Peloton files IPO plan

Peloton Interactive is going public.

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The startup known for its exercise bikes and workout programs has filed for an initial public offering.

The company hopes to be listed as a publically traded company this year.

According to a filing with the Securities and Exchange Commission, Peloton is listing its offering size as $500 million.

The company which was founded in 2012 has more than 1.4 million members who can access live and on-demand classes from home.

Peloton lost $196 million on sales of $915 million during the 12 months ended June 30, according to its filing.

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The company warned it may not turn a profit or maintain profitability in the future.