Peloton said it will acquire the fitness equipment manufacturer Precor in a deal worth $420 million. Peloton said the deal was motivated in large part by Precor’s U.S.-based manufacturing capacity, which Peloton said will allow it to deliver its connected fitness cycle and other products to its customers more quickly. Since the pandemic led to a surge in sales of Peloton’s products, the...
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A Long, Strange Trip for the ‘Uber for Nurses’
Will Patterson was on a hot streak. As the co-founder and CEO of CareRev—a gig-work platform sometimes described as an “Uber for nurses”—he saw his company’s business surge during the pandemic as hospitals and clinics scrambled to find healthcare workers. In late 2020, he seized the moment by pitching investors over Zoom about his vision for marrying technology and...
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