At Peloton, we love two things: technology and fitness. We believe the fitness category has been under-served by technology for too long. At first, we considered just developing the right software platform, but we quickly discovered that by being "vertically integrated" (creating both the hardware and the software, like Apple), we would be able to deliver a dramatically better experience for our consumers. And so, we embarked on the challenging (but super fun) journey of creating The Peloton Bike.
THE PELOTON BIKE
…but the bike itself is just part of the story. Peloton's first-in-class 21.5" Full HD, multitouch console connects to your home WiFi to deliver live and on demand studio cycling classes from the best cycling instructors—anytime.
A sweat-resistant console, 4 times the size of a tablet
An immersive experience starts with a big, bright, and beautiful screen. That's why the Peloton bike has a Full HD 1080P LED panel with an all glass multitouch surface and was designed to be totally sweat resistant to withstand the rigors of a high-intensity workout. Still, it's what's behind the screen that makes the Peloton completely unique. A 1.5 GHz dual-core processor from Texas Instruments helps bring you fast HD streaming video. A front facing camera and microphone mean you can interact with friends and encourage one another while you ride. Bluetooth and ANT+ radio allow you to connect heart rate monitors and wireless headphones or speakers. And 802.11 b/g/n WiFi give you the industry's top connection speeds. This is what modern fitness looks like.
Designed for a perfect fit
Reinventing fitness required paying attention to every detail, like the resistance knob on your Peloton bike. It fits perfectly in any hand and the rounded dimples around the large-circumference control provide you a stable grip even while you're dripping sweat.
Your Peloton bike also gives you micro-adjustable seat and handle bar posts. There are no peg holes to line up – just a high-tension system that locks in place exactly where you want it. And while you're busy getting lost in your Peloton streaming class, you can tilt the screen with a gentle push or pull and it holds firmly in place.
Poly V® power transmission belt drive
Peloton threw away the chain and replaced it with a strong, built-to-last belt drive. The result is an incredibly quiet and smooth ride. It feels spectacular and you'll never bother anyone else while you ride. What's more, you'll never need to oil or grease a chain again. This modern drive system is gracefully housed in a slim, sleek, translucent case that complements the Peloton bike's flowing lines.
Magnetic resistance system
Brake pads are a thing of the past. Peloton's magnetic resistance system never touches the flywheel so it has no wearing parts and will remain strong.
The Peloton Experience
Peloton offers live streaming and on demand classes from some of the best indoor cycling instructors broadcast direct to your Peloton bike. Connect Peloton's immersive 21.5" multitouch console to your WiFi and get instant access to great workouts any time you want from the convenience of home.
The Peloton Classes
In order to bring you the best indoor cycling classes, Peloton is launching an indoor cycling studio here in NYC and we will be streaming these classes to you live (and then on-demand) all day long. And as you can see from this marketing piece, we are not messing around in our efforts to get the best instructors:
We realize that these classes make all the difference in the Peloton experience As such, we are committed to getting the best instructors, the best music, and providing the best production value of the video ever seen in this category. We are already well on our way on each front.
And as part of this Kickstarter campaign, we are giving all supporters – who contribute more than $1,000 – a full year of unlimited live and on-demand streaming classes! After a year, you will continue to have access to a free tier of classes and we will offer full access for a flat subscription fee. We have not locked on the exact pricing of this monthly subscription, but we commit that it will not be more than $39/month for Kickstarter supporters (and we will work hard to offer it for even less).
THE PELOTON TEAM
WHAT THE FUNDS ARE FOR
Peloton raised money from angel investors last year to get the company off the ground. We have enough money to pay our team for the foreseeable future and open our indoor cycle studio here in New York. But we need the help of the Kickstarter community in order to fully cover the tooling costs and meet the minimum order requirements of our manufacturing partners.
To put that another way, we've spent the last 18 months hand making different versions of the Peloton bike. But in order to produce the bike we need to setup the machine manufacturing process. This involves building the "tools" required to create each unique part (yes, we first have to build the machinery that will build the bike!) and pre-purchasing lots of steel, aluminum, plastic, microchips (there are 17 in our console alone), etc. To be clear, this is the easy stuff–it just requires money upfront.
If we meet our funding goal of $250,000, we will be properly capitalized (i.e. "have enough money") to officially start building the Peloton Bike. Are you in?
THE PRODUCTION PLAN
There are two core manufacturing partners involved in delivering the Peloton Bike:
1) Our Indoor Cycle Partner - We have a very deep partnership with one of the best indoor cycle manufacturers in the world. This partner has produced nearly one million indoor cycles over the past two decades. From the Chairman on down, they clearly see the Peloton Bike as the future of indoor fitness and they are highly motivated to make this project a success.
2) Our Tablet Computer Partner - Making a custom tablet computer was not easy. It was a full-fledged computer engineering effort (hardware and software) and one in which we wanted to deliver in spades. As such, we partnered with one of the leading ODM companies in Asia; a company that services several Fortune 500 companies. Their team is fantastically talented, professional, and as technical with the software as they are the hardware that they build.
Both partners have committed to delivering the first production run within 90 days of the first order (which will be placed the day this Kickstarter campaign ends). The Peloton Bikes will then spend ~45 days in containers on ships coming over from Asia, arriving at our East Coast warehousing facility. We feel comfortable targeting November 2013 for our first full-production shipments to supporters in the US, and January 2014 for our first International shipments.
EARLY VERSIONS OF THE PROTOTYPE
WHAT PEOPLE ARE SAYING ABOUT PELOTON:
- Frame: Carbon steel and aluminum monocoque construction
- Resistance: Neodymium rare earth magnet resistance system
- Drive: Poly V® power transmission belt drive
- Pedals: LOOK Delta compatible thermoplastic pedals
- Seat: Sport series saddle with depressed ergonomic center channel
- Crank arms: 170mm carbon steel
- Bottom bracket: Precision steel 13/68mm
- 21.5" Full HD 1080p Screen
- PCAP Multitouch
- 1.5Ghz TI OMAP 4470 Dual-core Processor
- 1 GB RAM
- 16 GB Internal Flash Storage
- WiFi 802.11 b/g/n
- ANT+™ Wireless
- Bluetooth 4.0
- 100Mbps Ethernet
- 2 x 3 Watt Stereo Speakers
- 3.5mm TRRS Headphone and Microphone Connector
- 1.3 Megapixel Front Facing Camera
- Android 4.1
- Peloton Cycle Data Connector
Risks and challenges
Similar to many Kickstarter projects, we face some risks as we endeavor to build and deliver such an ambitious product. Luckily, we have taken most of the “technology risks” off the table through aggressive prototyping of both the hardware and the software over the past 18 months. So we are left with mostly:
- Financing Risk
- Execution Risk
With respect to financing risk, we feel very comfortable that if we hit our Kickstarter funding goal, we will have enough money (and momentum) to succeed on this project, to run our business, and to deliver you your Peloton Bike.
That leaves “execution risk” as the biggest bogey in our business. Manufacturing timing, supply chain optimization, delivery logistics, etc will not be tackled and solved until our first major production run. From there, customer service and maintenance will be the challenge that we will obsess about and make sure we nail. We have a team of proven executors and operators and we have fantastic partners who excel in each of the above named operations. But since we’re asked to list “Risks and Challenges”, we feel compelled to point out that until we do these things in scale, they remain risks to you getting your Peloton Bike.Learn about accountability on Kickstarter
- (30 days)