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Report: Peloton has picked its IPO banks

Report: Peloton has picked its IPO banks
[Photo: courtesy of Peloton]

Peloton has big plans for 2019–namely, it’s said to be going public. Now, Bloomberg reports that the home fitness company has chosen both Goldman Sachs and JPMorgan Chase as the banks to lead its IPO. The report adds that Peloton could end up going public with a valuation of as much as $8 billion.

The company has been taking the indoor fitness world by storm. Data from late last year indicated that it had more customers in Q4 than its competitor SoulCycle. If this trend keeps up, Peloton is certainly going to have an IPO to watch out for.

The timing of the IPO remains unclear. Last August, Peloton raised a $550 million round of funding. I reached out to the company and it declined to comment.

You can read the full Bloomberg report here.

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