Hydrow Said to Explore Going Public at Over $1 Billion Valuation

Hydrow, maker of a $2,245 rowing machine, is exploring strategic options such as an initial public offering or merging with a special purpose acquisition company, according to people with knowledge of the matter.

The Cambridge, Massachusetts-based company, which is targeting a valuation of more than $1 billion, is working with an adviser as it weighs options that also include raising fresh funding from private equity investors, to fund domestic and international growth, one of the people said.

A Hydrow representative declined to comment.

Hydrow competes against companies including Peloton Interactive Inc. for a share of the at-home fitness market. ...