Peloton announced Monday that it is acquiring Precor, the longtime Woodinville, Wash,-based makers of commercial fitness equipment, in a deal valued at $420 million. Peloton has been riding a wave of popularity with its home-based interactive fitness program, and with the acquisition it plans to establish U.S. manufacturing capacity, boost research and development capabilities, and accelerate Peloton’s penetration of the commercial market, according to a news release. Founded in 1980, Precor has decades of experience supplying fitness equipment to clubs, hotels, fitness centers and home exercisers. The company is a unit of Finnish sports equipment maker Amer Sports, which is… Read More
Seattle startup Katalyst has raised $5.6 million for an at-home workout experience that uses full-body electrical muscle stimulation (EMS), a training technique that’s popular in countries such as Germany, Japan and Brazil. The round was led by London-based investor Octopus Ventures, whose partner Jo Oliver sits on the startup’s board. Katalyst’s business model is similar Peloton, the maker of virtual spin classes and fancy stationary bikes that went public in September. Like Peloton, Katalyst will sell high-end hardware and a subscription to on-demand virtual workouts. But instead of guiding you on a bike ride, Katalyst will gently electrocute your muscles… Read More
One of the newest unicorns has landed in the Seattle area. Peloton, maker of the $2,000 high-tech spin bikes that is now valued at more than $1 billion, debuted a new showroom at the Bellevue Square shopping mall this past weekend. The New York-based company, which just closed a $325 million Series E funding round from investors like Kleiner Perkins and Comcast NBCUniversal, can be described as an exercise equipment manufacturer, but it is also very much a technology company. Peloton bikes come with a large built-in tablet stocked with more than 4,000 different on-demand classes and 14 daily live-streamed sessions; its home-based spin… Read More
Peloton, the freshly-minted unicorn company that makes $2,000 high-tech spin bikes, is opening up a showroom in the Seattle area. According to the company’s website, the showroom will be in the Bellevue Square Mall. Peloton is hosting a launch party for the new studio June 8. Peloton just closed a $325 million Series F funding round, at a $1.25 billion valuation, led by Wellington Management, Fidelity Investments, Kleiner Perkins and True Ventures, with participation from GGV Capital and Comcast NBCUniversal. Wall Street Journal cited Brian Smith, an analyst with Piper Jaffray, who expects the value of the health and fitness market… Read More
