This has been a big year for Peloton: Not only did the company’s business expand beyond its indoor spin bike and accompanying cycling program with a tricked-out treadmill, Peloton Tread, but it also joined the ever-growing roster of virtual sweat apps by launching Peloton Digital, which gives users access to more than 10,000 classes—plenty of which don’t require a single piece of equipment. Still, a brand-new round of funding proves all of these developments are only the beginning.
Peloton just received a $550 million Series F financial round from the technology growth equity firm TCV, according to a press release. The injection of funds will assist with the company’s continued growth, especially when it comes to virtual fitness. Now, given Peloton’s new valuation at a staggering $4 billion, there are plenty of funds to fuel some exciting new initiatives that are already in the works—and world domination is just one of ’em.
By early 2019, you can expect 20 more open doors in the US, UK, and Canada, which will set the total at 60 worldwide.
Aside from plans to launch the Peloton Bike in the United Kingdom and Canada this fall as its first moves outside the states, the company is also expanding its retail showrooms. By early 2019, you can expect 20 more open doors in the US, UK, and Canada, which will set the total at 60 worldwide. In addition, there are also plans to open the 35,000 square foot Peloton Studios complex in New York City, which will be home to everything from broadcast and production operations to multiple studies that will offer thousands of group fitness classes—all of which will be streamed live for those sweating it out at home. Additionally, the funding will also continue to grow Peloton Digital’s instructor-led classes, giving you access to even more content on the cheap for less than $20 per month.
One thing’s for sure: Since its initial launch in 2012, Peloton has only continued to shape the wellness scene, making it easy to achieve the vibe of a boutique studio—including access to the best of the best instructors—right in the comfort of your own home. And with other big players following suit—including ClassPass, which recently launched its free audio-only workout app—it’s becoming increasingly clear that the future of fitness is digital.
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