A string of tech companies going public after confidentially filing for an IPO

High-end exercise bicycle maker Peloton has become the latest in a string of tech-related companies looking to go public after confidentially filing for an initial public offering. The purveyor of stationary bikes that boast a 22-inch high definition screen and have a price tag of about $2,000 said yesterday it had submitted a draft registration statement to the Securities and Exchange Commission… Peloton has now joined the wave of private companies rushing to the public market this year, including ride-hailing apps Lyft and Uber, scrapbooking site Pinterest and meat-substitute operation Beyond Meat… Peloton, founded in 2012, was most recently valued at $4 billion after it raised $550 million from investors including venture-capital firm TCV. Investors have backed new at-home workout concepts such as Peloton and Mirror — which sells $1,500 40 inch HD mirror-like screens — that stream workouts. Peloton, which has a cult-like following and is considered a competitor to indoor cycling studio chains SoulCycle and Flywheel, has moved beyond cycling equipment to treadmills… Alongside Peloton, investors can look forward to public forays by other companies such as messaging app Slack, which has filed for a direct listing and shared office space provider WeWork that has filed paperwork for an IPO.
 
Mamta Badkar

 

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