(KFDX/KJTL) — Indoor cycling startup “Peloton” is looking to raise about $1.1 billion as part of its initial public offering.
According to a new regulatory filing, the company will offer 40 million shares, between $26 and $29 each.
“Peloton” offers at-home subscription-based online workout classes on treadmills and stationary bikes.
The company more than doubled its revenue and subscriptions in the most recent fiscal year.
But it also racked up more than $195 million dollars in losses.
Peloton’s indoor bikes start at $2,245 and its treadmill starts at $4,295.