Photo: Peloton

Peloton, the New York-based company best known for its stationary exercise bike and accompanying exercise videos, has filed to go public on the Nasdaq stock exchange under the symbol "PTON."

Why it matters: Peloton is both a hardware and software subscription company (and a content streamer), whose CEO boldly compares it to Apple.

By the numbers:

  • The company generated revenue of $218.6 million, $435 million and $915 million for fiscal years 2017, 2018 and 2019, respectively.
  • But it also incurred net losses of $71.1 million, $47.9 million and $195.6 million for those same years, respectively.
  • Again, for those same years, its subscriber count was 107,708, 245,667 and 511,202, respectively.
  • Its average net monthly churn, a key metric for a company touting itself as a subscription business, was 0.70%, 0.64%, and 0.65%, respectively.

Go deeper: What to make of Peloton's confidential IPO filing

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Trump claims TikTok will be banned if not sold by Sept. 15

President Trump said Monday that TikTok will be shut down in the U.S. if it hasn't been bought by Microsoft or another company by Sept. 15.

Why it matters: Trump appears to have backed off his threat to immediately ban TikTok after speaking with Microsoft CEO Satya Nadella, who said Sunday that the company will pursue discussions with TikTok’s Chinese parent company ByteDance to purchase the app in the U.S.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 18,147,574 — Total deaths: 690,573 — Total recoveries — 10,753,815Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 4,687,828 — Total deaths: 155,062 — Total recoveries: 1,468,689 — Total tests: 56,812,162Map.
  3. Politics: White House will require staff to undergo randomized coronavirus testing — Pelosi says Birx "enabled" Trump on misinformation.
  4. Business: Virtual school is another setback for retail — The pandemic hasn't hampered health care.
  5. Public health: Former FDA chief says MLB outbreaks should be warning sign for schools.

Filing suggests Manhattan DA is investigating Trump for possible fraud

Photo: Brendan Smialowski/AFP

The Manhattan District Attorney's office suggested for the first time Monday that it's investigating President Trump and his company for "alleged bank and insurance fraud," the New York Times first reported.

The state of play: The disclosure was made in a filing in federal court that seeks to force accounting firm Mazars USA to comply with a subpoena for eight years of Trump's personal and corporate tax returns.