Peloton is acquiring more companies — recent deals include wearable devices, AI, digital voice assistants, and interactive workout mats.
In February, Peloton bought Aiqudo, a company that built an AI-powered digital voice assistant. Late last year, it bought fitness-centered smartwatch maker Atlas Wearables and interactive workout mat creator Otari. Peloton confirmed the deals have closed.
The acquisitions represent just a fraction of the deals Peloton has recently made.
- In November, Peloton acquired intellectual property from Peerfit, a digital health company.
- In December, Peloton said it would buy Precor, a fitness equipment provider, for $420 million.
- In 2019, it purchased Gossamer Engineering, a firm that helped design devices for Google and Facebook.
Peloton Chief Executive Officer John Foley recently hinted at new products in an interview with Bloomberg, and the company’s apparel business is also on the rise.
But the acquisitions are rather small for a company that some believe could unlock an $80 billion valuation. According to a regulatory filing, Peloton paid roughly $78.1 million in cash for three companies last quarter. Aiqudo is not one of those as the deal closed this year.
Peloton recorded its first ever $1 billion quarter in 2020 and said production capacity grew 700% over the last year. The company raised its full-year 2021 revenue outlook to over $4 billion last month.
