Peloton Interactive, the on-demand fitness company best known for its networked indoor cycling bike, has officially announced that it will go public after months of comments from CEO John Foley Banks asked to prepare for its IPO. Today, Peloton announced in a press release that it has decided to file a confidential file. This is the same method that other technology startups have been using lately, including Lyft, Uber and Slack.
Peloton has not clarified how many shares it intends to sell or what the price range would be. The final round of financing in August 2018 put the fitness company at $ 4.1
Peloton began selling its networked indoor cycling bike It has a monitor on which users can stream live or on-demand courses to follow. Other traditional cycling studios and fitness equipment manufacturers have launched similar devices. Brands like Flywheel, SoulCycle, and NordicTrack now offer their own versions of Connected Bike or On-Demand content. In 2018 Peloton delivered its second device, the peloton treadmill. It is rumored that the company is working on its third device, a rowing machine, after customers have found the pelotonrowing.com (and other rudder related domains) registered at Peloton Interactive. In April of this year, Peloton had some problems after artist groups sued the company because Peloton did not get the right sync license to use certain music content. Peloton has since counted, and the case is still ongoing.