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How Tech-Focused Unicorns Adapt
Here s a playbook for tech companies with high-growth aspirations.
Facing a massive, pandemic-fueled surge in demand as the exercising public abruptly shifted to home-based workouts, Peloton had no time to backpedal. Instead, the booming member-based cycling and exercise equipment supplier behaved as a company with unicorn status should: It pivoted.
Leaning heavily on the digital capabilities that had helped power its rapid climb in the at-home fitness market, Peloton unblinkingly adjusted its highly successful business model on the fly to preserve the member experience that has been central to its success. It moved from in-home assembly to threshold delivery, bringing fully assembled bikes to the customer’s doorstep. With production studios and retail showrooms closed, it retrained and redeployed employees for sales and member support roles. Then Peloton shifted gears again, giving its instructors the equipment they would need to stream live clas