FitBit files for IPO

The popular wearable fitness tracker FitBit has filed for an initial public offering, seeking to raise up to $100 million, according to a Wall Street Journal report.

FitBit's sales and profits have skyrocketed, with sales jumping from $271 million in 2013 to $754 million in 2014 and earnings totaling $132 million, according to Bloomberg Business.

In March, FitBit was valued at approximately $1.2 billion, though it is still unknown what valuation the company seeks in its IPO, according to WSJ.

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