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Peloton Is Ready To Row

  • Peloton has officially teased its new rowing machine, adding to its lineup of bikes and treadmills.
  • Peloton is dipping its toe into a space that could boast major financial potential.
Peloton
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Peloton has officially teased its new rowing machine, adding to its lineup of bikes and treadmills.

The announcement comes one week after the fitness company released third-quarter earnings, reporting $964.3 million in revenue but missing analysts’ estimates of $972.9 million.

Official details of the launch weren’t disclosed, only that the machine is “coming soon.” 

Reports of a Peloton rowing machine have been surfacing since 2018.

Peloton has been trying to turn its business around since CEO Barry McCarthy took over in February.

  • Earlier this month, the company signed an agreement with JPMorgan and Goldman Sachs — the companies that led Peloton’s IPO — to borrow $750 million in long-term debt.
  • Peloton announced in April it would be raising its subscription prices in the U.S. and Canada while lowering its hardware prices.
  • McCarthy also said during the company’s earnings call that third-party retailers would likely be in the mix soon.

New Fitness Trend?

With the details of its new rowing machine, Peloton is dipping its toes into a space that could boast major financial potential.

Peloton joins Hydrow, for example, in the connected rowing space. In March, Hydrow raised $55 million in a Series D funding round led by Constitution Capital. The company now has more than $255 million in total funding.

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