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☆ Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company
  + stars: | 2023-09-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +1 min
Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company and will be replaced by longtime Silicon Valley veteran Nick Caldwell, the company announced Tuesday. Cortese, who helped found the connected fitness company alongside former CEO John Foley in 2012, will move into an advisory role beginning Nov. 1, the company said. He'll oversee global product development and will start the new role Nov. 1. "I want to thank Tom for his tireless dedication since launching Peloton nearly 12 years ago as a Co-Founder of the business. "Nick brings impressive engineering, design, and product experience to the Peloton team.
Persons: Tom Cortese, Nick Caldwell, Cortese, John Foley, " Cortese, I'm, Caldwell, He'll, Tom, Barry McCarthy, Nick Organizations: Silicon, Twitter, Google, Microsoft
☆ Peloton aims to rebrand as a fitness company for all with focus on app, tiered subscription pricing
  + stars: | 2023-05-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +7 min
The ad solidified Peloton's nascent identity as a high-end bike company reserved for a certain type of person at a certain income level. "This company historically has been thought of as an in-home bike company for fitness enthusiasts but over the years, it has evolved into something that is much more bigger, much broader than that." The relaunch includes a "Gym" function that allows users to take Peloton's app into the gym with them and create custom workouts. 2 among those who have Peloton hardware. It shows how eager users are to consume Peloton content that has nothing to do with its equipment.
☆ Peloton co-founder John Foley launches business selling custom rugs directly to consumers
  + stars: | 2022-11-07 | by ( Sarah Belle Lin | ) www.businessinsider.com   time to read: +3 min
Peloton co-founders are starting Ernesta, a direct-to-consumer business selling custom rugs. The business is launching in spring 2023 and entering a global market anticipated to reach $130 billion by 2030. The company will be entering a global carpets and rugs market anticipated to reach $130 billion by 2030. Foley is Ernesta's CEO, with fellow Peloton founders Hisao Kushi serving as chief legal officer and Yony Feng as chief technology officer. He relinquished his executive chairman title in September, following months of controversy and reduced global demand at the beleaguered company.
☆ How Peloton went from a pandemic-era success story worth $50 billion to laying off more than 4,000 workers and losing 3 top execs in a month
  + stars: | 2022-09-26 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +14 min
Peloton's stock has been trading well below the IPO price of $29 per share, at one point dropping as low as $8.22. Prior to founding Peloton, Foley was president at Barnes & Noble, overseeing its e-commerce business. "I would say that it took about five years for the really smart money to start getting involved," Foley told Insider in 2018. The ad, featuring a woman whose husband gifts her a Peloton bike for Christmas, was viewed as being sexist and playing into outdated standards of beauty. Public outrage over the ad sent Peloton's stock plunging 9%, wiping out $942 million in market value in a single day.
☆ How Peloton went from a pandemic-era success story worth $50 billion to laying off more than 4,000 workers and losing 4 top execs in a month
  + stars: | 2022-09-26 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +14 min
Peloton's stock has been trading well below the IPO price of $29 per share, at one point dropping as low as $8.22. Prior to founding Peloton, Foley was president at Barnes & Noble, overseeing its e-commerce business. "I would say that it took about five years for the really smart money to start getting involved," Foley told Insider in 2018. The ad, featuring a woman whose husband gifts her a Peloton bike for Christmas, was viewed as being sexist and playing into outdated standards of beauty. Public outrage over the ad sent Peloton's stock plunging 9%, wiping out $942 million in market value in a single day.
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