The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
Foley: Peloton will be one of the special companies of our generation
“I think if we do it well, this will be one of the special companies of our generation.”
Foley: Peloton raised zero institutional money after pitching hundreds of VCs
“Three years later, after pitching hundreds of venture capitalists and thousands of angels, I hadn't raised a dime of money from an institution.”
Foley: 400 institutional investors rejected Peloton before 100 angels gave $10M
“We have a hundred angels to get the first ten million, but in order to get a hundred angels at my success rate, I probably pitched 3000 people. And then the fourth, the 400 institutions that all said no.”
Foley: Peloton raised roughly $10M from 100 angels across three years
“Three years later, I had a hundred checks from a hundred angels that amounted to a roughly ten million dollars, and that's how we capitalized the first three years of Peloton.”
Foley: Peloton spent $50M each on New York and London studios
“We have these fancy studios in New York and London, and we've spent, you know, fifty million dollars a piece, I believe, on these two studios, so real investments.”
Foley: Early Peloton team got kicked out of Flywheel and SoulCycle
“Well, we all of us very quickly got kicked out of Flywheel and SoulCycle.”
Foley: Half of Peloton's 200 Kickstarter buyers were existing investors
“And 200 people I guess we raised 300,200 people bought, and a hundred of them were investors.”
Foley: Peloton converted 50% of mall shoppers who tested the bike
“Generally, if I could get somebody on a bike, honest to God, I got to a point where it was There's a fifty-fifty chance that you're gonna buy the bike, even though you just heard of it.”
Foley: 60% of Peloton demand occurs between Thanksgiving and late February
“We have a uniquely seasonal business where I think we've said 60% of our demand is between Thanksgiving and the end of February because of holiday sales and the cold winter months.”
Foley: Peloton delivery wait times peaked at 10 to 11 weeks
“Yeah, I think it's spiked at 10 or 11 weeks in some markets, and I think we're down to six or seven weeks in most markets at this point, and as we continue to build capacity in our manufacturing pipeline and supply chain we're able to you know, meet the demand…”
Foley feared vilification over Peloton's massive profitability during the pandemic
“And the third earnings call, We were profitable and growing tremendously, but it was this new world order, to your point, Guy, and it was all of a sudden, oh gosh, we don't want to be vilified for being profitable.”
Foley: IAC acquired Evite for $3M and cut staff from 120 to six
“And I think we bought it for three million dollars, because it was 2001, and everything had crashed. And so, it had, at one point, a 120 people. I got it down to six people.”
Foley: Peloton raised a $400k seed round at a $1.6M pre-money valuation
“The seed round was relatively easy. It was 400,000 dollars At a 1.6 million pre money valuation, so two million post.”
Peloton reached term sheet stage with Flywheel before deal fell apart
“And we got a couple weeks into a term sheet with Flywheel and then they backed away. They'd just gone through a financing round, and it didn't make sense with their new investor.”
Foley cleaned Peloton's bathrooms and vacuumed daily for three years
“I cleaned the bathrooms and I vacuumed every day for three years in this little place we had, and I kept it clean because We couldn't afford a cleaning office, and I didn't want anyone else distracted with the cleaning”
Foley: Peloton's first prototype was manufactured 40% too large
“There was a little scale problem where the first prototype was about 40% too big.”