Peloton, the New York-based company which sells stationary bikes that stream spinning classes, hired Jill Woodworth, a JPMorgan Chase veteran, as CFO. The news is a strong sign that the company is preparing to go public this year, as founder John Foley told The Information last year.
It also shows that Peloton is keen to have diversity within top management. Earlier this week the company added to its board Pamela Thomas-Graham, the founder and CEO of Dandelion Chandelier, a private digital media enterprise reporting on luxury goods and services, and a former Credit Suisse banker.
Also today, the company said it hired Jessica Kleiman as vice president, global communications, who previously worked at Instagram. It also hired Jasmine Maietta as vice president, brand marketing from Under Armour; David Deason as vice president, real estate, who spent 20 years at Barnes & Noble, and Zac Jacobson, vice president, member support, from eBay.
The company, which was founded in 2012 and raised more than $400 million of financing from investors including Tiger Global Management and Fidelity Investments, was valued $1.25 billion as of September last year. JPMorgan is likely to be the lead underwriter for Peloton’s IPO, after it managed a $325 million private placement for the company last year. Reached by phone, Mr. Foley declined to comment on which banks he is hiring.