Peloton: Fitness start-up seeks to raise $1.3bn in market debut

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Fitness start-up Peloton plans to raise up to $1.3bn ([/img]

Users then purchase a subscription to access classes streamed live and on-demand. The firm said it has more than 1.4 million members."On the most basic level, Peloton sells happiness," founder John Foley previously said. In a regulatory filing, the firm said it plans to offer 46 million shares, priced between $26 and $29 per share. That would give the company a market value of up to $8.2bn.Peloton's most recent earnings report showed a rise in revenues but the company fell short of turning a profit. For the year ended 30 June, revenues more than doubled to $915m while its net loss widened $195.6m from $47.9m.
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The company rents office space for the long-term, subletting that space to firms and individuals on more flexible lease terms.
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