Indoor fitness start-up Peloton has launched plans for an IPO to raise $500m, after revenues more than doubled to $915m and despite losses quadrupling to $195.6m. The company has doubled the number of subscribers to its internet-connected bikes and cycling classes to more than 511,000. In a statement on Thursday, Peloton's chief executive, Jim Pugh, said that he was "excited about our future prospects in this new market". The amount the firm wants to raise in the IPO could change depending on investor demand.
Indoor fitness start-up Peloton has launched plans for an IPO to raise $500m, after revenues more than doubled to $915m and despite losses quadrupling to $195.6m. The company has doubled the number of subscribers to its internet-connected bikes and cycling classes to more than 511,000. Peloton also offers treadmills fitted with touchscreens for classes and has a total of 1.4 million members. The amount the firm wants to raise in the IPO could change depending on investor demand.