Cycling Startup Peloton Files for IPO as Sales, Losses Surge (2)

Peloton Interactive Inc., the home exercise startup, has filed for an initial public offering that will likely be among the year’s biggest.

The New York-based company listed its offering size as $500 million in a filing Aug. 27 with the Securities and Exchange Commission. That amount is typically a placeholder that will change.

Founded in 2012, Peloton describes itself as the “largest interactive fitness platform in the world” with more than 1.4 million members, according to the filing. The company sells exercise bikes and treadmills that have television screens connected to the internet for showing its own workout programs. Its ...