And so are many of his original investors and employees from Peloton — the fitness company Foley founded in 2012 andWhile rugs are a surprising next step after creating a fitness behemoth, Foley said he talked about starting the company for more than a decade, even mentioning it to investors in the early days of Peloton.
Ernesta — a portmanteau combining the first name his favorite author, Ernest Hemingway, and middle name of his favorite musician, Bob Marley — is direct-to-consumer and lets shoppers customize rug patterns and dimensions to fit any room, delivering the finished product in two weeks.Foley, a self-described bibliophile, said the name Ernesta was partly inspired by Ernest Hemingway and partly by the middle name Bob Marley, Nesta.
At its apex — during pandemic lockdown — Peloton was valued at $50 billion company. But, hobbled by overproduction, recalls, bad press and declining interest in the pricy bikes, it was valued at just $1.2 billion earlier this month. , COO Jamie Beck, CEO John Foley, Chief Sales Officer Jennifer Parker, CFO Jesse Selznick, Co-Founder and Chief Legal Officer Hisao Kushi, CMO Alan Smith, Co-Founder, and CTO Yong Feng, and VP of Product Marissa Vivori at Ernesta headquarters.