itBit

itBit

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Fitbit, Inc. is an American consumer electronics and fitness company headquartered in San Francisco, California. Its products are activity trackers, smartwatches, wireless-enabled wearable technology devices that measure data such as the number of steps walked, heart rate, quality of sleep, steps climbed, and other personal metrics involved in fitness. Before October 2007, the company was previously named Healthy Metrics Research, Inc. While these devices appear to increase physical activities, there is little evidence that they improve health outcomes. In 2019, Google announced its intention to buy Fitbit for $2.1 billion. The transaction is expected to close by the end of 2020., According to an IDC report published on March 10, 2020, Fitbit is considered the fifth largest wearable company in shipments as of 2019 with an 14.8% over year growth, behind Xiaomi and Apple. Fitbit reports to have sold more than 100 million devices and have 28 million users.

Snapshot

IndustryFinance
Revenue$1.4 billion
Net Income$234 million
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