Half a decade after its founding, Peloton became a unicorn. During its short existence, the company has found tremendous success riding the wave of successful spin classes that includes the likes of SoulCycle and Flywheel.
Peloton offered a unique take on the space, harnessing technology to provide a state of the art version of the phenomenon from the comfort (and privacy) of the user’s home. Peloton’s pricey bikes live-stream spin classes, through a subscription based service.
Since its founding, Peloton has managed to double the size of its company, year over year, while raising $444.7 million, at last count. In a recent interview, CEO and co-founder John Foley called the company, “weirdly profitable.”
The company released its first bike in 2014. Last year, it added a treadmill to its list of livestream devices, along with a more rugged version of its bike targeted at gyms and hotels. Peloton has continued to expand its reach with the additions of showrooms, designed at bringing the experience closer to users who might otherwise not have an opportunity to interact with the company’s $2,000 devices.
Foley will join us Disrupt in San Francisco this September to discuss how the company has managed to grow so quickly, while avoiding the pitfalls of putting too much stock into the latest fitness trends.