Breaking News: Nike to Purchase LetsRun.com
By Tim Silva
April 1, 2023
Nike, Inc., reportedly the world’s largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with fiscal year 2022 revenues of more than $46 billion, has purchased LetsRun.com. Neither the purchase price nor any other considerations in the deal were disclosed. A Nike spokesperson announced the acquisition late yesterday.
Nike has acquired various shoe and sports equipment companies over the past 35 years — notably Cole Haan, Hurley International, Bauer Hockey, Umbro, and Converse—and in recent years acquired a consumer data analytics company, a predictive analytics company, and even a virtual shoe company that makes NFTs, but the acquisition of LetsRun marks its first foray into the world of websites for fans of the sport from which it got its start.
What will become of the popular website and its assets over the long term remains unclear, but the Nike spokesman addressed a few key near-term plans.
- LetsRun.com will be rebranded as NikeLetsNikeRunNike.com, the official said, “because Nike will always be the first, middle, and last names in running.”
- The website will not be promoting or reporting on events sponsored by Nike’s rivals.
- Nike will continue to operate LetsRun’s World Famous Message Boards, but Nike business activities, products, athletes, and personnel will be off-limit topics, a policy to be enforced by automated screening processes.
- LetsRun employees engaged in content production, marketing, advertising, and the technical side of operations will be retained until they can be replaced by a younger, cheaper labor force based in Asia.
LetsRun co-founder Weldon Johnson said, “I can understand how some readers will be surprised by this news. But when Phil Knight personally comes to you and says, ‘I’m gonna 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, screw it. We had a good run, but if you can’t beat ’em, join ’em. I really shouldn’t say anything more. You know who may be listening.”
With the acquisition, it is uncertain if Nike will still pay interns to surf the LetsRun.com message boards.
Tim Silva, lives in Washington, DC, and has been a LetsRun.com reader since the beginning.