糖心视频

High-end fitness startup Peloton priced at $29 per share on Wednesday, at the top of its expected price range, according to .

The company, which will begin trading on the Nasdaq under the ticker 鈥淧TON,鈥� raised $1.16 billion in its initial public offering by selling 40 million shares. Peloton expected to price its equity at between $26 and $29 per share.

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The New York-based fitness hardware company, known for its nearly $2000 stationary exercise bike and streaming workouts, confidentially filed to go public back in June. We covered its S-1 and its funding history, which you can read about here and here.

The Numbers

Peloton raised while private, with its most recent raise totalling, according to Crunchbase data. The company last had a private valuation of $4.15 billion and was backed by investors like and along its road to the public market.s.

Peloton鈥檚 reported revenue of $915 million in its fiscal 2019, up sharply from its $435 million total revenue in its fiscal 2018. That鈥檚 a gain of 110 percent. But its losses also mounted–the company reported a net loss of $195.6 million in fiscal 2019, compared to $47.9 million in fiscal 2018.

During that time frame, Peloton ramped up its spending on sales and marketing. It spent $314 million on sales and marketing in fiscal 2019, more than double the $151.4 million it spent on the line item in fiscal 2018.

The marketing efforts must have paid off, as Peloton quickly became a well-known consumer favorite, heralded for its pricey bike and home workouts.

The company鈥檚 customer base is growing, with 1.4 million Peloton members so far, per its S-1. Customers can choose from Peloton鈥檚 bike, treadmill, and fitness subscription services, and the company said in its S-1 filing that its fastest growing demographic is people under 35 years old and with household incomes under $75,000.

Check back when Peloton starts trading on the public market.

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