Peloton is the latest consumer tech company to file a confidential IPO
. Peloton has raised over $900 million in funding, and was valued at $4.15 billion after its latest round in August, according to PitchBook. It did not release the price and number of shares to be offered.
Consumer tech IPOs this year are having mixed success. Pinterest stock is up 31% from its IPO price. Uber spent weeks below its IPO price before closing Wednesday flat, at $45. Lyft shares are down 12% from the IPO price. New York-based Peloton jumped onto the fitness scene in 2012 as a solution for solitary at-home workouts. Thebusiness was founded by John Foley, Yony Feng, Tom Cortese, Graham Stanton and Hisao Kushi. The bikes and treadmills, which retail for $2,245 and $4,295 respectively, come equipped with large touchscreens that allow users to connect to live and recorded classes. Users are required to purchase a $39/month membership for access to classes.