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![Peloton, the fallen fitness unicorn, faces a harsh truth despite its shiny new deal with Hyatt hotels: 'I don't think they thought [about] what was going to happen post-pandemic' - Vimarsana News](https://s.yimg.com/ny/api/res/1.2/.0zglRhp1Q7AfXEwfKleng--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-/https://media.zenfs.com/en/fortune_175/659755da9a4562f313803c809aa91ed8)
Peloton has lost 90% of its value since the beginning of the pandemic, when the company soared to a $45 billion market cap.
Peloton has lost 90% of its value since the beginning of the pandemic, when the company soared to a $45 billion market cap.
Peloton’s Q2 2024 earnings were mixed — some things flopped, other things seem to be buoying the business. Like relaunching the Tread Plus for $6,000. CEO Barry McCarthy told investors on the earnings call that since it started taking orders in December, there’s actually a demand backlog. McCarthy also said increased interest led to more sales of its cheaper, entry-level Tread. That, I get. (I reviewed it, it’s great.) But I’m fascinated by the folks who didn’t blink at plopping down $6K for the Plus despite the infamy associated with it. Is that you? Hit me up, let’s chat. I’m...
The Community Foundation of Macon County Wish List has helped with another $30,000 in granted wishes.
New quarter, same story. Peloton shares are falling after today’s earnings release in which the company said it was struggling to convert free users of its app to paid subscriptions. It pointed to recent partnerships, like the one with Lululemon, as an area of growth, along with hardware rentals. But once again, subscriber churn was higher than expected — a not-so-encouraging trend for a company known for its loyal fanbase. It also confirmed that the Tread Plus will be relaunching at $5,995. That’s business, baby.