Peloton Ex-CEO John Foley Is Back—With A Custom Rug Startup And $25 Million

Foley and two other ex-Peloton cofounders are launching Ernesta, a direct-to-consumer custom-cut rug business, with $25 million from Addition and True Ventures and a team of former managers from their former company.

Peloton’s former CEO, John Foley, is launching a new startup—and this time it’s not a bike he wants to sell you—it’s a custom-cut rug.

Foley is launching Ernesta, a direct-to-consumer custom rug business, alongside two cofounders from his Peloton days, Hisao Kushi and Yong Feng. Ernesta is coming out of the gate with $25 million in venture capital funding and a founding team made up entirely of ex-Peloton managers.

→ Continue reading at Forbes - Startups

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