Peloton, the maker of pricey in-home bicycles and treadmills paired with on-demand fitness classes, announced today that it has filed to go public confidentially. The New York-based company said it has not yet determined the number of shares to be offered or the price range.
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The news is not shocking as we all knew it was coming. In February, our EIC Alex detailed the company’s funding history in advance of the big day. Since it was founded in 2012, Peloton has raised nearly $1 billion. Its most recent raise was a $550 million Series F that was announced last August at a $4.15 billion valuation.
Backers include many heavyweight investors such as TCV, Kleiner Perkins and Tiger Global Management, among many others.
As for its financials, Alex wrote in February that “Peloton has posted material revenue and strong top-line growth in recent years. The subscription exercise shop put up around $400 million in revenue during 2017 and is on said to be on track for $700 million in its current fiscal year. That’s the sort of growth that investors love from venture-backed companies like Peloton.”
Illustration: Li-Anne Dias
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