At home, on-demand, interactive fitness has really taken off over the past decade. The leader in this industry, Peloton Interactive, has announced plans to go public sometime this year. CEO John Foley has stated numerous times that it would make sense for Peloton to go public.
Peloton is currently valued at $4.15 billion. Representatives of Peloton revealed in a recent press conference that they have elected to submit a confidential filing, much like fellow tech startups Slack, Lyft, and Uber. Peloton has not stated how many shares they intend to sell, or what the price range for those shares will be.
The popularity of Peloton really started to take off after they introduced their connected indoor cycling bike in 2014. Last year, Peloton added to their indoor cycling bike with the release of their Peloton Tread treadmill. As of now, it has been speculated that Peloton is working on a third connected piece of indoor fitness equipment. Many people believe that Peloton will be releasing an indoor rowing machine sometime before the end of this year, or the beginning of next year.
Peloton is currently in a litigation battle with members of the National Music Publishers Association (NMPA) over the improper use of the music used in their fitness classes. The group of members from the NMPA are suing Peloton for over $150 million in damages. However, Peloton isn’t letting the lawsuit get in the way of their plans. A month after first being sued, Peloton countersued the group, seeking financial relief for the damages caused by the lawsuit, and for the expense of litigation. Peloton claims that they have secured rights for all the music they use from all major and several minor independent record labels. The lawsuit is currently ongoing.