New York-based Peloton announced the launch of Peloton for Business, its new B2B offering that will supply equipment and content to clients in the sectors of corporate wellness, multifamily residential businesses, hospitality, community wellness, healthcare, education and gyms.
The company will offer access to its Peloton Bike for use by an unlimited number of users, partnership services that...
After raising $65 million in a Series C round approximately one month ago, Redesign Health, a company that builds, launches and finds funding for other healthcare startups, is laying off 67 employees, or roughly 20% of its workforce.
Redesign Health forwarded MobiHealthNews CEO Brett Shaheen's email that he sent to the employees.
In his correspondence, Shaheen said the company "made the decision...
Peloton has laid off another 500 workers, the latest in a string of job cuts as the connected fitness company executes a major financial turnaround plan.
First reported by The Wall Street Journal, the latest layoffs make up 12% of Peloton's remaining workforce. According to the WSJ, CEO Barry McCarthy, who took on the chief executive role in February, said he was giving Peloton another six months...
Peloton will stop manufacturing its own connected bikes and treadmills, instead outsourcing production to Taiwanese company Rexon Industrial Corp.
The tech-enabled fitness giant, which has struggled financially after a boom during the height of the COVID-19 pandemic, said the move will allow them to simplify its supply chain operations and focus on its technology and content.
Additionally,...
Embattled connected fitness company Peloton will replace its CEO and cut around 2,800 jobs, around 20% of its corporate workforce.
The news comes as rumors swirled last week that both Amazon and Nike may be interested in acquiring Peloton. The Wall Street Journal, which also revealed Amazon's potential interest in a deal, first reported the company's restructuring news.
"I recently shared that...
Peloton has faced plenty of scrutiny over the past few weeks, including an activist investor calling on the connected fitness company's board to fire its CEO and consider a sale. Now rumors are flying about potential buyers who may be interested in a deal.
On Friday, The Wall Street Journal reported tech giant Amazon "has been speaking to advisers about a potential deal," though there aren't any...
Peloton released a new Bluetooth heart rate monitor that's worn around the forearm and designed to be used with the company's suite of connected fitness equipment.
The arm band, which retails for $90, uses optical sensors to detect heart rate and features five LED lights to show heart rate zone, Bluetooth connectivity status and battery charge.
The company also offers a chest-worn heart rate...
An activist investor is urging Peloton's board of directors to fire its CEO and put the connected fitness company up for sale.
Blackwells Capital, which has a stake of less than 5% in Peloton, offered in an open letter a list of CEO John Foley's "repeated failures," including wavering in pricing strategy, changing the product road map and not initially working with the Consumer Product Safety...
Peloton has put the brakes on bike and treadmill production for the next two months after a sharp decrease in demand, CNBC reports. This news sent the fitness company's stock in a downward spiral yesterday, the price falling by roughly 25% from opening to close.
Following the CNBC article, Peloton CEO John Foley released a public letter to the "Peloton Team" alleging that the information in the...
Connected fitness company Peloton is stepping outside treadmills and bikes with its new strength training product, the Peloton Guide.
The Guide is a camera that can be connected to a user’s TV so they can perform directed weight lifting workouts with their own equipment. Peloton said it uses machine learning to track movement, and a self mode allows members to view themselves and compare their...
