Peloton has confidentially filed to go public

Peloton/Business Insider

  • Peloton has confidentially filed to go public.
  • The maker of luxury indoor exercise bikes filed a draft registration statement with the Securities and Exchange Commission, a key step in the process of securing a public listing for its stock.
  • The price range and number of shares to be offered hasn’t been decided yet.
  • Read more about Peloton on Markets Insider.

Peloton has confidentially filed to go public.

The maker of luxury indoor exercise bikes has submitted a draft registration statement for review by the Securities and Exchange Commission – a key step in the process to secure a public listing of its stock – according to a press release.

The price range and number of shares to be offered haven’t been decided yet. Peloton expects the initial public offering to commence after the SEC completes its review of the statement, subject to market and other conditions.

Peloton bikes come equipped with screens, allowing users to traverse digital landscapes and join virtual spinning classes. The company also launched a treadmill earlier this year.

The group raised $US550 million in a Series F funding round in August, giving it a $US4 billion valuation, according to Crunchbase. It has raised about $US995 million to date from investors including Fidelity and Kleiner Perkins, the website states.

The basic Peloton package – which includes a bike, a one-year limited warranty, and delivery and setup – costs $US2,245, according to its website. That rises to nearly $US2,700 for a family package that includes two pairs of shoes, two pairs of headphones, two heart-rate monitors, two water bottles, one set of weights, and a bike mat.

This story is developing. Check back for updates

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