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Peloton Founder Starts His Next Trek
Photo courtesy Ernesta
Peloton founder and former CEO John Foley (MBA 2001) is moving from home fitness to home decor.
A recent press release announced that Foley and two of his Peloton cofounders are launching Ernesta, a “direct-to-consumer custom rug company” that has raised $25 million in Series A funding.
"You might buy your first rug from Home Depot or Walmart, and then maybe later you're able to afford something from a place like Pottery Barn," Foley told Axios. "And then, just a fairly small number of people get to work with designers to get something much bigger and more beautiful and better for sound and comfort — really elevating their space. We want to make that experience accessible for regular people."
In an interview with Forbes regarding the launch of Ernesta, Foley said he understood that his new venture could seem like a surprise to many. “When we went into the fitness equipment category ten years ago, people were scratching their heads,” he told Forbes. “We believe that ten years from now, people will say, ‘Well, of course, this is one of the great design brands in the world.’”
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