Rather than rubbing sweaty elbows in a cycling class at the gym, a new company is giving the fitness conscious the luxury of doing it in the privacy of their own homes.
Instead of traveling to the gym or a class, Peloton Cycle lets customers purchase stationary bikes and partake in live streaming classes from their houses. These bikes track speed and progress, and lets riders directly compete with others around the world.
With the fitness craze in full swing, the concept is one whose time has come in the eyes of investors. Peloton initially got its start on crowdfunding platform Kickstarter, and has raised more than $100 million last year from Tiger Global, True Ventures and most recently Catterton Partners.
Peloton CEO John Foley told CNBC his objective is to give back people their time as they attempt to reach their fitness goals. "For the young mother, who is 40 years old, who has a 3-year-old napping in the next room, we're allowing her to take a high energy cycling class without getting a babysitter, and without the travel time."
The stationary bike craze has exploded recently, amid what Allied Market Research noted last year is set to become a nearly $12 billion market for fitness equipment. SoulCycle, the high-end cycling boutique which offers classes starting at $34 per class, has opened 55 locations, announced plans to go public, and most recently teamed up with Target to sell branded gear.