Headquarters: 441 Ninth Avenue, Sixth floor
New York, NY 10001
CEO: John Foley
Stock Symbol: PTON
Peloton operates a high-tech fitness platform which includes an Internet-connected exercise bike and treadmill for use at homes or in hotels.
Both the bike and treadmill feature a high-definitiion video screen that lets you stream fitness classes and workout with instructors and others online from the comfort of your own home.
The Peloton bike sells for $1,495 and the Bike+ with a larger screen sells for $2,495. and the treadmill sells for $2,495. Membership is required to use streaming video to access instructional classes starting at $39 per month.
The company launched its own Peloton Apparel brand in September 2021.
Peloton operates 123 retail locations in the U.S., Canada, U.K. and Germany that let users try and buy the bike or treadmill.
The company operates three retail formats including large showrooms which range from 1,500 to 3,000 square feet and “microstores” which are typically around 300 square feet. Large showrooms comprise 73% of retail locations and provide space for Connected Fitness Products and Peloton-branded apparel, as well as private areas for “test rides” and “test runs.” Microstores represent 15% of retail locations and are typically placed in highly visible “center court” areas. Concession stores represent 12% of retail locations and consist of a presence within a partner's retail space in the U.K. and Germany.
The company says it has over 5.9 million members as of June 30, 2021. The pandemic has boosted Peloton's business with people staying at home and not attending gyms in person.
Peloton generated $4.02 billion in revenues for fiscal 2020 but reported a net loss of $189.0 million. The company has yet to turn a profit.
As of June 30, 2021, Peloton employed 6,743 people in the United States across New York City headquarters, Plano campus, Atlanta office, showrooms, and field operations warehouses. Internationally, there were 828 employees in the United Kingdom, Germany, and Australia across corporate, showroom, and warehouse functions, 135 employees in Canada largely in showroom and warehouse roles, and 160 individuals in Taiwan across manufacturing, quality engineering and operations functions.
In April 2021, Peloton completed the acquisition of exercise manufacturer Precor for $420 million and added Precor's 796 employees located across 14 countries to its team, with most based primarily in manufacturing facilities in North Carolina and Washington state. The company plans to hire additional seasonal employees in our field operations, Member support, and showrooms during the holiday season.
Peloton was founded by John Foley in 2012 along with four other co-founders. They set out to create the most convenient and immersive indoor cycling experience in the world.
The Peloton Bike was launched in 2014 and the Peloton Tread went on sale in 2018.
Peloton went public at $29 per share on September 29, 2019.
Peloton recalled its treadmill in May 2021 after reports of children were killed or injured after slipping under the machines.
Peloton offers flexible work schedule, 401(k), commuter benefits, educational assistance and health care package.
Employees also get catered lunch on Fridays and kitchen with snacks and beer.
Employees get unlimited cycling classes, discounts on Peloton bikes and company parties.