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Home / Business / Peloton announces itself publicly for IPO – TechCrunch

Peloton announces itself publicly for IPO – TechCrunch



Peloton, the well-funded manufacturer of stationary bikes and treadmills with Internet access, has finally released documents for its upcoming IPO. Earlier, in June, the company submitted a confidential draft to the US Securities and Exchange Commission for submission of its S-1 statement.

The company, which aims to raise $ 500 million for its Nasdaq offering, is traded under the symbol PTON. [19659002] Peloton reported total revenue of $ 915 million for the fiscal year ended June 30, 2019, up 110% from $ 435 million in fiscal 2018 and $ 218.6 million in 2017 Company losses increased from 2019 to $ 245.7 million, a net loss of $ 47.9 million last year.

The company has reached 1

.4 million community members, defined as every person who owns a peloton account.

Peloton customers subscribe to the company's digital library of fitness content that is streamed live and streamed on call for $ 39 a month in addition to purchasing hardware that costs more than $ 2,200 apiece. The company indicates that 58 million training sessions were completed by Peloton users during the 2019 fiscal year, while the subscriber base reached an all-time high of 511,202. Peloton class1 SCREEN ” width=”3000″ height=”2000″ srcset=”https://techcrunch.com/wp-content/uploads/2019/08/Peloton_class1_SCREEN.png 3000w, https://techcrunch.com/wp-content/uploads/2019/08/Peloton_class1_SCREEN.png?resize=150,100 150w, https://techcrunch.com/wp-content/uploads/2019/08/Peloton_class1_SCREEN.png?resize=300,200 300w, https://techcrunch.com/wp-content/uploads/2019/08/Peloton_class1_SCREEN.png?resize=768,512 768w, https://techcrunch.com/wp-content/uploads/2019/08/Peloton_class1_SCREEN.png?resize=680,453 680w, https://techcrunch.com/wp-content/uploads/2019/08/Peloton_class1_SCREEN.png?resize=50,33 50w” sizes=”(max-width: 3000px) 100vw, 3000px”/>

Regarding subscription revenues, Peloton reports $ 181 million for fiscal 2019 after $ Peloton co-founder and CEO John Foley writes in the S-1: "Peloton Sells Luck." [19659008] "Peloton is so much more than a bike – we believe we have the opportunity, one of the most innovative global technology platforms our time, "Foley writes. "It's an opportunity to establish one of the most important and influential interactive media companies in the world. A media company that changes lives, inspires greatness and unites people. "

Peloton, founded in 2012, raised $ 550 million in venture capital last year, valued at $ 4.15 billion. The start-up, initially struggling to convince venture capitalists of its vision, has since launched a new wave of fitness tech companies, including a smart mirror company known as the Mirror.

Overall, Peloton raised $ 994 million in venture capital funding, according to the PitchBook. Its S-1 application lists CP Interactive Fitness (5.4% pre-IPO) – a company that has entered into partnership with private equity firm Catterton – TCV (6.7%), Tiger Global (19.8%). ), True Ventures (12%) and Fidelity Investments (6.8%) are major players or investors with at least 5% ownership in the company.

Goldman Sachs & Co. and JP Morgan Securities manage the IPO as lead draftsman.


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