Photo via screengrab YouTube / RoadTrailRun

Fitness startup Peloton, known for its in-home, internet-connected spin bikes, unveiled its second product at CES 2018, reports the New York Times — a treadmill that costs nearly $4,000.

Why it matters: The premium cost of the treadmill reveals an interesting insight about branding in a hardware-heavy industry. Peloton has spent tens of millions of dollars creating a full-service experience for its users, complete with live fitness classes and celebrity brand ambassadors.

While others have struggled to reinvent home fitness machines, the interactive and communal nature of the Peloton experience brought the company $400 million in sales last year, up from $170 million in 2016.

The Peloton Tread "content" plan will largely be reminiscent of Barry's Bootcamp, Peloton CEO John Foley told Axios. Bike owners who already subscribe will not need to pay an additional fee to access Peloton content on the treadmill.

Go deeper: Peloton CEO John Foley on bikes, revenue and recessions

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
Updated 2 hours ago - Politics & Policy

Biden has huge cash advantage over Trump as Election Day nears

Democratic presidential nominee Joe Biden in Wilmington, Delaware, on Monday. Photo: Drew Angerer/Getty Images

Democratic presidential nominee Joe Biden had $177.3 million in the bank at the end of September, per the latest Federal Election Commission filings.

Why it matters: President Trump's re-election campaign reported having $63.1 million in the bank at the end of last month, as campaigning enters the final stretch ahead of Election Day on Nov. 3.

Court allows North Carolina mail-in ballots deadline extension

An absentee ballot election worker stuffs ballot applications at the Mecklenburg County Board of Elections office in Charlotte, North Carolina, in September. Photo: Logan Cyrus/AFP via Getty Images

North Carolina can accept absentee ballots that are postmarked Nov. 3, Election Day, until Nov. 12, a federal appeals court decided Tuesday in a 12-3 majority ruling.

Why it matters: The 4th Circuit Court of Appeals' ruling against state and national Republican leaders settles a lawsuit brought by a group representing retirees, and it could see scores of additional votes counted in the key battleground state.