Red hot fitness equipment and service provider Peloton today announced its first-ever acquisition with the purchase of Neurotic Media. The Atlanta-based music tech startup. Terms of the deal were not disclosed.
Founded in 2001 by music industry veteran Shachar “Shac” Oren, Nerotic’s B2B music platform will enable Peloton to provide subcribers with an enriched music experience. Oren will become a Vice President at Peloton, while retaining his role as CEO and President of Neurotic Media, whose team and offices remain in Atlanta and continue to operate as a standalone subsidiary serving third party clients. Oren will report to Paul DeGooyer, Peloton’s Head of Music.
“Our Members have embraced music as central to the Peloton experience and consistently rank it as one of the top aspects of the brand,” said DeGooyer. “The addition of Shac and his amazing team to the Peloton family will help us rapidly deploy new music features we know our Members want, along with some unique innovations we think they’ll love.”
“We’re proud to join Peloton’s world-class team, and excited to help bring the kind of Member experience breakthroughs the brand is known for to their already powerful music solution,” added Neurotic Media’s Oren. “Peloton’s platform, instructors and community present a rich environment for music ideation and innovation. We’re looking forward to amplifying Peloton’s technology to help Members achieve their fitness goals while discovering great music along the way.”