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Report: Peloton acquires intellectual property, technology & employees from PeerFit – Corporate Wellness Platform

Several outlets are reporting that Peloton has quietly acquired some intellectual property from Peerfit, a digital fitness benefits startup based out of St. Pete, Florida.

The only 100% confirmed details right now are that a transfer of technology & IP has took place between Peerfit and an “unnamed company”. As reported by the Tampa Business Bay Journal

The company told the Tampa Bay Business Journal Tuesday night it has signed a deal selling a portion of the company’s technology intellectual property and also transferred employees who worked with that IP to an unnamed company.

While the Tampa Bay Business Journal does not disclose the name, a separate report from the St. Pete Catalyst reports that unnamed company as Peloton

People familiar with the deal have told the St. Pete Catalyst that it was an eight-figure transaction and that the buyer was Peloton (Nasdaq: PTON), an interactive fitness platform. Neither Peloton nor Buckley would confirm that.


“While we’re a company of builders, we are always open to pursuing acquisitions that accelerate our ability to produce world class products and services for our Members or enter new markets,” a spokesperson for Peloton told Catalyst.

Following those reports, the team at Exits & Outcomes did some additonal reporting. They discovered that 30 percent of Peerfit’s employees recently joined Peloton.

Here are three:

  • Drew Bisset, formerly Peerfit’s CTO is now a senior director at Peloton.
  • Steve Mulder, formerly Peerfit’s Chief Information Security Officer is now a senior manager of security and compliance at Peloton.
  • Max Pazdan, formerly Peerfit’s VP of product, is now a staff product manager at Peloton.

There’s at least 28 other Peerfit employees, mostly with titles related to software engineering (a few iOS devs), who joined Peloton in October. So, north of 30 Peerfit employees joined Peloton last month. And, according to Linkedin, Peerfit dropped its headcount from more than 90 employees in October to more than 60 today.

Both the St. Pete Catalyst and Exits & Outcomes note an interesting tidbit in a recent SEC filing from Peloton, which indicates Peloton has done some acquisitions recently that have yet to be publicly disclosed.

In October 2020, the Company entered into two separate agreements to purchase various developed technology, intellectual property and related assets for approximately $74.0 million.


The Company has not yet completed its evaluation and determination of consideration paid, certain assets and liabilities acquired, or treatment of these transactions as either a business combination or asset acquisition in accordance with Topic 805.

Assuming the reports are correct, what is Peloton actually gaining? This seems likely to play into Peloton’s efforts to grow the commercial & corporate side of their business. A big part of Peerfit’s model was around corporate wellness programs, designed to “Boost employee engagement and track usage while your team stays healthy and motivated.” If Peloton integrates their platform, it could make Peloton a more interesting option for large corporations and insurance companies – which would be another pipeline for Peloton to grow their member base, as they try to reach Peloton CEO John Foley’s long term goal of 100 million users.

These are not the first acquisitions for Peloton. Around this same time last year, it was reported that Peloton acquired one of their manufacturing partners (Tonic), as well as a small design company, Gossamer Engineering. In the summer of 2018, Peloton acquired Neurotic Media, a music startup.

This news was first reported last week by the St. Pete Catalyst, and separately reported by Exits & Outcomes on Monday. John Mills (aka Run, Life & Live) discovered the reports this week.

Chris L
Chris is the founder of Pelo Buddy. He purchased his Peloton in 2018, and has been riding and running ever since. You can find him on the leaderboard at #PeloBuddy.

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