Connected fitness company Peloton priced its IPO last night, raising $1.16 billion with shares priced at $29 a piece. That price didn't hold for too long, with the company closing its day out at $25.76.
According to Bloomberg, this makes Peloton the third-worst US trading debut in 10 years for companies that have raised at least $1 billion prior to their IPO.
The dip may partly be tied to Peloton...
Connected fitness company Peloton released its IPO prospectus Tuesday, revealing grim financials, even by today's startup IPO standards: the company lost nearly $200 million in FY 2019, four times what it lost the previous year. The document also contains plenty of reminders of the company's ongoing legal struggles relating to its music licensing and alleged patent infringement.
Yet, according to...
Echelon Fitness Multimedia, maker of Echelon Fit connected spin bikes and on-demand digital workouts, has received an infusion of growth capital from North Castle Partners. The companies declined to specify the size of this investment, but told MobiHealthNews that it brings Echelon’s business to a total value of $100 million.
WHAT THEY DO
On the surface, Echelon Fit — a standalone entity launched...
This morning, consumer tech retailer Best Buy announced that it has expanded its arsenal of connected fitness products for consumers.
Ranging from in-home exercise systems with live classes to smart exercise recovery devices, the new offerings are now available through the retailer’s online storefront, and will also be found in dedicated fitness spaces coming to more than 100 stores before the...
Peloton, the connected fitness company offering home exercise bikes and treadmills with built-in virtual classes, has announced its intention to IPO by filing a confidential draft statement of its S-1 to the SEC. The company is not disclosing the number of shares they plan to offer or their price range.
For those that count Peloton as a digital health company, it constitutes one of the most...
The Nike Training Club app
Since Under Armour created its Connected Fitness platform with three major fitness app acquisitions, it has thrown down the gauntlet when it comes to owning online engagement and sales. Adidas made it clear in the summer, with its $240 million acquisition of Runtastic, that it was willing to play Under Armour's game.
But what about Nike, the company that was the...
In the company’s second quarter earnings call, Under Armour CEO Kevin Plank told investors that Under Armour is the ideal company to create a connected health dashboard for consumers.
“The fact that consumers have no barometer for their health today is a mistake and frankly that’s where we see this massive opportunity and we feel we’re the best ones to take advantage of it,” Plank said. “Really...
Under Armour continues to grow its membership base for what it's calling its Connected Fitness business -- the three apps the company acquired in the past two years as well as its existing UA Record app -- even as the company explores its new acquisitions and plots a course forward, according to the company's first quarter earnings call. Under Armour bought MapMyFitness for $150 million in...
BodyMedia has raised more than $2.7 million in a recent round of funding that it hopes will soon hit $10 million, according to an SEC filing that MedCity News spotted. The company stated that the first equity sales occurred on March 13, 2012. So far the round of funding has included participation from four investors, according to the regulatory document.
BodyMedia's last round of funding,...
Fitlinxx Actiped clip-on activity monitors
Boston-based Partners HealthCare and its Center for Connected Health recently announced plans to expand its connected fitness program, Partners Step It Up, to six Boston public schools this years. The healthcare system made the announcement at a visit to one of the schools with US HHS Secretary Kathleen Sebelius. The expansion builds on a pilot launch...
