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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4 hours ago - Health

15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
4 hours ago - Health

In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.