Why Amazon, Nike and Google want bicycle company Peloton

Peloton is in heavy weather and Amazon, Nike and Google see that in various ways.

The corona pandemic resulted in many losers, but also a lot of winners in the business world. For a long time Peloton was one of them. The tech company makes home sports equipment such as the well-known bicycle and treadmills with a high-tech approach; products that were hugely popular when everyone had to sit at home for two years. Now the company is heading for the abyss, but luckily there are Amazon, Nike and Google.

Peloton in the pit

At the height of Peloton’s rule, the company was worth a whopping $50 billion. The demand for exercise bikes was huge and the brand was extremely popular because of its relatively luxurious appearance and modern gadgets such as displays and sensors.

But due to quarrels within the management, the house of cards collapsed a year later. The value of Peloton fell from 50 billion to roughly 8 billion, a huge loss within one year.

bargain hunters

Now, according to the Financial Times (paywall, via Engadget), there are several companies that have come through the pandemic very successfully. While no one has officially confirmed it sees anything in Peloton yet, several anonymous sources say so.

More specifically, Amazon and Nike would both want to buy the company. Amazon has a knack for making successful products itself. Nike works more often with other partners.

Google has slightly different plans with Peloton. The search giant would like to turn Stadia into a new service called Stream. Google would like to stream games via the new concept for Platoon, without a direct takeover.