San Francisco (CNN Business)Indoor cycling startup Peloton is looking to raise approximately $1.1 billion as part of its initial public offering, according to a regulatory filing on Tuesday.
The company specializes in at-home stationary bikes and treadmills that can be used to participate in subscription-based online workout classes.It proposed to price its shares between $26 and $29 and is offering 40 million shares. It plans to list under the ticker PTON on the Nasdaq stock exchange.Peloton filed paperwork in August for an initial public offering. At that time it sought to raise $500 million but initial amounts often change based on investor demand.Fitness startup Peloton files for IPO with annual revenue of $915 millionIt generated $915 million in revenue in its most recent fiscal year, which ended June 30 — more than double what it posted the year prior. But it’s also lost a lot — $195.6 million in the most recent fiscal year, up from $47.9 million the year prior. It more than doubled its connected subscribers in a year with more than 511,000 as of June 30. Read MorePeloton’s indoor bikes start at $2,245 and its treadmill starts at $4,295. Both require memberships that cost $39 a month and give riders and runners access to on-demand and live classes.