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Fitness startup Peloton looks to raise over $1.1 billion under its IPO

Author : Paroma Bhattacharya | Published Date : 2019-09-11 
  • The company generated revenues of $915 million in its most recent financial year, which is more than double of what the company had posted in the year previous.
     
  • The company had sought to raise approximately $500 million when it filed paperwork for its IPO, but these initial amounts usually change based upon investor demand.

Peloton, American exercise equipment and media company founded in 2012 and headquartered in New York, United States, is seeking to raise approx. $1.1 billion as a part of the company’s initial public offering (IPO).

Reports cite, the startup specializes in indoor treadmills and stationary bikes which can be utilized to participate in online workout classes which are subscription-based.

The company had proposed to set its shares prices between $26 and $29, offering approximately 40 million shares. Peloton plans to list on the Nasdaq stock exchange under the ticker PTON. The company recently filed paperwork for its initial public offering. Peloton had sought to raise approximately $500 million when it filed, however, these initial amounts usually change depending on investor demand.

The company generated revenues of $915 million in its most recent financial year, which was completed on June 30 – more than double of what the company had posted in the year previous. But it has also suffered a loss of $195.6 million in its most recent financial year, which increased from $47.9 million in the year prior.

The company has grown its connected subscriber count more than twofold in a year with the count standing at over 511,000 as posted on June 30.

Peloton's treadmill prices start from $4,295 while its indoor bikes rates start from $2,245. Both these machines need memberships of the company that cost $39 per month and offers runners and riders access to live and on-demand classes.

About Peloton;

Peloton is an American exercise media and equipment company which was founded in 2012 and is headquartered in New York, United States.

 

Source credit: https://edition.cnn.com/2019/09/10/tech/peloton-ipo-raise-billion/index.html

About Author

Paroma Bhattacharya

Paroma Bhattacharya

Paroma Bhattacharya, having completed her post-graduation in Journalism and Mass Communication, started her career in writing with resourceful and informative content development across diverse fields. Having dealt in myriad topics ranging from business to real estate, she now pens down articles for fractovia.org and other portals. She can be contacted at- [email protected] | https://twitter.com/paromab1

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