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- People who own Flywheel At Home exercise bikes can trade in their soon-to-be-defunct bikes for a similar model from Peloton through March 27.
- Flywheel will shutter its at-home subscription services around the same time, The Verge reported.
- The offer comes after Flywheel settled with Peloton over allegations that it copied Peloton.
- Flywheel owners who trade in their bike will get a refurbished Peloton for free, but will have to pay for a Peloton membership.
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Cycling company Flywheel said it will shut down its Flywheel At Home subscription service - but owners will still be able to cycle after Peloton said it would give Flywheel owners a free Peloton for trading in their old Flywheel.
The offer comes after Flywheel settled with Peloton over allegations that it copied Peloton's popular at-home exercise bike, an alternative to in-person spin classes like the ones offered by Flywheel. In a 2018 lawsuit, Peloton alleged that Flywheel copied Peloton technology to stream live and on-demand classes and track rider performance.
After Flywheel said it would shut down 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 series of steps 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.
Flywheel did not respond to a request for comment.