Peloton's founder once said the company 'sells happiness' before a disappointing initial public offering

More than 400 investors turned Peloton down in its initial funding rounds

Peloton founder John Foley said investors rejected the company's initial funding requests because there was no clear indication of what the market for at-home fitness classes looked like. Ultimately, more than 200 angel investors gave the company its first round of cash. (Some users may experience a paywall.)

Raising the price of a Peloton bike increased the company's early sales—and that's part of why the bikes are so expensive

The original Peloton stationary bikes sold for about $1.2K, but Peloton founder John Foley said that price point made consumers skeptical of the product's quality. After increasing the price of a bike to $2K, Foley said people started to believe it was a quality product, and sales soon increased.

The fitness industry has seen a lot of fads—and Peloton might be one of them

Like SoulCycle and Tae Bo, Peloton has struggled to stay at the forefront of the fitness industry. Despite periods of incredibly high interest and high-profile users (like the Obamas), Peloton has lost many users since the pandemic ended—and has struggled to add more. (Some users may experience a paywall.)

Peloton's success is partly due to users' relationships with instructors

Despite Peloton's online model, most users feel a deep connection with the instructors and have created community groups around their shared identities (like being a mom or a lawyer). The relationship users have with their instructors has fueled consistent engagement and paved the way for instructors to take on personal brand deals. (Some users may experience a paywall.)

Peloton raised more than $300K in 30 days during its Kickstarter campaign

Peloton ran a Kickstarter campaign in 2013, hoping to raise $250K and ended the campaign with $307K. Peloton sold its first bikes during that campaign for $1.5K. Foley later said that most of the bike purchases came from investors, not necessarily new customers.

The controversial 'Peloton Wife' ad from 2019 cost the company more than $1B in market value

The 2019 ad of a man gifting his wife a Peloton exercise bike sparked a wave of controversy, with some calling the ad sexist and fatphobic. The ad's backlash decreased the company's market value by $1.6B.

Owning a Peloton has become a status symbol

Given the relatively high financial barriers to entry—with its cheapest bikes selling on its website for almost $2K—owning a Peloton has become a status symbol for some, representing the disparity between access to fitness between the upper and lower classes in the US (especially during COVID).

The COVID-19 pandemic both boosted Peloton's business and shook it up completely

While demand for Peloton's at-home fitness equipment soared during the pandemic, the company didn't necessarily have the infrastructure to support the breakthrough sales. In 2021, Peloton bought Precor—a fitness equipment manufacturing company—to help boost domestic production and decrease a backlog of orders.

Peloton makes most of its money via monthly subscriptions

Peloton has two core revenue streams: the exercise equipment it sells and the company's monthly subscription that gives users access to its class library. More than half of Peloton's revenue comes from the company's core product, the monthly subscription. Its "Peloton App+" membership tier is $28.99 per month.

John Foley was the president of e-commerce at Barnes & Noble before founding Peloton

Foley worked for Barnes & Noble during the company's race against Amazon to dominate the e-reader market (Barnes & Noble had the Nook and Amazon had the Kindle). Foley says his time working for Barnes & Noble helped him learn the business of digital media, which is a core element of Peloton's business.

Peloton paid a $19M fine for its handling of treadmill injuries

In 2021, a six-year-old died after getting caught underneath a Peloton treadmill. A federal investigation into the company revealed that Peloton knew about injuries on the treadmill as early as 2018 and failed to report the incidents to the US Consumer Product Safety Commission.

The word 'Peloton' comes from the word for the main group of riders in a cycling race

The word itself is French for "ball," but became the inspiration for the word "platoon" in the 17th century to describe a group of soldiers. Now, it's a common cycling term and the main focal point in cycling races.

Just because a big name company is going public doesn’t guarantee a successful stock

A reporter dove into how highly anticipated IPOs can still be risky, and why retail investors should be wary of investing right away.

Listen to a 2026 interview where Bumble's CEO said its stock is down 96% since its IPO 'for no reason'

CEO and Founder Whitney Wolfe Herd said the company is still performing very well. She added that the business makes $1B per year and referred to it as profitable. She went on to say "who knows what people trade stock on?" and that she believes the stock market has written Bumble off as if it were debt

2023's worst performing US IPOs

While an IPO is a huge milestone, it isn't always a total success in the long-term. This data visualization shows some of the worst-performing IPOs of 2023, based on their percentage returns at the end of the year, It includes an NFT gaming company and a Chinese EV battery company.

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

Initial public offering (IPO) is the term for when a company goes public

When a company completes its IPO, it's no longer a privately owned organization. Anyone can invest in the company by buying its shares on the stock market—opening up ownership of the business to the general public.

Read about how one of Palantir's cofounders explains the company's founding

Palantir cofounder Joe Lonsdale described the company's driving principle as fighting terrorism in a blog post marking its IPO. Lonsdale also said Palantir's software was developed with a keen focus on privacy, despite many allegations that it enables government surveillance.

Spotify took 18 years to reach profitability; 70% of revenue goes to rights-holders

The music streaming company lost revenue for years as it sought to grow, but once it went public, investors pushed the company to expand into podcasts, cut costs, and prefer passive mood listening via algorithmic curation to increase value. Users have mixed feelings about using it.

Robinhood's pivot from everyday investors to hyperactive traders

The platform was conceived as a hub for first-time investors looking to get into trading. After criticism in 2021, the company pivoted to focus on more regular, daily traders, among whom the company's CEO has now become a cult hero.

SpaceX's S-1 or 'prospectus' revealed many previously unknown details about the company

Those revelations include the company's unprofitability despite doing $18.7B in revenue in 2025, exactly how many voting shares Elon Musk will have in the company (roughly 85%), and more.

The story of Klarna's IPO

BNPY company Klarna went public on the NYSE in September 2025, roughly 20 years after it was founded. At the time, Klarna made roughly three-quarters of its revenue via merchant fees, charging a small premium for each purchase.

SpaceX's S-1 or 'prospectus' revealed many previously unknown details about the company, including its unprofitability despite doing $18.7B in revenue in 2025, exactly how many voting shares Elon Musk will have in the company (roughly 85%), and more.

How one supplement company cost a short seller $1B

Pershing Square, a hedge fund founded and run by Bill Ackman, put short positions on Herbalife in 2012, because it believed the company was a pyramid scheme. Ackman's longtime rival and legendary investor Carl Icahn began buying Herbalife shares, causing the stock price to rise—ultimately hurting Pershing Square's short position.

Pets.com is one of the most emblematic dot-com companies

Pets.com—an e-commerce pet store webpage—is a prime example of dot-com companies burning through investments. Despite being a popular and well-known brand, the company struggled to generate enough revenue to become profitable. After raising approximately $82.5M in its February 2000 initial public offering, Pets.com filed for bankruptcy in November of that same year.

Should companies be owned by their workers?

In the last half-century, so-called private equity has transformed industries by purchasing private companies, cutting costs, loading up debt, and then selling the business at a premium—all at a huge profit to the investors. Workers, on the other hand, are often left with nothing. Listen to how both pro-worker economists and a private equity stalwart are trying to shift ownership to workers—a growing tactic proven to improve worker satisfaction and company value.

Tesla open-sourced all its patents to speed up industry adoption of electric vehicles

The company employed a disruptive strategy to transform the transportation market, but early struggles, including leadership shifts and near bankruptcy in 2008, threatened its efforts to bring electric vehicles to the mainstream.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

SpongeBob exemplifies Aristotle's philosophy for living well because he understands that happiness doesn't come from external factors like money, recognition, or power.

Explore an interactive map built from more than 100,000 survey responses on where people find joy in their lives

The 1987 Nintendo video game 'Stadium Events' isn't known for being particularly fun, but its scarcity has made it a highly sought-after item that has sold for up to $35K at auction.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

Hear about the 250-year history of the United States Postal Service, complete with some of its strangest deliveries, important innovations, and the figures that made it an American institution.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

A pickleball's loud 'pop' sound can reach 120 decibels, which is equivalent to a hammer hitting a nail

American short story writer Flannery O'Connor raised 40 peacocks, which became potent symbols for her fiction's elegant violence

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

Read a deep dive on the 'all-purpose healing' peptide BPC-157.

In 2009, the nation was gripped by the story of a missing young boy who was believed to be floating over Colorado in a homemade balloon, until it was revealed that he was at home the whole time.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Brandi Chastain, the star of the 1999 US victory over China in the 1999 Women's World Cup, was a last-second choice to take the penalty kick that sealed the victory.

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

According to the physics of black holes, our 4D reality may be a hologram—a projection of information coded on a 2D surface on the edge of the universe.