One of the most popular companies in America is finally going public. Peloton, a company incorporated in 2012, is a luxury sports equipment and media company, officially announced only recently that the company will be bringing out their IPO.
CEO John Foley was found saying, “An IPO in 2019 would make sense.” As per various reports, the company has been interviewing various banks as it prepares for its IPO. In a press conference, the company also said that it has elected to file a confidential filing as many other start-ups, including UBER and Slack, have done in the past.
In the last round of funding, which was in August 2018, the company was valued at $4.15 billion. However, presently, after the announcement of IPO and its decisions, the company has not disclosed as to how many shares it plans on selling and under what price range will these shares fall under.
Last year, the CEO had remarked, “Peloton has a weird business model and is quite profitable.” The company began in 2014, wherein it brought in a connected door cycle for the first time. The best part about this cycle was that it had a screen mounted on the bicycle and it had various on-demand shows on the screen.
Since the popularity of Peloton, other traditional gyms and fitness centers have added tablets and screens to their fitness cycles, which has led to various companies such as SoulCycle, and NordicTrack.
In 2018, the company came up with its second type of fitness equipment, the Peloton Tread treadmill. However, the customers suspect that there is yet another model that the company is working on, probably a rowing machine. Various customers found the URL pelotonrowing.com and many other websites, all of which are hosted under Peloton Interactive.