A line of costume managers spoke outside the ballroom of the Lotte Palace Hotel in downtown Manhattan on Thursday, where the busy fitness company Peloton was to give its stock exchange listing. But many were not there to pressure Peloton CEO John Foley or CFO Jill Woodworth on finances.
Rather, they were much more interested in a selfie with the Peloton star's training instructor and vice president for programming by Robin Arzon. Dressed in a knee-pink tutu, Arzon posed for photos with fans whose only interaction with her previously was live streaming of classes on $ 2,000 bikes. Other instructors also stood at a mini gym set up outside the Villard ballroom, ready for pictures in front of the bike, $ 4000 treadmill and yoga mat with two dumbbells.
"When I walked in, I saw these two big lines, and I thought it was for registration, and it turns out it was for taking selfies with the instructor," said one participant. "It's insane. People are obsessed."
See more: CEO of Startup Bike Startup Peloton says the company & # 39; sells happiness & # 39; in his big pitch to investors
Another participant at the roadshow told Business Insider that he knew going into the meeting that he would not invest in the company ̵
"I felt a little strange eating dessert in a crowd like this, I mean everyone is equally fit and attractive," said a participant to Business Insider. Dessert for lunch was an apple tart, many of which was untouched after the event.
Money Losing Peloton is slated to price its highly-awaited stock exchange mid-next week in an offer that could value the company at around $ 8 billion.
But it has been a tough road this year for richly valued, high-profile start-ups to list in the public markets. Ride-sharing companies Uber and Lyft are trading below their IPO prices, while coworking startup WeWork has delayed public offering after a cool reception from investors.
Last week, the management of the Peloton stopped in Frankfurt and London before hitting New York and Boston. Next week, they will meet investors in San Francisco, and potentially the Midwest, ahead of IPO prices Wednesday, according to a copy of the roadshow plan seen by Business Insider.
While Peloton describes himself as both a media company and a global technology platform, a money manager told Business Insider that he compares it to companies like Roku and Netflix. Another participant said he struggled with comparisons and called the business model "good, not good."
Peloton leaders Foley and Woodworth and President William Lynch all spoke during the event. While executives emphasized that the average Peloton user who owns the equipment does 24 workouts per month, a couple of participants debated that statistic after the presentation and compared their own plans to understand if it could be true.
See more : Peloton says that only 0.65% of subscribers cancel every month. Here's why customer inventory experts believe the number & # 39; fails the odor test. & # 39;
Another said that the company's executives emphasized penetration beyond upper-class households – Peloton says its largest growing market is people earning under $ 75,000. a year. Compared to other subscription platforms such as Hulu and Netflix, the company said subscriber and users are much lower.
Prior to the lunch, a participant said he wanted to understand Peloton's potential responsibilities stemming from a pending copyright lawsuit over music.  The Roadshow swag bag was emblazoned with the Peloton logo and contained a branded hat and water bottle. At least one participant seemed to sell the company personally and professionally.
"For $ 40 a month you get so much," he said, referring to the cost of Peloton's power service. "I love the bike. It's a great business." When asked if he wanted to buy the stock exchange, he said "completely."