Billion-Dollar Fitness Startup Peloton Could Put SoulCycle Out of Business
Brand has just two studios, but majority of clients access it remotely.
The next spin class you take could find you cycling within the confines of your own home.
Thanks to Peloton, a fitness startup with over a $1 billion valuation—which has a growing audience base of remote gym-goers (it also has two live studios in New York City and Chicago)—the brick-and-mortar SoulCycles and Flywheels of the world could soon be pedaled out, notes Business Insider. (That $1 billion valuation comes after their latest round of financing to the tune of $325 million).
The company’s idea is pretty simple: You buy a Peloton bike for about $2,000, which gives you access to thousands of studio cycling classes that you can just complete from home at your own pace without a guy next to you huffing and puffing. And unlike the home-fitness stationary bikes of old, you have access to “live rides,” or classes taught by actual people on a screen affixed between the bike’s handle bars; or group workouts, which have a real social element to them.
As Business Insider notes, in order to access those thousands of classes, though, the company offers a subscription-based video-streaming service.
You won’t ever need to be seen in spandex in public ever again.
Learn more about the Peloton bike below.
—additional reporting by RCL’s Will Levith
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