When the pandemic hit in 2020, Peloton enjoyed overnight success when millions of spin enthusiasts around the globe raced to buy its at home exercise equipment.The company was already riding high off an extremely successful IPO, which went it went public in 2019 saw employees sip champagne and eat seafood as many toasted becoming millionaires overnight.The company began hiring rapidly and released new products, while spending thousands to get bikes delivered to customers as fast as possible.
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