Peloton (company)

Peloton Interactive, Inc.
Industry Exercise equipment
Founded 2012
Founders Graham Stanton, Hisao Kushi, John Foley, Tom Cortese, Yony Feng
Headquarters New York City, New York
Number of locations
 37 (Retail)
2 (Studios)
Key people
 John Foley (CEO)
William J. Lynch Jr. (President)
Products Stationary bicycles and treadmills
Services Fitness classes
Number of employees
 400 (2017)
Website www.onepeloton.com

Peloton is a New York City based exercise equipment and media company, founded in 2012. The company's main product is a luxury stationary bicycle that allows users to stream spinning classes for the company's fitness studio through a monthly subscription service.[1]

History

Peloton was founded by Graham Stanton, Hisao Kushi, John Foley, Tom Cortese, and Yony Feng in 2012.[2]

In January 2017, William J. Lynch Jr. joined Peloton as company president.

In May 2018, Peloton announced plans to expand into Canada and the United Kingdom in fall 2018.[3]

In June 2018, Peloton acquired Neurotic Media, a music distributor.[4]

Products

Bike

Peloton's stationary bike was released in 2014 for $2,000 and contains a 22" touchscreen to watch classes, which runs on a custom version of Android.[5] The bike also requires cleats, which lock into the pedals.[6]

Classes for the bike are streamed live from Peloton's cycling studio in Chelsea, Manhattan and uploaded the company's subscription service for future viewing.[7] The studio is also open to the public to take classes at.

A version of the bike designed for commercial environments was unveiled in January of 2017.[8]

Tread

Tread is a $4,000 treadmill unveiled by Peloton at the Consumer Electronics Show in January 2018, which will begin shipping in fall 2018.[9] Like the bike, classes are available through a large touchscreen computer that is mounted at the front of the treadmill.[10]

Subscription

Peloton Digital is a monthly subscription service that allows users to stream the company's classes on their iOS device.[11]

Funding

Before launching its stationary bike and fitness platform, Peloton raised $3.9 million in 2012 for product development.[12]

In April 2014, Peloton raised a $10.5 million series B round of funding.[13]

In April 2015, Peloton raised a $30 million series C round of funding.[14]

In December 2015, Peloton raised a $75 million series D round of funding.[15]

In May 2017, Peloton raised a $325 million series E round of funding, valuing the company at $1.25 billion.[16]

In August 2018, Peloton raised a $550 million series F round of funding, valuing the company at $4 billion.[17]

Peloton Interactive plans to go public in 2019.[18]

References

  1. ↑ LaVito, Angelica (23 May 2018). "Peloton CEO John Foley says fitness company is 'weirdly profitable'". CNBC. Retrieved 3 August 2018.
  2. ↑ Mitra, Sramana (12 July 2017). "Billion Dollar Unicorn Peloton - Cycles Into The Club". Yahoo News. Retrieved 4 August 2018 – via LinkedIn.
  3. ↑ Shankar, Bradly (10 May 2018). "Peloton's connected spin bike is coming to Canada this fall". MobileSyrup. Retrieved 4 August 2018.
  4. ↑ Fernandez, Marisa (27 June 2018). "Peloton acquires music distributor Neurotic Media". Axios. Retrieved 3 August 2018.
  5. ↑ Eadicicco, Lisa (31 May 2018). "Working Out Is Hard. Streaming Just Might Make It Easier". TIME. Retrieved 4 August 2018.
  6. ↑ Goode, Lauren (25 April 2018). "My two-month ride with Peloton, the cultish, internet-connected fitness bike". The Verge. Vox Media. Retrieved 4 August 2018.
  7. ↑ Frieswick, Kris (May 2016). "This Startup Will Keep You From Ever Going to the Gym Again". Inc. Retrieved 4 August 2018.
  8. ↑ Takahashi, Dean (4 January 2018). "Peloton launches immersive fitness bike for commercial gyms". VentureBeat. Retrieved 3 August 2018.
  9. ↑ Hanbury, Mary (27 February 2018). "We tried the new $4,000 treadmill from the billion-dollar startup that could be 'the Apple of fitness' — here's the verdict". Business Insider. Retrieved 3 August 2018.
  10. ↑ Schomer, Stephanie (9 January 2018). "Peloton Just Unveiled a $4,000 Treadmill -- and Everything Is Riding on It". New Haven Register. Retrieved 4 August 2018.
  11. ↑ Moscaritolo, Angela (20 June 2018). "Get Your Sweat On With Peloton App (No Pricey Machine Required)". PC Magazine. Retrieved 4 August 2018.
  12. ↑ "Peloton". AngelList. Retrieved 4 August 2018.
  13. ↑ Dorbian, Iris (24 April 2014). "Tiger Global leads Series B round for Peloton". The PE Hub Network. Retrieved 4 August 2018.
  14. ↑ Buhr, Sarah (16 April 2015). "Stationary Bike Startup Peloton Expands Production And Distribution With $30M In New Funding". TechCrunch. Oath Inc. Retrieved 4 August 2018.
  15. ↑ Porter, Kiel (1 December 2015). "Peloton Raises $75 Million From Serial Fitness Backer Catterton". Bloomberg News. Retrieved 4 August 2018.
  16. ↑ Rao, Leena (24 May 2017). "This Tech Cycling Company Is Now Worth $1 Billion". Fortune. Retrieved 3 August 2018.
  17. ↑ Sawers, Paul (2 August 2018). "Peloton snags $550 million in new financing, valued at $4 billion ahead of expected IPO". Fast Company. Retrieved 3 August 2018.
  18. ↑ Griffith, Erin (3 August 2018). "Peloton's New Infusion Made It a $4 Billion Company in 6 Years". The New York Times. Retrieved 4 August 2018.

See also

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