Peloton eyes $8bn valuation in IPO

Peloton is eyeing a valuation of up to $8.2bn in its initial public offering, according to an updated filing with securities regulators on Tuesday night.

The exercise start-up, known for its on-screen fitness classes and stationary bikes that retail for around $2,000, plans to offer 40m class A shares priced between $26 and $29, it said in an SEC filing.

Including an underwriters’ option for an additional 6m shares, Peloton intends to raise up to $1.33bn through the IPO.

The company published the prospectus for its widely anticipated IPO last month after filing confidentially in June. The documents showed Peloton’s losses had climbed nearly fourfold to $196m in the 12 months to June 30.

In August last year, Peloton was valued at $4.15bn in a $550m funding round led by venture capital firm TCV.

Peloton has said it will list the A shares on Nasdaq under the ticker “PTON”. The company also has supervoting class B common shares, which carry 20 votes apiece, giving executives including John Foley, co-founder and chief executive, and early backers including Tiger Global, Fidelity and True Ventures control of Peloton.


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