Peloton
- Peloton, a venture capital investor favorite, publicly released its documentation for its public offering on Tuesday.
- The connected fitness hardware maker confidentially filed its intent to go public earlier this year.
- It will trade on the NASDAQ under the "PTON" ticker.
- Visit Business Insider’s homepage for more stories.
Peloton is going public.
The buzzy maker of internet-connected stationary bikes and other fitness equipments publicly released paperwork for an IPO on Tuesday, revealing a business with spiralling losses that outpace its revenue growth.
In its S-1 filing on Tuesday, Peloton said it planned to trade on the NASDAQ exchange under the "PTON" ticker.
According to the public filing, Peloton saw its losses nearly quadruple over the course of a single fiscal year, from $47.9 million net loss in 2018 to $245.7 million net loss in fiscal 2019. In the same time period, revenue rose from $435 million to $915 million.
Since it was founded by CEO John Foley in 2012, the company has raked in a total of $994 million in venture capital and was most recently valued at $4 billion, according to Pitchbook data. The public filing released Tuesday named CP Interactive Fitness, TCV, Tiger, True Ventures, and Fidelity, as stakeholders that own at least 5% of the company.
The startup, known for its subscription fitness classes and premium-priced stationary bikes, is a personal hit among venture investors in Silicon Valley and New York.
This story is developing…
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Source: Business Insider – mhernbroth@businessinsider.com (Megan Hernbroth)