Fitness Startup Peloton Files For IPO
FITNESS STARTUP PELOTON FILES FOR IPO WITH ANNUAL REVENUE OF $915 MILLION
(CNN) – Peloton has filed for an initial public offering.
The indoor fitness startup says it generated $915 million in revenue in its most fiscal year.
That’s more than double the year prior.
Even so Peloton’s net losses are growing; with the company losing more than $195 million in the most recent year.
Peloton filed IPO paperwork on Tuesday.
Peloton is best known for its internet-connected indoor bikes and subscription cycling classes that can be streamed live or on-demand into homes.