Peloton Unveiled a $4,000 Treadmill -- and Everything Is Riding on It The $1.25 billion company spent 18 months secretly working on its second-ever product. Is it the beginning of a new fitness revolution?

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John Foley can't find his desk. The co-founder and CEO of Peloton is showing me around the Manhattan headquarters of his company -- which streams boutique-style cycling classes to high-tech, at-home exercise bikes -- and explains that the open floor plan was recently rearranged. It's something they do every six months to keep the space feeling fresh and get different departments talking, he says. It's a practice he loves, and he stands by it. Though it can be disorienting.

"Oh, here it is!" He practically giggles. It turns out his desk is now next to Hisao Kushi's, one of his co-founders. As our tour continues through the offices, Foley is warm and affable with the ever-increasing number of staffers. The company moved here a little more than a year ago and took up two full floors; today it occupies six. In turn, those staffers seem at ease with their leader. More than one pokes fun at his new mustache.