Peloton’s connected bike business is now worth $1 billion

At-home exercise has always been a weird but lucrative market. Why do you think you’ve seen Bowflex commercials for the past three decades? And where there’s money, there are tech companies looking for their piece of the pie. Enter Peloton, a four-year-old startup that sells internet-connected stationary bikes tied to a livestreamed subscription workout experience. Peloton is now worth about $1.25 billion thanks to its latest round of funding. That makes the at-home connected-bike company the latest unicorn, or private company worth $1 billion or more. Peloton has $325 million in fresh capital from this new round, with money coming

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