Peloton Cycles was founded in New York, New York, in 2012 by current CEO John Foley. The company was launched using a Kickstarter campaign. The company manufactures high tech exercise bikes, operates cycling studios, and sells apparel.
The company is almost like several companies in one; high tech cycling bikes, each equipped with a 22 inch monitor and wifi, which hooks up to either live or recorded cycling classes, along with 14 locations where bikes and sporting apparel can also be purchased. The company has sold more than 30,000 bikes in more than 22 countries. Foley states that he expects to surpass $10 billion in value by 2020. Clients pay $40 a month to join live classes or access the video library, which features class leaders who have competed in Tour de France competitions.
Peloton Cycles listed annual revenue in 2018 of $150 million. Company headquarters remain in New York City, near their Brooklyn cycling studio.