see all jobs
Peloton's IPO doesn't go to plan – but company still valued at US$7.2bn
Shares in Peloton have fallen 14 per cent below their initial value since the company listed on the US-based NASDAQ on 26 September.
The indoor cycling giant offered 40m shares to the open market at US$29 each – but the value of the shares has since plummeted to US$25.10.
Doing so, Peloton became the latest in a long list of tech-oriented start-ups to have experienced a lack-lustre IPO – such as peer-to-peer ridesharing firms Uber and Lyft.
According to data from Bloomberg, Peloton's IPO marks the third-worst trading debut in 10 years in the US for companies that have raised at least US$1bn.
The company is still, however, valued at US$7.2bn.
Peloton was founded in 2012 by John Foley, Tom Cortese, Hisao Kushi, Yony Feng and Graham Stanton.
More News
The owner of one of Australia's best-known waterparks has acquired a major competitor, creating a new attractions business spanning two of the country's ... More
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers
