Peloton Pumps Up for its Upcoming IPO

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Peloton, the company that brought live trainers and exercise equipment together in the homes of fitness buffs everywhere, made the move everyone expected it to make: file for its initial public offering.

The startup which has become a powerhouse in home fitness products, plans to raise $500 million from its IPO, according to its S-1 statement to the Securities and Exchange Commission, detailing the company’s plans and its finances to this point.

Among the key details, 1.4 million people are sweating to the live instructional videos motivating and encouraging its users. This action helped Peloton score $915 million in total revenue for the year ending June 30, 2019, up from $435 million in 2018. It lost $245.7 million in 2019, a jump from $47.9 million the previous year.

Since 2012, Peloton has had eight fundraising rounds, which cumulatively have totaled $995 million, according to startup funding tracker Crunchbase. It’s last funding round, Series F in February 2018, netted $550 million from such investors as Kleiner Perkins, NBC Universal, Tiger Global Capital, and Wellington Management.

When Peloton goes public, it will trade on the NASDAQ stock exchange under the ticker symbol, PTON.