Some of the co-founders of interactive fitness platform Peloton, including former CEO John Foley, have reportedly started a new business selling custom rugs on the Internet.
Peloton’s former chief legal officer Hisao Kushi and former chief technology officer Yony Feng joined Foley to launch Ernesta, which lets people buy custom-designed and cut rugs for roughly the same price as standard products in stores, with fast delivery. The company just closed a $25 million Series A funding round, the company said in a statement on Monday.
Foley stepped down as chief executive of Peloton in February and stepped down as chief executive in September. A darling during the pandemic, the company is trying to emerge from a slump that has seen its shares tumble about 75% this year.
Foley will serve as CEO of Ernesta, which is based in New York, while Kushi and Feng will serve as chief legal officer and chief technology officer, respectively. They were joined by a few other Peloton colleagues.
Ernesta will open to U.S. customers in spring 2023.
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