Peloton, which has entered the market with a smart exercise bike and later expanded its offering with a connected treadmill, has confidentially submitted a draft registration statement on Form S-1 with the SEC relating to the proposed initial public offering (IPO) of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The IPO is expected to commence after the SEC completes its review process, subject to market and other conditions.

In addition to connected fitness equipment, Peloton is also producing specialized content which is presented to the users on the devices’ big screens. Said content includes courses, streamed classes and coaching.

Last August, the company raised a massive round of $550 million with a valuation at around $4 billion. In total, Peloton raised almost a billion dollars from investors such as TCV, Kleiner Perkins, Wellington, True Ventures, Felix Capital, GGV Capital and NBCUniversal.