Fitbit recordsdata For $100M IPO
The wearable-know-how company is having a look to raise $a hundred million.
may 7, 2015
hold on, Apple Watch: Fitbit, the company in the back of the favored Flex activity trackers, simply filed to move public. the corporate is having a look to raise $a hundred million.
Fitbit offered virtually 11 million units and saw $745 million in income last yr, with $132 million of net earnings. that is a major bounce ahead from its 2013 efficiency, which noticed $271 million and a internet loss of $fifty two million. the growth is particularly impressive bearing in mind best closing February a slew of consumer complaints led the corporate to do not forget more than 1,000,000 devices of its force wristbands, which have been said to lead to skin rashes.
not rather, Fitbit includes the Apple Watch in its submitting’s dangers section, highlighting how its market section is turning into increasingly aggressive—and noting that a few of Fitbit’s competitors have a leg up with regards to reach, brand acceptance, and product range. Fitbit believes it will possibly differentiate thru its “singular center of attention” on well being:
“by using offering a wide vary of products spanning styles and reasonably priced price points and cross-platform compatibility, we empower a variety of people with completely different fitness routines and objectives that are troublesome for other opponents to handle. furthermore, our singular focal point on building a linked health and fitness platform, coupled with a leading market share, has ended in our brand becoming synonymous with the connected health and health category. This singular center of attention on well being and fitness has pushed us to commit vital tools to developing proprietary sensors, algorithms, and instrument to be sure that our merchandise, which are namely oriented in opposition to health and health, have correct measurements, insightful analytics, compact sizes, durability, and lengthy battery lives.”
though Fitbit faces deep-pocketed competitors like Apple, its strides, especially compared to the company’s wearable-opponent Jawbone, which has stumbled nowadays, possibly make it acceptable that its business might be listed on the new York inventory change below the ticker “match”.
[by means of business Insider]