Hah, I had forgotten all about Peloton. Same story, but at least they are "only" valuing losing money at 1 billion.

Peloton filed its initial prospectus last month. Documents showed while Peloton’s revenue is growing, its losses are widening. In the fiscal year ended June 30, Peloton reported sales grew 110% to $915 million from $435 million in fiscal 2018. Meanwhile, its 2019 net loss widened to $245.7 million, from a net loss of $47.9 million in the prior year.

https://www.cnbc.com/2019/09/10/peloton-sets-ipo-range-between-26-and-29-per-share-looks-to-raise-as-much-as-1point2-billion.html

We will see if investor appetite remains as lackluster I suppose.