In a shareholder letter released Thursday, Peloton outlined its ongoing strategy to regain its financial footing. It highlights the implementation of a new one-time “used equipment fee” of $ 95 USD / $ 126 CAD. The move is an effort to squeeze additional revenue from second-hand products, over concerns that cheaper, slightly used bikes, treadmills […]
Trade My Spin is building a business around used Peloton equipment
Peloton had one of the most turbulent half decades in tech. The home fitness firm experienced some of the industry’s highest highs and lowest lows in dizzying succession. It’s the story of buzzy startup that became the target of a cult-like following among influencers and fitness fanatics. A global pandemic shot the brand to unknown […]
Startups Weekly: Trouble in EV land and Peloton is circling the drain
Welcome to Startups Weekly — Haje‘s weekly recap of everything you can’t miss from the world of startups. Sign up here to get it in your inbox every Friday. Look, I know this is our startups weekly newsletter, and as the most valuable company in the world, Apple is kind of the ultimate “not a […]
Peloton announces 400 layoffs, 15% of the workforce, as CEO Barry McCarthy departs
Peloton, the exercise equipment maker and creator of online fitness classes, has announced that it’s laying off 15 percent of its workforce — 400 people — as CEO, president, and board director Barry McCarthy steps down after two years in the role. McCarthy, who was previously CFO at Spotify and Netflix, was coerced out of […]