The Forbes piece “How a Former Ballerina Turned Mirror into a Buzzy $300 Million Brand” is as much a profile of founder Brynn Putnam as it is a story about the meteoric rise of connected, at-home fitness. “With a market capitalization above $13 billion and a product and marketing campaign that have become a meme, Peloton has emerged as the buzziest fitness company of the coronavirus era. But privately owned Mirror is hot on its heels, with a single advantage Peloton can’t match: compactness,” the author writes.
To date, Putnam has raised $72 million and the company is valued at just under $300 million. Putnam, the sole founder, is worth at least $80 million—and after the Covid-19 boost, probably much more. Her challenge going forward: ensuring that Mirror becomes the new normal, versus a fleeting pandemic trend. Pundits and stakeholders aren’t concerned. “This is here to stay. It’s not a fad,” says Jed Katz, managing director at Javelin Venture Partners, who personally invested in Peloton but is not invested in Mirror. “It’s addicting, it’s convenient and the content has gotten so good.”