price: Peloton raised 1.16 billion through its public offering at a valuation of around 8 billion, and sold an additional 100 million in shares at the IPO price to an investor that had previously provided venture funding, according to Market Watch. Peloton sells spinning bikes and treadmills that connect to the internet and have touch screens, along with subscription offerings that let users participate in virtual fitness classes. Peloton stock PTON, -0.55%opened at 27, 2 below its IPO price of 29, and headed lower from there to eventually close at 25.76, 11.2% lower than the IPO price. A Peloton bike starts at 2,245, while a Peloton treadmill begins at 4,295. Peloton Chief Financial Officer Jill Woodworth said that the company noticed headlines expressing concern about high-growth tech companies and profitability as Peloton embarked on its IPO roadshow, though she found that investors she spoke with understand we're both growth-focused and very disciplined. Peloton 5 things to know about the interactive exercise-machine company Though Wall Street gave a generally warm reception to newly public companies with recurring revenue streams earlier in the year, sentiment has been weaker in recent months.
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