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Inside the rise and fall of Peloton:
Staff describe pandemic darling's 'age of opulence' where company 'dined on seafood and sipped champagne' then went on hiring spree before empire crashed, and losses in 2022 alone reached $2.83 billion
Peloton cashed in on demand for at-home workouts during the pandemic. The company's share value increased nearly six-fold in the year after its IPO. But things began to go south as the pandemic ended and people began to return to their old gyms. After share prices peaked at $167 in December 2020, two years later they had sunk to about $13 per share, and operated at a net-loss of about $2.83billion in 2022 alone.
https://www.dailymail.co.uk/news/article-11772609/Inside-rise-fall-Peloton-Staff-pandemic-darlings-age-opulence.html
Peloton cashed in on demand for at-home workouts during the pandemic. The company's share value increased nearly six-fold in the year after its IPO. But things began to go south as the pandemic ended and people began to return to their old gyms. After share prices peaked at $167 in December 2020, two years later they had sunk to about $13 per share, and operated at a net-loss of about $2.83billion in 2022 alone.
https://www.dailymail.co.uk/news/article-11772609/Inside-rise-fall-Peloton-Staff-pandemic-darlings-age-opulence.html
Comments
The problem was always going to be costs. I can spin morning or evening every day at my local gym for no extra cost other than membership which even with a premium one is still 25% cheaper than Peleton, plus I get all the other classes, equipment and 24hr a day usage as well.
Also Zwift and Strava cover the home cycling, running genre better and cheaper.