Peloton Now Worth $32 Billion

Peloton This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Before Peloton became a household name with a cult-like following, it used Kickstarter to finance the early stages of its bike manufacturing. In less than a month, the company raised $307,332 from 297 backers. Now, the company is celebrating its first profitable quarter, with revenue jumping 172% year over year to $607 million, according to the company’s shareholder letter. Business Insider broke down why Peloton’s Kickstarter campaign worked, what opportunity the company missed, and what entrepreneurs should consider when crafting their own.