Exercise tech darling and service provider Peloton has filed for IPO with a confidential draft submission of its S-1 statement to the SEC on Wednesday. The company announced the news in a press release, and did not disclose the terms of its initial public offering in the release.
Peloton’s entry into the market was via its smart exercise bike, which is custom hardware paired with a large interactive display, through which users can access courses and streamed classes and coaching.
Earlier the year, Peloton released its latest product, a connected treadmill with similar service offerings for members. The company, which last raised a round of $550 million in funding in August and has a valuation at around $4 billion, has inspired similar home health and fitness businesses including smart mirror ‘Mirror,’ which caters to more generalist home exercise routines and which recently raised at a nearly $300 million valuation.