Peloton Interactive (PTON) acquired Pilates-focused startup Skop as part of a broader effort to expand its fitness offerings and attract new users, Bloomberg reported.
The deal is aimed at bolstering Peloton's strength-training category, with Skop bringing technology that could help track user form during workouts, the report added.
Peloton said engagement with its existing Pilates content rose 48% year-over-year in the third quarter.
Financial terms were not disclosed, the report said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments