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Peloton is the brand most people associate with connected in-home fitness, but that isn’t stopping competitors from attempting to make a name for themselves.
Over at Fortune, they are looking the growing market place of the competitors who are raising money to further compete with Peloton.
Tempo, an at-home weights training startup backed by Founders Fund, DCM, and Khosla Ventures, is raising some $60 million in funding valuing the company at roughly $200 million to $300 million, sources tell Term Sheet. The deal, said to be led by two investors, however, has yet to close.
It’s issued lawsuits against what it considers biking copycats from Echelon and Flywheel. One source tells Term Sheet that Peloton approached Tempo in recent months, voicing interest in acquiring the company. Tempo, though, the source said, was not interested in selling. But the workout world has seen fads come and go (where were HIIT classes 10 years ago?)—so is an acquisition next somewhere?
I am not surprised that Peloton is looking to make acquisitions in the connected fitness market. Their digital app is their loss leader. The bike and treadmills are their trojan horse into your home. From here, they will begin to expand into other markets. I’ve been pondering what connected dumbells might look like in relation to Peloton’s digital classes, and I think there are strings worth pulling. They ultimately want to be an end to end solution for fitness, and more specifically: connected fitness.