July 16th, 2021 12:00am
This is a bit of a shocker, but then again, maybe not. Media acquistions have always been a thing. Build an audience, sell to bigger fish, big fish now has a monopoly. Baby fish makes new media channel, grows, rinse and repeat. But this time it is the 800lb gorilla, Pinkbike along with all of its other holdings. I for one didnt know they owned Trail Forks or CyclingTips but then again, I don't really watch them that closely.
Anyway, I see this as a possible good thing too. The more clout a media company that like the outdoor lifestyle gets, maybe we can get some more coverage than just stick and ball sports and all the drama that goes with that. Either way, we arent going to change that, so lets keep riding and read the official announcement about the sale - below.
Boulder, Colorado — July 14, 2021 — Outside, the world’s leading creator of active lifestyle content, services, events, and experiences, today announced the acquisition of Pinkbike and sister brands CyclingTips and Trailforks. The deal represents a significant expansion of Outside’s leadership position in cycling media and mobile mapping technology, and it adds an array of premium benefits and best-in-class content to Outside+, the company’s popular consumer membership.
Pinkbike is a digital and video-centric media business created in 1998 and operated by British Columbia-based mountain biking enthusiasts Radek and Karl Burkat. With more than 700 million annual pageviews, it is recognized as the global leader in mountain bike content and entertainment. Its stories, product reviews, and thriving marketplace drive more than 50% of the category’s total pageviews, and it has successfully expanded into reality TV production among other product extensions. In recent years, Pinkbike acquired CyclingTips, a rapidly growing news site for road and racing fans, and launched Trailforks, a GPS-enabled trail database with more than 300,000 mountain biking and hiking routes and 6 million users.
“This acquisition is a key moment in fulfilling our mission to build a vibrant home where active lifestyle participants will discover a wide range of content and tools to fuel their adventures. We’re very excited and honored to welcome the Burkats and their team to our family,” said Outside CEO Robin Thurston. “As a lifelong cyclist, I’m a huge fan of these brands, which are perfect complements to our own cycling titles—VeloNews, Peloton, Beta, and Bicycle Retailer—and to our recent acquisition of Gaia GPS, the dominant mobile mapping app for hikers, backpackers, and overlanders. The marriage of these businesses creates a truly comprehensive resource for all types of cyclists and outdoor adventurers.”
“Like Robin, we know that riding bikes can change lives,” said Radek Burkat. “We founded Pinkbike to show the World how amazing mountain biking is and to inspire others to get out and ride and fall in love with the sport like we had. Joining Outside gives our team an opportunity to tell stories to an even bigger audience and to collaborate with world-class journalists at the other brands and sports in our new family. We’re also thrilled to bring our Trailforks technology and community into the ecosystem that Outside is building. In partnership with Gaia, we intend to map every trail in America, and eventually the world, so that Outside+ members can ride, hike, run, and ski with greater confidence and safety.”
The core Pinkbike and Trailforks teams will continue operating out of their offices in Squamish, BC. CyclingTips will maintain its office in Australia, and its U.S.-based staff will join the larger Outside team in the company’s headquarters in Boulder. Progress Partners acted as sole financial advisor to Outside in the deal. GP Bullhound acted as sole financial advisor to Headwater Equity Partners and Pinkbike.