SoulCycle, New York City, expanded its footprint in Boston this week.
The boutique cycling brand opened its second Boston city location on Wednesday in Beacon Hill, giving the company three locations in the Boston area. The 3,240-square-foot club has 57 bikes and charges $30 per class, according to a Boston.com report.
The opening comes two months after SoulCycle opened its first club in the city in the Back Bay. The Boylston Street club was first announced in May 2015, and SoulCycle told Club Industry at the time that its goal was to expand further into Boston and Massachusetts. SoulCycle's first club in the Boston area is located in Chestnut Hill.
SoulCycle filed papers for an initial public offering in July 2015. The amount of shares, price per share and a date for the IPO has yet to be announced, according to an amended registration statement filed with the Securities and Exchange Commission in December 2015.
SoulCycle, which charges about $34 for a 45-minute group cycle session, reported revenue of $112 million in 2014 and $117.6 million for 2015 through Sept. 30. The IPO could value SoulCycle as much as $900 million, according to a Bloomberg Business report.
SoulCycle has not publicly disclosed a reason for delaying its IPO; however, it was not alone last year in postponing an offering. Albertsons and Neiman Marcus also filed for IPOs that did not materialize in 2015.
Forbes contributor Matt Porzio speculated markets are more forgiving now after a historical trend of penalizing companies that postpone an IPO.
"Delaying an IPO can give a company more time to build a record of performance and enable investors to become more familiar with it," Porzio wrote this week. "So some flotations that were delayed last year may expect a friendlier welcome over the coming months."