Jan 10, 2020

Equinox in talks for investment from Silver Lake to better compete with Peloton

Photo: Smith Collection/Gado/Getty Images

Equinox, the upscale fitness club operator and majority owner of SoulCycle, is in "advanced discussions" for an investment from Silver Lake, per Bloomberg. Proceeds would be used to help Equinox expand a digital and at-home hardware platform it launched last summer to compete with Peloton.

Why it matters: This would seem to be something of a philosophical change for Equinox, whose executive chairman Harvey Spevak told me on stage in early 2018 that while he admired what Peloton had done, "SoulCycle is a cardio party... there's no replacement for community and experience, and you can't get that at home no matter how great the execution is."

  • When I emailed him this morning, Spevak wrote back: "Just remember don’t believe everything you read:)"

The bottom line: "The New York-based company is searching for new investors after some members boycotted its brands in response to a decision by part-owner Stephen Ross, the billionaire founder of Related Cos., to host a fundraiser for President Donald Trump’s re-election campaign. Spevak... told members that Ross had no role in running the company and touted its donations to causes promoting diversity and inclusivity," Bloomberg writes.

Go deeper: Fitness streaming company iFit raises $200 million

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Peloton goes to court over "connected fitness"

Photo: Scott Heins/Getty Images.

Peloton is going to court to try to protect its head start in “connected fitness" as challengers move in, the Wall Street Journal reports.

Why it matters: "It’s a premise that has powered many upstarts in recent years: Uber is a tech company, not a taxi company; WeWork's a tech company, not a real-estate company; Tesla’s a tech company, not a car company," the Journal notes.

Go deeperArrowJan 20, 2020

Trump-Bloomberg feuding reaches new levels

Mike Bloomberg addresses local leaders in Oakland, California, as part of his focus on states with large numbers of delegates, Jan. 17. Photo: Ray Chavez/Bay Area News Group.

Maybe it was the eye-popping FEC data about Mike Bloomberg's Q4 spending. Or a rivalry over their Super Bowl ads. Or a change to Democrats' rules that may soon allow Bloomberg to participate in the primary debates.

In any case, President Trump raged overnight on Twitter, primarily going after the height of the 5-foot-8 billionaire who's running as a Democrat. And Bloomberg's campaign shot back, hitting Trump for his weight and hue.

Mike Bloomberg copies Trump to beat Trump

Photo: Timothy A. Clary/AFP via Getty Images

To beat President Trump, Mike Bloomberg wants to be candidate Trump.

The state of play: Axios visited Bloomberg's new campaign HQ in Times Square yesterday, and we were struck by how much his 1,000+-person team is learning from — while trying to surpass — the Trump campaigns of 2016 and 2020.

Go deeperArrowUpdated Jan 23, 2020