iPhone 6s
ƒ/2.2
4.15 mm
1/30
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And an exploration of our favorite fitness function — a live DJ ride.
I never liked stationary bikes, or indoor exercise of any kind, until this.
3 responses to “Going backstage at Peloton HQ”
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This just in from Axios:
Last week there was a Bloomberg report that Peloton, the "Netflix for bikes" that effectively offers professional spin classes in a user’s home, is seeking to raise $120 million in new VC funding at around a $1.2 billion valuation. So I spent some time on the phone with John Foley, Peloton’s co-founder and CEO, to better understand how a stationary bike maker could get a software unicorn valuation. He wouldn’t talk about the still-active financing, natch, but here are some takeaways:
• Peloton is best known for hardware, but Foley believes it’s more a software and media biz.
•The company generated $170 million in revenue last year, up from $50 million in 2015.
•Last month it streamed one million rides. Monthly subscriber churn is just 0.3%.
•Peloton discussed bringing rivals Soul Cycle and Flywheel onto its platform.
•Its most popular store isn’t in the cold-weather north, but in Dallas, Texas
Peloton has a plan to reduce "sticker shock" on its $2k bike, but also believes it can make a "value" argument in the event of a recession.
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Compare with Zwift that is networked game-ified cycling that uses existing hardware (your bike) for realistic experience. Recent A-round..
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