Amazon reportedly interested in buying Peloton
The e-commerce giant might be eyeing another brand to acquire.
Will Amazon get into the exercise bike business?
Amazon is one of several potential buyers of fitness company Peloton, according to a Friday report from The Wall Street Journal. This comes two weeks after news came out saying Peloton might cease production and possibly lay off employees.
An Amazon spokesperson said the company doesn't comment on rumors. Peloton didn't immediately respond to a request for comment.
Peloton is one of the companies that prospered during widespread COVID-19 lockdowns as more people stayed home and purchased its exercise bikes . It began having trouble last year, when its Tread fitness treadmill had to be recalled due to injuries. The company did bring it back to the market, but according to CNBC in January, Peloton will cease production of the Tread. Peloton has since denied that assertion.
That same report also said Peloton stopped producing its primary piece of fitness equipment, the Bike, because of a lack of demand. The company has since paused production of the upgraded version of the exercise bike, Bike Plus.
Peloton's stock jumped 26% in after-hours trading following the news of a possible purchase by Amazon. The company will report its quarterly earnings Feb. 8.