considering zwift has over 2.5 million users, and a billion dollar valuation, I think the market is larger than you think. I personally know dozens of people who use zwift nearly everyday (although my friend groups skews heavily towards cyclists/fitness enthusiasts)
"We're not [publishing MAU numbers], but I can tell you a couple of tidbits. We've had over 3 million accounts created on the platform. We recently peaked around, I think 45,000 simultaneous users, but hundreds of thousands of customers are using Zwift on a daily basis."
So they definitely don't have 2.5 million users. Maybe they'll get there though!
If we want to compare market caps, Peloton has a 35 billion market cap to zwift's 1 billion. Also, to counter your anecdata, I live in Texas and no zero people that use zwift, but many that use a peloton.
>"I live in Texas and no zero people that use zwift"
This is simply not true. Perhaps you do not know those people but there are plenty of Texans using Zwift.
As for market cap - I own and use many old things. As long as they work why would I give a flying fuck about market cap of the companies that had made those. They might not even be (like my treadmill) in business anymore.
