The cult fitness brand may have reported rising revenues this year, but its losses are also climbing.
: Peloton has priced its initial public listing at $29 per share, at the top end of the range, giving the cult fitness brand at valuation of $8.1 billion despite mounting losses.
The firm has raised $1.16 billion and will start trading on the Nasdaq on Thursday with the ticker symbol ‘PTON’. Peloton’s share price, announced on Wednesday night, is at the top of the $26-$29 range. Peloton was valued at $4.15 billion when it raised $550 million from investors in August 2018. It comes after the company reported revenue of $915 million in the year to June 2019, but losses rose to more than $195 million, up from almost $48 million the previous year.: Peloton has gained legions of fans, celebrity and civilian, with its $2,245 bikes and $4,295 treadmills accompanied with virtual trainers, many of whom have become stars in their
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