Amazon may acquire fitness bike maker Peloton

San Francisco, Feb 6 (IANS) Amazon is reportedly acquiring US exercise equipment and media company Peloton to gain a foothold in the health-fitness industry.Amazon has been speaking to advisers about a potential deal, reports Wall Street Journal."There's no guarantee the e-commerce giant will follow through with an offer or that Peloton, which is working with its own advisers, would be receptive," the report said.Peloton reported a net loss of $376 million for Q1 2022, sending its stock into freefall the same day Planet Fitness reported it had exceeded expectations.The company has lost over $20 billion in value since November.However, amid heavy shipping delays, Peloton slashed the price of its original Bike and introduced two new products."By the end of the year, it spent $420 million to buy Precor, one of the world's largest commercial fitness equipment makers," reports The Verge.Amazon is also exploring launching a Peloton-like "Prime Bike".Peloton's main products are Internet-connected stationary bicycles and treadmills that enable monthly subscribers to remotely participate in classes via streaming media.Peloton charges a $39 monthly membership fee to access classes and additional features on their exercise equipment, or $12.99 for users only accessing the content via app or websiteIn January this year, Peloton paused production after greatly increased demand during early stages of the Covid pandemic had vanished.
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