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Summary List PlacementIcon Health & Fitness, owner of the NordicTrack brand of exercise equipment, has asked banks to pitch for roles in an initial public offering next year, according to two sources who spoke to Business Insider.  The Peloton competitor is aiming to go public in late 2021, said the sources who asked not to be identified because they were not authorized to publicly...

Summary List PlacementPeloton will acquire Precor, a hotel and university fitness equipment maker, for $420 million. The at-home fitness firm announced the acquisition Monday, and said the deal will close in early 2021. The deal is Peloton's largest to date, according to Bloomberg. Peloton said the deal gives the company 625,000 square feet of US manufacturing space and allows it to accelerate the growth...

Summary List PlacementHi! Welcome to the Insider Advertising daily for October 6. I'm Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at ljohnson@businessinsider.com. Today's news: The executives behind the rise in ad-supported streaming video, Peloton doubles down on advertising, and Google escapes misinformation concerns. The 18 power players...

Summary List Placement Demand for Peloton has never been higher, and while this has prompted sales to soar by 172% year-over-year in the company's most recent quarter, executives say to expect order delays to continue through June 2021.  In a letter to shareholders, Peloton CEO John Foley wrote on Thursday that while the company has significantly increased production and manufacturing capabilities since the onset...

Direct-to-consumer brands have continued to reshape the business world during the coronavirus pandemic as more consumers buy all sorts of products and services online. Some DTC companies have laid off staff and restructured their business models due to declining revenue over the past several months, but others, like Peloton and Instacart, have seen revenues and share prices explode. Many of these DTC companies emphasize...

Shares of Peloton Interactive jumped as much as 9% on Friday after the company announced they had 23,000 members attend a single virtual cycling class, Bloomberg first reported. The company also said it's surpassed 2 million worldwide members. As gyms across the country are closed due to the coronavirus pandemic, Peloton is seeing a surge in business. Visit Business Insider's homepage for more stories....

The actor from the widely derided Peloton holiday advertisement gifted his actual girlfriend the $2,000-bike for Christmas. "Here's hoping this goes over better the second time.... Merry Christmas to my actual girlfriend (pls don't leave me)." The ad was briefly unnoticed on internet, until a user on Twitter commented on the ad, saying "this ad is making me lose my goddamn mind." Visit Business...

Actor Ryan Reynolds shared a cheeky advertisement for his gin label Aviation Gin, and one of the actresses may look familiar. On Friday evening, Reynolds tweeted the ad with a simple caption: "Exercise bike not included." The gin advertisement is the latest response to Peloton's much-derided holiday ad, which featured a husband giving his wife the $2,000 stationary bike for Christmas and follows her...

Peloton has priced its public offering. The maker of connected fitness equipment will go public at $29 a share. The offering will raise $1.3 billion for the company and give it a market capitalization of $8.2 billion. Peloton's stock is expected to begin trading Thursday under the ticker symbol PTON. Visit Business Insider's homepage for more stories. Fitness equipment maker Peloton found a healthy...

Peloton faces an infamous challenge for gyms and retailers: People spend more and exercise more at certain times of year. The connected-fitness startup, which published its IPO filing this week, earned 63% of its annual revenue in the six months between October and March in both of its last two fiscal years. Lumpy revenues could be a headache for Peloton, as mistakes in one...

Buzzy indoor cycling company Peloton has filed the paperwork to go public, giving the public a glimpse of how it makes money from its cycling hardware and subscriptions. The company sells connected exercise bikes and treadmills that start at $2,000, as well as membership subscriptions that give customers access to virtual fitness classes. Peloton put this subscription business front and centre of its IPO...