Peloton Interactive Inc. is interviewing banks this week for roles on an initial public offering, taking a critical step toward an IPO this year, according to people familiar with the matter.
The maker of video-streaming stationary exercise bikes is expected to select its slate of underwriters in the coming weeks and will likely seek to debut in the second half of 2019, some of the people said.
Peloton’s co-founder and Chief Executive John Foley said in an interview with The Wall Street Journal last year that 2019 “makes a lot of sense” for the company’s IPO timing.
Peloton is expected to seek a valuation in excess of the $4 billion where it raised capital last year in a round led by venture-capital firm TCV, some of the people said. That valuation was a sharp jump from the $1.25 billion level at which the company raised capital in 2017.
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