A bunch of cycling enthusiasts just helped Peloton Cycle raise $325 million — betting it could be ‘the Apple of fitness’
05/28/2017 General World News
peloton bicycle

  • Peloton, the indoor-fitness company, has raised $325 million from investors including Wellington Management, Fidelity Investments, Kleiner Perkins, and Comcast NBCUniversal.
  • The deal, likely to be the last financing round before the company goes public, was put together by a number of cycling enthusiasts.
  • The company is on a steep-growth curve: It has tripled annual revenue, to $170 million, in just a year, and has 100,000 paying subscribers.

Noah Wintroub picked up the phone and cold-called Peloton Cycle founder and CEO John Foley.

A vice-chairman at JPMorgan, Wintroub had ordered a Peloton Cycle indoor bike. Convinced that Foley had built a great product, read more >>>

Source:: BusinessInsider.Com

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