Peloton valued itself at up to $8.2 billion
- Peloton Interactive Inc, the fitness startup known for on-demand workout programs on its exercise bikes, is planning to raise up to $1.33 billion in an initial public offering.
The New York-based company in a regulatory filing said it expects to offer 46 million shares, including underwriters' option, priced between $26 and $29 per share. [The top end of the indicative price range gives the company a market value of $8.23 billion, based on 283.7 million outstanding shares, including the IPO underwriters’ option.
Founded in 2012, Peloton sells indoor bicycles in packages requiring memberships to access live and on-demand classes from home.For the year ended June 30, Peloton’s revenue more than doubled to $915 million. However, the company saw its net loss widening to $195.6 million from $47.9 million.
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