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.
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.