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Interactive Platoon, the on-demand fitness company best known for its connected indoor cycling bike, has officially announced its intention to go public after CEO John Foley announced for several months that an IPO in 2019 "would make a lot of sense". interviewed banks for its IPO. In a press release, Peloton announced today in its press releases that it has chosen to submit a confidential document, a method identical to that used by other technology startups, including Lyft, Uber and Slack.
Platoon did not specify how much stock he was planning to sell nor what would be the price range. His last fundraiser in August 2018 valued the fitness business at $ 4.15 billion. Foley noticed last year that Peloton had a "good business model" and that it was "strangely profitable".
Peloton started selling its connected indoor cycling bike in 2014. It has a monitor on which users can take live or on-demand courses in order to track them. Since its inception, other traditional cycling studios and fitness equipment manufacturers have developed similar devices. Brands such as Flywheel, SoulCycle and NordicTrack now offer their own versions of a connected bike or class content on demand.
In 2018, Peloton shipped his second equipment, the Tread Treadmill. Rumor has it that the company may be working on its third equipment, a rowing machine, after customers found the pelotonrowing.com URL (and other areas related to the avir) registered under Peloton Interactive. In April of this year, Peloton had some hiccups after groups of artists sued the company, alleging that Peloton had not obtained the appropriate sync license to use certain musical contents. Platoon has gone after since and the case is ongoing.
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