According to a Wall Street Journal report, Peloton is targeting “industry players and private-equity firms” to sell a stake in its business of around 15 percent to 20 percent to support its turnaround efforts.
The report indicated there’s no guarantee that such a transaction would be successful. Peloton declined to comment on the news.
The WSJ reported, “New capital could bolster Peloton as it attempts a major turnaround. It could also serve as a vote of confidence if it comes from an established private-equity firm or technology giant such as Amazon.com, which is among the suitors that have explored a full purchase of Peloton.”
Activist firm Blackwells Capital has been ramping up pressure on Peloton to sell itself, recently contending that the changes put into place so far under its new CEO, Barry McCarthy, are not enough.
