Venture Capital
Stationary Bike Startup Peloton Seeks Unicorn Valuation
Peloton sells $1,995 exercise bikes along with streaming classes that cost $39 a month.
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Peloton Interactive Inc., the company that sells exercise bikes with tablets that stream live spin classes, is seeking to raise at least $120 million at a valuation of $1.2 billion, two people familiar with the company's fundraising said.
The bikes are $1,995 with a $250 delivery fee. To take the classes, cyclists must purchase a $39 monthly class subscription. The five-year-old company, based in New York, has developed something of a cult following among busy consumers who relish a class atmosphere without having to leave the house.