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Flywheel At Home shutting down, owners can trade bike for free Peloton - Business Insider

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Flywheel is shuttering its subscription service after settling a lawsuit over allegations it copied Peloton — but Flywheel owners can trade in their bikes for a free Peloton

, Peloton alleged that Flywheel copied Peloton technology to stream live and on-demand classes and track rider performance. its Flywheel At Home service on March 27, Peloton said that Flywheel owners will be able to get a free, refurbished Peloton if they trade in their old Flywheel by the same date.

Converted users will have to pay Peloton's monthly fee of $39 to use Peloton's subscription, which provides users with live, virtual cycling classes. Peloton told Business Insider that it looks forward to welcoming Flywheel users into the "Peloton family" and that Flywheel owners will need to complete a

to claim their new bike. Previous owners are not eligible, as Peloton said they need to be able to hand over an old bike for a new one.

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