the staff of the Ridgewood blog
Ridgewood NJ, Peloton’s John Foley will be stepping down as CEO. Former Spotify CFO Barry McCarthy will take over the role. Foley will remain on as Executive Chair. Peloton is cutting 2,800 jobs globally, around 20% of its corporate workforce. The company invested heavily in production in 2021 but saw a decrease in demand this year. It has now halted all production of its treadmill and bike products.
Peloton Interactive Inc. the early pandemic home-fitness darling has become a potential takeover target . One key consideration is regulatory scrutiny. There’s a chill against large transactions at the moment in Washington, where technology companies are being investigated by regulators for their reach and influence and the Federal Trade Commission recently sued to block an acquisition by Nvidia Corp.
“The deal better be worth the headache for the company because they’re going to be scrutinized on whatever they buy,” Anurag Rana, a senior analyst at Bloomberg Intelligence, said in an interview Sunday.
Peloton is evaluating interest from potential suitors and is working with an advisor to explore options, according to people familiar with the matter who asked not to be identified because discussions are private. The takeover interest in the New York maker of exercise bikes and treadmills is exploratory and may not lead to a transaction, they said.
The companies said to be taking a look at Peloton include some of the biggest names in technology and fitness. Amazon.com Inc. has spoken with advisors about a potential deal, the Wall Street Journal reported Friday. Analysts have also speculated that Apple Inc. could be a potential buyer. Nike Inc. is also considering a bid for Peloton, according to the Financial Times.
Overpriced…needs to become affordable again.
Bad move by Amazon.
You mean a company that was selling an overpriced bike with an “app for that” is not profitable once the Wall Street funny money stopped flowing? I am shocked, shocked i tell ya!
as long as they keep Jess King, Hannah and the other hardworking hotties – I am good. Feel free to fire Cody and rest of the silly male instructors. No value.
It is overpriced ridiculous. That was good for Covid , it’s done. Now people going outside walking the weather is breaking