Peloton investor wants it to sell up to Apple, Disney, or Nike
What you need to know
- Peloton has been told that it should sell to Apple among others.
- Blackwells Capital wants Apple, Disney, or Nike to be sounded out for a buyout.
- Blackwells called for CEO John Foley to be ousted.
The troubles facing Peloton are well known with the company reportedly slashing production of its fitness devices as well as its workforce. Recent talk has Apple as a potential buyer for the company and now one investor wants that to be more than idle chat.
Peloton has reportedly received a letter from Blackwells Capital, a company that owns a stake of less than 5% of the company. Apparently ignoring that fact, Blackwells not only wants Apple to be sounded out for a potential buyout but also wants co-founder and CEO John Foley to be kicked out. Bloomberg has reportedly seen the letter itself.
The news follows a torrid time for Peloton that has so far seen its shares fall more than 80% from their all-time high a year ago.
Whether Apple would actually be interested in picking up Peloton is open for debate, however. While the links to Apple Fitness+ are obvious, but it isn't known whether Apple has plans to expand into the kinds of live fitness coaching that Peloton has become famous for.
It is equally unclear whether Disney could be interested, but the link to Nike perhaps makes the most sense given the fact it is ostensibly a fitness outfit.
Apple Fitness+ is available as a $4.99 per month subscription and is also part of the Apple One subscription bundle, too.
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Oliver Haslam has written about Apple and the wider technology business for more than a decade with bylines on How-To Geek, PC Mag, iDownloadBlog, and many more. He has also been published in print for Macworld, including cover stories. At iMore, Oliver is involved in daily news coverage and, not being short of opinions, has been known to 'explain' those thoughts in more detail, too.
Having grown up using PCs and spending far too much money on graphics card and flashy RAM, Oliver switched to the Mac with a G5 iMac and hasn't looked back. Since then he's seen the growth of the smartphone world, backed by iPhone, and new product categories come and go. Current expertise includes iOS, macOS, streaming services, and pretty much anything that has a battery or plugs into a wall. Oliver also covers mobile gaming for iMore, with Apple Arcade a particular focus. He's been gaming since the Atari 2600 days and still struggles to comprehend the fact he can play console quality titles on his pocket computer.