Founded in January 2012 by John Foley and his team, Peloton emerged from the desire to bring high-quality fitness experiences into homes. The concept arose when Foley, a former Barnes & Noble executive, recognized the challenges of attending workout classes while balancing a busy lifestyle. With an initial investment of $400,000 in seed funding, the team developed a prototype stationary bike equipped with internet connectivity and a screen for streaming live and on-demand classes.
Peloton gained traction with its successful Kickstarter campaign in 2013, raising over $300,000. By 2014, the company launched its first bike and opened a studio in Manhattan to record classes. The brand rapidly expanded, introducing a subscription model for unlimited classes and diversifying its offerings to include treadmills. Peloton went public in 2019, achieving significant growth during the COVID-19 pandemic but later faced challenges with declining stock prices and leadership changes. Today, it remains a prominent player in the at-home fitness industry.