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Peloton
Peloton was founded in 2012 by John Foley, built around a distinctive business model combining internet-connected stationary exercise bikes with live and on-demand streamed fitness classes, letting home users participate in a studio-style workout experience without leaving their house. The company experienced extraordinary growth during the 2020 COVID-19 pandemic, as widespread gym closures drove massive demand for at-home fitness equipment, and Peloton's subscription-based class content, taught by a roster of individually branded celebrity fitness instructors, became a defining feature of pandemic-era home fitness culture. Peloton's stock and demand fell sharply once gyms reopened following the pandemic, leading to significant layoffs, executive leadership changes, and a broader business restructuring, making the company a widely cited case study in the challenges of pandemic-driven demand later reverting closer to pre-pandemic norms. Peloton's combination of its pioneering connected-fitness-plus-streaming-content business model and its dramatic pandemic-era boom-and-correction cycle has made it one of the most closely watched companies in the modern fitness equipment industry.
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NordicTrack
NordicTrack was founded in 1975 by Edward Pauls, an aerospace engineer who originally designed the company's first product, a cross-country ski simulator machine, specifically to help himself train for skiing during Minnesota's off-season months. The company became one of the most recognized names in home fitness equipment throughout the 1980s and 1990s, particularly known for its ski machines and later treadmills, becoming a fixture of American home fitness culture well before the connected-fitness era began. NordicTrack, now owned by parent company iFIT, has more recently repositioned itself as a connected fitness brand, adding interactive touchscreen displays and streamed workout content to its treadmills and exercise bikes to compete directly against newer connected-fitness entrants like Peloton. NordicTrack's combination of its origins in a Minnesota engineer's ski-training invention and its more recent pivot into connected fitness technology has made it one of the most historically enduring brands in home fitness equipment.
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