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Peloton reported a net loss of $30.5 million in the fourth quarter. That was a major improvement from the $241.8 million net loss posted in the year-ago period.
Peloton became the face of at-home fitness during the COVID-19 pandemic. Learn about Peloton's recent growth and what to consider before investing in its stock.
Peloton Interactive was founded in January 2012. [5] "Peloton" is a cycling term, meaning a large group of riders bunched together. [6] The company raised $400,000 in seed money in February 2012 and another $3.5 million in December 2012. [7] Peloton sold its first bike on Kickstarter in 2013 with an early bird price tag of $1,500. [8]
Foley co-founded Peloton in 2012. The company went public in 2019, and he had a net worth of approximately $1.9 billion in 2021. As Peloton began to experience financial difficulties related to the COVID-19 pandemic, his net worth declined to approximately $225 million in November 2022. [6]
The benefit is that subscriptions carry a stellar gross margin of 68.2%, whereas Peloton barely makes money on its equipment sales. To be clear, though, if Peloton were still selling its bikes and ...