Peloton Ex-CEO John Foley Is Back—With A Custom Rug Startup And $25 Million

Peloton’s former CEO, John Foley, is launching a new startup—and this time it’s not a bike he wants to sell you—it’s a custom-cut rug.

Rugs might seem an unlikely next product for Foley, who cofounded Peloton in 2012 and famously took it public in 2019, as its exercise bikes and peppy streamed virtual classes faced massive demand during the pandemic—then stepped down as growth slowed and its stock tumbled. But in an exclusive interview, Foley toldWhile still CEO of Peloton, no friends took him up on his offers to help fund such a business, Foley said.

“Rugs might seem like a potentially uninteresting category, but there’s probably at least one in your house.”From its founding team to its investors, however, Ernesta does represent a Peloton reunion. Addition, which led the $25 million Series A funding round, is led by Lee Fixel, a Midas List investor who was an early backer and board director at Peloton while an investor at Tiger Global in 2014. True Ventures, which also wrote a sizable check in the round, first backed Peloton in 2015.

$25 million for rugs in the shape of your pets or baby yoda? And no one has caught on to this fraud economy yet?

Lol from 1 debacle to another. And even after he cashed out multi millions he wants funding from others! Man so phishy

Only for this startup to fail in like 4 years🤣🤣🤣🤣🤣🚩🚩🚩🚩

If Peloton couldn't get me cut, how they gonna cut rugs?

Need more diversity in the founding team. Sad

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