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Peloton Files For IPO With SEC

Fitness company Peloton announced Wednesday it has filed for an initial public offering with the Securities and Exchange Commission.

Peloton, which is popular for its exercise cycles, said it filed the paperwork confidentially has not yet determined on the number or price range of shares it expects to sell.

Under the Jumpstart Our Business Startups (JOBS) Act signed into law by President Obama in 2012, companies with less than $1 billion in revenues could confidentially file for an IPO.

The company makes cycles and treadmills with screens for users to join live and recorded fitness classes from their homes. The stationary bikes that features a 22-inch high definition screen carry a hefty price tag of about $2,000.

Peloton was founded in 2012. It was recently valued at $4 billion after it raised $550 million from investors including venture-capital firm TCV.

Peloton recently announced plans to launch in Germany, its third market outside the U.S., by the end of this year.

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