycling and running platform, the Zwift Hub smart trainer and Ride hardware products, the Zwift Academy program, and related content and event properties. It operates as a single-brand company.
Is Zwift publicly traded?
No. Zwift is a private venture-backed company with no public listing. It raised a $450 million Series C in 2020 led by KKR at a valuation near $1 billion.
Who founded Zwift?
Eric Min, Jon Mayfield, Alarik Myrin, and Scott Barger founded Zwift in 2014 in Long Beach, California. Min, a former JPMorgan executive, remains CEO.
Where is Zwift headquartered?
Zwift is headquartered in Long Beach, California, with international offices supporting its European and global operations.
How many subscribers does Zwift have?
Zwift has reported more than one million subscribers, making it the largest virtual cycling platform. Growth slowed after the pandemic-driven surge but the base has largely retained.
Who owns Zwift?
Zwift is owned by its founders and venture investors. Eric Min and the founding team retain significant stakes, and KKR is the largest institutional shareholder following the 2020 Series C alongside Permira, Highland Europe, and Amazon's Alexa Fund.
Sources & Further Reading
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