Peloton Pedals Its Way Up the Fitness Mountain

People don’t exercise for a number of reasons. One of the biggest excuses is not having enough time. John Foley, a working father of two, shared this problem with his wife. They were unable to attend their favorite spinning classes due to packed schedules. Foley wanted to bring those classes home, so he linked up with colleague Tom Cortese and spun this idea into a reality.

Foley and Cortese fused streaming technology with fitness to create Peloton. Peloton allows users to stream thousands of workout classes taught by celebrity instructors from all over the country. They began selling their streamline stationary bikes equipped with a 21.5” screen in 2014. The company quickly acquired a cult following as spinning classes like SoulCycle and Flywheel gained popularity, and in 2018 the company was worth around $4.15 billion.

They have since raised their prices and added a treadmill, as well as a digital app for those who are unable to purchase the equipment. Peloton’s stationary bike rides in at $2,245 while the treadmill runs $4,295. On top of purchasing their equipment, you must pay $39 a month to use their streaming services. These prices are high, but the reviews claim it’s worth the money—especially if you consider what you might pay for high-end classes or gym memberships.

Peloton continues to grow in popularity among the fitness community. Even celebrities such as David Beckham, Hugh Jackman, and Leonardo DiCaprio have all joined the Peloton pack. The company has sold over 400,000 units and filed for IPO, planning to go public in 2019. Peloton shows no signs of slowing down, so sit back and enjoy the ride.