Peloton’s net worth is a topic that may strike your attention if you are interested in their services. This New York-based fitness firm offers a wide range of services, from fitness equipment and monthly subscriptions to exercise classes.
The company’s founders, John Foley and Tom Cortese started the company in January 2012. Peloton Interactive LLC raised a seed funding of $400 thousand in February 2012 and $3.5 million in December 2012. The company has risen in popularity for its internet-connected fitness equipment, and its current net worth stands at $6.76 billion.
Are you interested in knowing more about the company’s net worth, history, and how the it operates? Read on to find out.
What is Peloton Interactive LLC?
Founded back in 2012, Peloton Interactive LLC came through the idea to use technology to help busy individuals exercise at home. After securing a $3.9 million seeding fund, the company managed to sell its first exercise bike on Kickstarter for $1500 in 2013.
However, the company’s first stationary bike came out to the public in 2014. In January 2018, Peloton launched its first treadmill, the Tread+, in Las Vegas, featuring a 32” screen and a soundbar for streaming the live classes. This has since seen a range of fitness equipment and products follow suit.
Peloton Interactive LLC announced its expansion plans in Canada and the United Kingdom in May 2018. This expansion came alongside the news of a construction project in New York’s Manhattan district. In September 2019, Peloton became a public company through an Initial Public Offering (IPO) and raised $1.16 billion.
What Is Peloton’s Net Worth?
Knowing a company’s net worth is vital before engaging or investing in it. As a mindful investor, you want to invest wisely, which warrants putting your money where there is potential growth. Similarly, knowing the net worth value as an employee or shareholder is essential in understanding how stable the company stands.
To understand a company’s net worth deeper, you have to know how to calculate the net worth. Typically, a company’s net worth is the number of assets over liabilities.
Also, note that a company may have intangible assets crucial in the net worth calculation. Hence, you must amass the total value of assets and subtract the liabilities and intangible assets to get the actual tangible net worth.
As of May 2022, the net worth of Peloton Interactive LLC stands at $6.67 billion.
The combination of the company’s fitness products and subscriptions is what generates its revenue. Peloton’s $39 monthly subscription fee affords you access to the brand’s live classes. And its $12.99 monthly subscription will grant you access to its website or app content.
Peloton continues to offer fitness equipment and programs for busy Americans to exercise from the comfort of their homes. And through the success of its fitness product sales and subscriptions, the company’s net worth stands at $6.67 billion.