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Peloton, best known for its exercise cycles, announced Wednesday it has filed with the securities regulatory authorities an initial public offering.
Peloton, who confidentially filed the documents, said he had not yet decided on the number or price range of the shares he intends to sell. Companies with less than $ 1 billion in sales can file confidentially under the Employment Act.
The company manufactures cycles and treadmills with screens to allow users to take live and recorded fitness clbades from their homes, hotel rooms or offices. CEO and co-founder John Foley described Peloton as a fitness, technology and media company.
Peloton was founded in 2012 and sold its first cycle in 2014. The cycles are priced at $ 2,000 and the treadmills priced at $ 3,995. Subscriptions to access clbades cost $ 39 per month. The company also began selling digital subscriptions last year to allow people to access training courses without buying Peloton equipment.
Platoon collected $ 550 million last year, bringing its total external funding to $ 1 billion and its value to $ 4 billion. Its investors have included Tiger Global Management, Catterton, Fidelity and TCV, according to Crunchbase. Peloton has been on CNBC's "Disruptor 50" list for the past two years.
2019 has been a busy year for IPOs. Uber, Lyft and Pinterest are among the companies that became public in the first half of the year.
Disclosure: Comcast-NBCUniversal, parent company of CNBC, is an investor of Peloton.
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