Home All news

Peloton heading for IPO

Indoor cycling firm, Peloton, sometimes billed as the ‘Netflix for fitness’, has confidentially submitted a draft registration statement with the US Securities and Exchange Commission (SEC). This relates to a proposed initial public offering (IPO) of Peloton’s common stock.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The IPO is expected to commence after the SEC completes its review process, subject to market and other conditions.

Peloton has been making waves with some high profile advertising in markets such as the USA and UK. It has shaken up the indoor cycling market with a premium positioning and extensive brand activation.

 

 

Peloton was founded in 2012 by former Barnes & Noble e-commerce executive John Foley. The company’s co-founders are Tom Cortese, Yony Feng, Hisao Kushi and Graham Stanton. By early 2019, Peloton had reportedly sold 400,000 bikes. These are connected devices, with prices starting at US$2,245.

All bikes require a monthly Peloton Membership. This is priced at US$39 a month. Membership fees are billed upon the activation of the bike and give unlimited Peloton class content. In 2018, Peloton also released a treadmill offering – the Peloton Tread.

According to the company, the Peloton bike offers users… ‘the most convenient and immersive indoor cycling experience, streaming daily live classes from our NYC studio directly into your home. You’ll have 24-hour access to studio cycling classes available to your entire household.’

To date, Peloton has reportedly raised over US$900 million in funding. Further details on the IPO, in terms of the expected share price and number of shares to be offered, will follow when available.

www.onepeloton.com

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.