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Start Your Autonomous Engines (Rivian vs. Cruise vs. Uber ATG)

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Michael Wenner   October 16, 2019

 

 

 

 
Do you hear that?
 
Probably not, because electric vehicles are notoriously quiet compared to their gasoline and diesel counterparts. And their popularity around the globe is growing rapidly.
 
According to the International Energy Agency (IEA), the electric car fleet grew by 2 million vehicles in 2018, with the global fleet size now exceeding 5.1 million units. New electric vehicle car sales also nearly doubled during this same time frame. The IEA attributes this growth to changes in public policy, technological advancement, and private sector investment.
 
The public sector’s sentiment and investment in electric vehicles (EVs) are apparent in companies like Rivian, Cruise, and Uber ATG.
 
All three are tackling the challenge of developing electric and autonomous vehicles in the hope they will become the transportation of the future.

Rivian Automotive

Rivian is focused on bringing the EV movement to the outdoors. Their two flagship vehicles - the R1T and R1S - are fully-electric adventure-mobiles designed to reduce the impact on the environment and simultaneously help people spend more time outdoors. Their motto, “keep the world adventurous forever”, speaks to this plainly.
 

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EZ on TV: WeWork Woes

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Michael Wenner   August 01, 2019

Yesterday, two members of the EquityZen team were on TV discussing WeWork's upcoming IPO. Check out what they had to say!

 

CEO Atish Davda on CNBC.

 
 
 
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Tech's New Workout Plan: Peloton vs. Mirror vs. ClassPass

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Michael Wenner   July 18, 2019


1 and 2 and 3 and 4 and get them startups right...A new crop of tech companies has set their eyes on the exercise industry, a space that has long seen little movement in business models and offerings. The new focus on the health and wellness industry is in part due to changing spending habits by Americans.

In a 2017 survey, American adults were spending $155 per month on average on health and fitness. As a result, it’s not surprising that startups, like Peloton, Mirror, and ClassPass are vying to capture this health conscious demographic. Below, we’ve provided an overview of the three leaders in this burgeoning space.

Peloton

Peloton has taken the excitement of a spin class and brought it into the comfort of your home. Their signature product is a stationary bike with an electronic screen that can stream both live and on-demand spin classes and bike workouts. Although it has a steep price tag of $2,245 on top of a $39 monthly membership, it has gained a cult following and has now surpassed the membership of the spin class giant SoulCycle.




Peloton was born out of the vision of bringing the experience of fitness classes to people who couldn’t fit the schedules of traditional workout class times into their daily routines. Although Founder John Foley had a hard time raising capital in the beginning, Peloton has raised almost $1 billion in funding and is valued at over $4 billion.

Mirror

Mirror, similar to Peloton, aims to bring the fitness classroom experience to the home through a ‘smart’ mirror. The product, which resembles a full size mirror, allows the user to see and follow a virtual instructor (yoga, cardio, strength, boxing, etc.) while enabling the user to watch their own movements in the reflection. Sporting a price tag of $1,495 and a monthly subscription of $39, Mirror is also targeting the affluent and time constrained professionals market.


Founded by Harvard graduate Brynn Putnam, Mirror has raised $40 million and is only valued at $300 million at this time. Although eclipsed by Peloton’s success, Peloton’s own popularity has helped Mirror gain traction as well.

ClassPass

Whereas Peloton and Mirror are helping people exercise at home, ClassPass is doing the opposite and getting people to attend the more traditional in-gym classes. The company provides a first come first serve marketplace that lets users find and book fitness classes, even if they don’t belong to the corresponding gym or studio. Payal Kadakia, the founder of ClassPass, started the service as a way to book dance classes, but pivoted towards fitness. The advantage of ClassPass is that, with subscriptions ranging from $45 to $135 a month, the user is able to choose from an array of fitness related classes (Spin, Yoga, Boxing, etc.) and attend them without any extra fees.


With a total funding of $255 million and a valuation of $610 million, ClassPass recently acquired a smaller competitor and is well positioned to be the next unicorn in the fitness tech space.

Peloton’s IPO

As the biggest startup out of the three by far, Peloton is now setting its sights on going public. To that end, the company recently filed confidential IPO paperwork with the SEC. Unlike most tech startups, Peloton has been able to quickly become cash flow positive, and could be better positioned than its money losing tech peers (Uber, Lyft) in its public offering. As with some tech IPOs in 2019, Peloton’s IPO could be one full of surprises.


Peloton IPO Date: TBD.
How to Invest in Peloton Stock: Exchange TBD.
Peloton IPO Price: TBD.

Check back for updates as more news about Peloton’s IPO approaches.

P.S. SoulCycle pulled plans to go public in Spring of 2018 due to "market conditions." That doesn't mean you can't tap it back. #SoulFam
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