- The high-tech fitness company Peloton has unveiled a new treadmill that costs $3,995 and enables users to stream live and on-demand classes.
- Peloton says the treadmill is undergoing testing before being shipped to customers this fall.
- Business Insider had the opportunity to test the product and found it easy and fun to use.
Hot on the heels of its wildly successful exercise bike, Peloton has created a new product: the Peloton Tread.
The high-tech fitness company, which was valued at about $1.3 billion after closing a $325 million financing round last May, has a cult following of fans who are obsessed with its core product, the indoor bike. Noah Wintroub, the vice chairman of JPMorgan, has called Peloton "the Apple of fitness."
It's a buzz that even the company's CEO, John Foley, says he wasn't expecting.
"I was totally surprised by it," Foley told Business Insider in an interview at the CES tech industry trade show in January.
"When I started Peloton with my cofounders, I saw clear as day what it was going to look like and how it was going to work — the technology, the hardware, the software, the business model," he said. "I saw everything except the community. The community has blown me away."
Peloton's new $3,995 treadmill, expected to launch this fall, works similar to its indoor bike. It has an HD touchscreen that streams thousands of live and on-demand classes that users can join from home.
It costs $39 a month to stream these classes, which include high-intensity boot-camp routines, running drills, and mat work. If you already own a Peloton bike, you can stream classes for both machines for this monthly fee.
Customers also have the option to pay for the Tread in installments. For current members, it's $110 a month for 39 months, while new ones pay $149 for 39 months. You can reserve the treadmill online now with a $250 deposit.
Peloton invited Business Insider to its spacious New York headquarters to test the new treadmill. The office is a couple of blocks from its cycling studio, where customers can attend classes.
Here's our step-by-step review.
SEE ALSO: Peloton, a billion-dollar fitness startup with a cult following, just unveiled a $4,000 treadmill
When we showed up at Peloton's Chelsea office, which spans four floors, we were reminded that the company has quickly grown out of its startup phase.
It was the second time we'd come face-to-face with the Peloton Tread — the product, still in the testing phase, was experiencing a few technical difficulties earlier in the week. Still, its size is shocking. It's about 73 inches long and 33 inches wide, which made us wonder whether city dwellers would have the space to store it.
We hopped aboard the machine. There are three categories of classes: run/walk, total body, and floor, which includes yoga workouts. The Tread comes with thousands of on-demand classes, and 10 will be livestreamed from the studio each day.
See the rest of the story at Business Insider