As president of Newark, New Jersey's Kemsco Construction and Equipment Company, Ralph Serpe oversees all aspects of the business, including managing a budget with annual revenues that exceed $70 million. Beyond his professional pursuits, Ralph Serpe enjoys cycling outdoors throughout New Jersey, as well as indoors on his Peloton bike.
Peloton was launched over four years ago as an interactive, indoor cycling platform, but as the company has grown so has its product base. In early January, the Manhattan-based enterprise announced the development of a high-tech treadmill that will expand upon similar technology and interaction utilized by the popular bike. The treadmill, which is expected to go on sale later in 2018, will cost an estimated $4,000 plus a $39 monthly fee for access to livestream training sessions and on-demand content. The treadmill measures 18 square feet, and its screen is roughly four times the size of that attached to the bike. The new machine was also developed using cost-effective 3-D printing technology.
The product has been in development for the past two years, said Peloton CEO John Foley, who also noted the market for treadmills is five times the size of the bike market. Beyond the piece of equipment's use of technology to make exercise more engaging, it also includes 59 individual slats to allow for more comfort when running.
