Daily Crunch: Peloton finances revealed
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1. Peloton files publicly for IPO
Peloton previously filed a confidential S-1, but now its IPO documents have been revealed publicly, showing that the fitness tech company brought in $915 million in revenue during its most recent fiscal year, with losses of $245.7 million.
Co-founder and CEO John Foley laid out a grand vision in the documents, writing that “Peloton is so much more than a Bike — we believe we have the opportunity to create one of the most innovative global technology platforms of our time.”
2. Anthony Levandowski, former Google engineer at center of Waymo-Uber case, charged with stealing trade secrets
If convicted, Levandowski faces a maximum sentence of 10 years and a fine of $250,000 — plus restitution — for each violation, according to the U.S. Attorney’s office.
3. Fitbit’s CEO discusses the company’s subscription future
At a small event in Manhattan this week, Fitbit laid out its future for the press. Tellingly, the event was far more focused on the company’s software play. (Extra Crunch membership required.)
Image via Getty Images /franckreporter
4. US border officials are increasingly denying entry to travelers over others’ social media
The latest case saw a Palestinian national living in Lebanon and would-be Harvard freshman denied entry to the U.S. just before the start of the school year.
5. ThoughtSpot hauls in $248M Series E on $1.95B valuation
ThoughtSpot was started by a bunch of ex-Googlers looking to bring the power of search to data. Seven years later the company is growing fast, sporting a valuation of almost $2 billion and looking ahead to a possible IPO.
6. Google will shut down Google Hire in 2020
Google built Hire in an effort to simplify the hiring process, with a workflow that integrated into Google’s G Suite things like searching for applicants, scheduling interviews and providing feedback about potential hires.
7. Rwanda to phase out gas motorcycle taxis for e-motos
The government of Rwanda will soon issue national policy guidelines to eliminate gas motorcycles in its taxi sector in favor of e-motos.