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Peloton has reportedly picked banks for an IPO that could value it by more than $ 8 billion

Peloton, a retail company for digital training equipment, has signed up for banking operations for an IPO. Peloton sells exercise bikes, treadmills and digital content subscriptions. Business Insider / Mary Hanbury Goldman Sachs and JPMorgan will lead the Bloomberg IPO, which added that the deal could value the company more than $ 8 billion. Founded in 2012, Peloton sells advanced training bikes and treadmills, as well as subscriptions for content streaming on the machines and separating digital training classes. The basic Peloton bike costs $ 2,245, and a Peloton treadmill costs $ 4,295. Read more: Peloton, a fitness media company rejected over 5,000 times by investors but is now worth $ 4 billion Peloton was valued at $ 4.1 5 billion in 2018 funding round led by Technology Crossover Ventures, according to the PitchBook. It is supported by others, including Wellington Management, Fidelity Investments and Kleiner Perkins. Since it sells consumer goods, Peloton can be considered a retail company, but it is expected the price of the public markets on similar multiples to other technology companies, says a person familiar with the company. Peloton did not respond to a request for comment. Read more: A leading investor in Peloton and Equinox reveals how artificial intelligence burns a new wave of fitness trends

Peloton, a retail company for digital training equipment, has signed up for banking operations for an IPO.

Peloton sells exercise bikes, treadmills and digital content subscriptions.

Business Insider / Mary Hanbury

Goldman Sachs and JPMorgan will lead the Bloomberg IPO, which added that the deal could value the company more than $ 8 billion.

Founded in 2012, Peloton sells advanced training bikes and treadmills, as well as subscriptions for content streaming on the machines and separating digital training classes. The basic Peloton bike costs $ 2,245, and a Peloton treadmill costs $ 4,295.

Read more: Peloton, a fitness media company rejected over 5,000 times by investors but is now worth $ 4 billion

Peloton was valued at $ 4.1

5 billion in 2018 funding round led by Technology Crossover Ventures, according to the PitchBook. It is supported by others, including Wellington Management, Fidelity Investments and Kleiner Perkins.

Since it sells consumer goods, Peloton can be considered a retail company, but it is expected the price of the public markets on similar multiples to other technology companies, says a person familiar with the company.

Peloton did not respond to a request for comment.

Read more: A leading investor in Peloton and Equinox reveals how artificial intelligence burns a new wave of fitness trends

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