2012
John Foley raised an initial $400,000 from friends and family at a $2 million post-money valuation to start Peloton.
“he ends up raising $400,000 to start from friends and family at a $2 million post money valuation.”
Topic
Peloton Interactive
19 facts from 2 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
2013
Peloton's 2013 Kickstarter raised $307,332 against a $250,000 goal.
“So they raised $307,332 in the Kickstarter. Their goal was 250.”
2014
Tiger Global put $5 million into Peloton's $10 million 2014 round at a $35 million post-money valuation and later became the largest shareholder at IPO with just under 20%.
“it was a $10 million total round on a $35 million post where Tiger put in $5 million. Tiger would go on to become the largest shareholder at IPO, owning just under 20% of the business.”
2019
In 2019 the National Music Publishers Association sued Peloton, first for $150 million and then for $300 million, over music licensing.
“they get sued for first $150 million. And then they up it to $300 million by the music publishers, National Music Publishers Association.”
2019
Peloton's revenue for the 12 months ended June 30, 2019 was $915 million.
“for the 12 months leading up to June 30, 2019, it did revenue of 915 million.”
2019
Peloton's September 2019 IPO priced at about $8 billion and fell 11% on its first day to a $7.2 billion market cap.
“prices around $8 billion, but then trades down 11% on opening to a $7.2 billion market cap.”
2020
John Foley said Peloton's three-month COVID digital trial drew close to 1.2 million people within 45 days, up from about 100,000 digital subscribers.
“within 45 days, we had close to 1.2 million people who had jumped on the trial.”
2020
In December 2020 Peloton announced it would buy fitness equipment maker Precor for $420 million in cash.
“perhaps the most puzzling is in December 2020, they announced that they're buying Precor for $420 million in cash.”
2021
Peloton's monthly churn was about 0.6% in its last full fiscal year before the episode, or roughly 7% annually.
“Monthly churn was like 0.6%, worked out to about 7% annual churn.”
2021
Peloton's revenue was $1.8 billion in fiscal 2020 and $4 billion in fiscal 2021.
“Revenue in the fiscal year ended June 30th, 2020 is 1.8 billion in the fiscal year ended June 30th, 2021 is $4 billion.”
2021
In spring 2021 Peloton announced the Peloton Output Park in Ohio to bring manufacturing in-house.
“they announce in spring of 2021 that they are going to build the Peloton Output Park to insource their own manufacturing in Ohio.”
2021
Peloton grew from about 4,000 employees in January 2021 to about 9,000 a year later before its layoffs.
“as of January, 2021, they had 4,000 employees that ballooned over the next year to about 9,000 before these recent layoffs.”
2021
Activist investors pointed out that John Foley sold $96 million of Peloton stock in 2021.
“John Foley sold $96 million of Peloton stock in 2021 when the price was really high.”
2022
Activist investor Blackwells Capital announced a 5% stake in Peloton and called for John Foley to resign and for a strategic sale process.
“an activist investor called Blackwell's capital comes out and announces that they've accumulated a 5% stake in Peloton.”
2022
According to Peloton's proxy statement, John Foley controls about 39.6% of the company's voting power.
“According to Peloton's proxy statement, he controls 39.6. So right around 40% of the voting power of Peloton stock”
Undated
Peloton raised the bike's price from $1,200 to $2,245 after buyers saw the lower price as a sign of weaker hardware, and it came to be seen as a premium product.
“they raised the price up to $2,245, that then in people's minds, this becomes this like jewel premium, expensive, aspirational luxury product.”
Undated
According to a music industry report cited by the host, Peloton pays 3.1 cents each time a song is heard on a ride.
“Peloton pays out 3.1 cents every time that you are on a ride and hear a song.”
Undated
About 28% of Affirm's revenue in the year before its IPO came from its zero-percent financing arrangement with Peloton.
“Because at the time of IPO, of Affirm's IPO, 28% of all of the revenue in the previous year leading up to the IPO was from the Peloton deal.”
Undated
Ransbotham cites Peloton as an example of a device that gives real-time feedback on exercise form.
“Peloton has a device that sits in your room and it can say, Um, you call that a plank, buddy.”
Episodes