Peloton is releasing a cheaper treadmill. It's still $2,495
CNN
Peloton is releasing a lower-priced treadmill to become more than a purveyor of high-end stationary-bikes.
The public company, which reported revenue of more than $1 billion for the quarter ending in December, already has one treadmill on the market, called Tread+, which has earned celebrity endorsements from the likes of Miley Cyrus and Lizzo who regularly post about their Treads on social media. Peloton (PTON) is best known for its stationary bikes that cost between $1,895 and $2,495, but it's hoping to build out its brand, said Betina Evancha, Peloton's vice president of product management. "We want Peloton to be a fitness brand, a wellness brand, and so the Tread is a big part of that story."
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