Peloton Launches “Repowered” Resale Marketplace for Used Equipment

Peloton Interactive Inc. (NASDAQ:PTON) is one of the best high short interest stocks with huge upside potential. Earlier in June, Peloton officially launched “Peloton Repowered,” which is a new peer-to-peer resale marketplace for its equipment and accessories. Currently in its beta phase, the platform is initially available only to sellers located in the Boston, New York City, and Washington, D.C. metropolitan areas, with plans for national expansion in the coming months.

At launch, users can list items for sale, and the ability to purchase is expected to become available to buyers in the same metro areas within the then-next few weeks. Sellers on Peloton Repowered will receive 70% of the sale price. Additionally, successful sellers will be given a discount on new Peloton workout equipment, ranging from $200 to $600, depending on the type of new equipment purchased.

Peloton Launches "Repowered" Resale Marketplace for Used Equipment

A group of people in a fitness class with connected fitness products in a studio or gym.

Buyers utilizing Peloton Repowered will benefit from a reduced used equipment activation fee of $45, which is a decrease from the typical $95 fee. Sellers have the option to arrange for pickup with buyers or use a prepaid USPS label for accessories. The Peloton Repowered platform is operated in partnership with Archive, which is a resale company that raised $15 million in a Series A funding round in 2022 and recently completed a $30 million Series B funding round on February 4 this year, bringing its total funding to $54 million.

Peloton Interactive Inc. (NASDAQ:PTON) operates an integrated fitness platform in North America and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.