Peloton

The World's Most Innovative Companies 2018

Peloton isn't your ordinary spin studio. The tech-friendly business offers a highly rated app to stream live classes and energizing music to thousands of people across 14 countries. The app can send content to iPhones, iPads, and even the Apple TV, so anyone can use it to get a workout in their living room. The only downside is that users still need to own an indoor bike or road bike to use the new app, and those devices can cost several thousand dollars, depending on the make and model. Peloton sells its own high-end bikes alongside its monthly subscription to the video classes. In 2015, the company raised $75 million in funding, which it will use to expand its global community of fitness lovers. 2017 saw explosive growth--subscribers tripled, to 600,000--as Peloton introduced commercial-grade bikes for corporate gyms, country clubs, and hotels, and grew its retail presence with 12 new showrooms, to a total of 29. It also created a new financing option for its $2,000 bikes--starting at $97 a month, including subscription--and launched an ad campaign targeting consumers on a budget. The company also announced plans to redefine another fitness experience with its entry into the much larger treadmill market. Its machine features a 36-inch screen to stream content from elite instructors who will also incorporate off-machine exercises like burpees and push-ups.