Your favorite spinning studio-slash-cult is going public.
SoulCycle filed for an IPO on Thursday. The spinning studio — which was born in New York but has since expanded to a number of locations including the Hamptons, Los Angeles, and Boston — earned $112 million in revenue in 2014, according to its filing. The company, which is owned in part by fitness studio giant Equinox, is working with Goldman Sachs, Citigroup, and Bank of America Merrill Lynch, among others, to go public.
See also: Fitbit files for $100 million IPO
If you’re not a member of the SoulCycle tribe — the group of devotees who spend $34 (plus $3 for shoe rental) for 45 minutes of interpretive bike dancing set to Kanye West, Katy Perry, and a host of Skrillex remixes — we’ve got an explainer for you on the hottest exercise brand to hit Wall Street. …
Via: Mashable: Business