Image: Peloton

Peloton, the fitness tech company known for its connected spin bikes, raised around $400 million in Series F funding at around a $4 billion valuation, plus another $150 million in secondary funding.

Why it matters: This is arguably the venture world's highest-valued media startup, as the bikes (and, now, treadmills) are really delivery devices for low-churn subscription content.

Investors: TCV led, with partner Jay Hoag joining the Peloton board (he's also a longtime Netflix director). Other new investors Felix Capital, Winslow Capital and Baillie Gifford were joined by return backers Tiger Global, True Ventures, Wellington Management, Fidelity, NBCUniversal and Kleiner Perkins,

The bottom line: "The company is on pace to generate more than $700 million in revenue in the fiscal year ending next February, continuing its more than 100% year-to-year revenue growth rate, [CEO] Foley said. It has recently generated EBITDA, but Foley said he expects it to lose money in the second half as the company invests in growth opportunities." — Maureen Farrell, WSJ

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Updated 56 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11:30 a.m. ET: 30,557,899 — Total deaths: 952,981— Total recoveries: 20,822,644Map.
  2. U.S.: Total confirmed cases as of 11:30 a.m. ET: 6,730,304 — Total deaths: 198,679 — Total recoveries: 2,556,465 — Total tests: 93,150,052Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: The dwindling chances of eliminating COVID-19 — Massive USPS face mask operation called off — How the American diet worsens COVID-19.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety net.
  6. Education: At least 42% of school employees are vulnerable.
  7. World: Guatemalan president tests positive for COVID-19.

Trump says Republicans have an "obligation" to fill Ginsburg's seat

President Trump. Photo: Stephen Maturen/Getty Images

President Trump wrote in a tweet Saturday morning that Republicans have an "obligation" to fill Justice Ruth Bader Ginsburg's seat on the Supreme Court following her death Friday.

What he's saying: "We were put in this position of power and importance to make decisions for the people who so proudly elected us, the most important of which has long been considered to be the selection of United States Supreme Court Justices," the president said, tagging the Republican Party. "We have this obligation, without delay!"

Hundreds gather to pay tribute to Justice Ruth Bader Ginsburg along Supreme Court steps

Photo: Alex Brandon/AP

At the Supreme Court steps Friday night hundreds of people gathered to pay tribute to Justice Ruth Bader Ginsburg — singing in a candlelight vigil, with some in tears.

Details: If there is a singular mood at the Supreme Court tonight, it’s some kind of a daze manifested by silence.