Peloton Is Said to Pick Goldman Sachs, JPMorgan to Lead IPO

Peloton Interactive Inc. has chosen Goldman Sachs Group Inc. and JPMorgan Chase & Co. to lead its initial public offering, which could value the home exercise startup at more than $8 billion, according to people familiar with the matter.

Banks took part in a competitive pitching process, known as a bake-off, over the past few weeks, said the people, who asked not to be identified as the details aren’t public. No final decision has been made on the timing or size of the IPO, they said.

Representatives for Peloton, Goldman Sachs and JPMorgan declined to comment. Representatives for L Catterton ...