At-home exercise has always been a weird — but lucrative — market. Why do you think you’ve seen Bowflex commercials for the past three decades?
And where there’s money, there are tech companies looking for their piece of the pie. Enter Peloton, a four-year-old startup that sells internet-connected stationary bikes tied to a livestreamed subscription workout experience.
Peloton is now worth about $1.25 billion thanks to its latest round of funding. That makes the at-home connected-bike company the latest unicorn, or private company worth $1 billion or more.
Peloton has $325 million in fresh capital from this new round, with money coming from a variety of name-brand investors, including Wellington Management, Fidelity Investments, and Kleiner Perkins. Comcast NBCUniversal also got in on the action. Read more…
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