Peloton Technology

The unicorn bucket challenge

Unicorn with horn going through money
Illustration: Sarah Grillo/Axios

Venture capital is about to get its own bucket challenge, in the form of unicorn IPOs.

For years now, growth equity valuations have been decoupled from the public markets. Not just on a longer lag, but totally untethered. Even that listed SaaS slump from a few years back didn't really make a dent on relevant valuations for Series C-Series Z rounds.

The big picture: Peloton's $4 billion valuation

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.

More stories loading.