A bunch of cycling enthusiasts just helped Peloton Cycle raise $325 million — betting it could be ‘the Apple of fitness’
- 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,