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.

More articles on wearables:

Apple HealthKit frees up CIOs for other IT projects, Cedars-Sinai CIO says
Can you heal me now? Healthcare, mobile, and millennials
Wearables: A look to the future or a hyped-up fad?

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months