Peloton’s $8 Billion IPO Would Have To Double In Debut To Make Cofounder John Foley A Billionaire

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Fitness technology company Peloton could double its valuation if its IPO goes well, but its cofounder and CEO John Foley won’t be joining the billionaire ranks just yet unless the company manages to more than double its value again. On Tuesday, the company set its IPO price range between $26 to $29 for shares that will trade under PTON on the Nasdaq,. Peloton plans to sell up to 46 million shares in the public offering, generating as much as $1.3 billion if it prices at the upper end of the price range. That price would give Peloton about a $8 billion valuation. It had previously been valued at $4 billion by private investors.

Unlike other consumer tech IPOs, Peloton’s founding team will not become billionaires unless the company moves its pricing range higher or the stock pops at the start of trading – not out of the question after enterprise communications companyin their debut. However, consumer tech IPOs have been faring worse. Ride-hailing companies Uber and Lyft have lost tens of billions in combined market value, and luxury reseller The RealReal remains below its opening price.

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Peloton fitness startup seeks to raise over $1 billionIndoor cycling startup Peloton is looking to raise approximately $1.1 billion as part of its initial public offering, according to a regulatory filing on Tuesday. I can't hate the word 'startup' enough. From whom? MEem?
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