Sunday, May 10, 2015

Fitbit launch IPO or a wearable device first listed company in the field

Fitbit wearable device company today officially submitted to the United States on the NYSE IPO application, plans $ 100 million public financing (but the amount may change), and have been identified under the ticker symbol FIT. Morgan Stanley, Deutsche Bank and Merrill Lynch will be the lead underwriters listed Fitbit.

Fitbit Founded in 2007, precisely because of earlier entered the field of wearable devices, so set up a certain advantage. According to its prospectus disclosed that in 2014 Fitbit sold a total of 10.9 million sets of wearable devices, more than double the 2013's. Nearly two years of its financial situation is very good, in 2014 turnover reached 740 million, and net profit of 130 million.

Data analysis reports in addition to selling hardware products, Fitbit there is a piece of the revenue from user fees, the annual fee is $ 49.99. As of the first quarter of this year, Fitbit active users of the service charge of 950 million people.

Fitbit's current flagship product sports bracelet Fitbit Charge and Fitbit Flex, There is also a smart watch Fitbit Surge.

As more and more companies began to enter the field of smart wearable devices, Fitbit will face more intense competition. Apple and other large companies, especially admission, Fitbit will form a great pressure. Late last year, Apple had the shelf Fitbit own line of products within the store.

Fitbit total financing of $ 80 million on the history, the current co-founder of two JamesPark (CEO) and EricFriedman (CTO) owned 10.9% stake in the company. Their investors FoundryGroup, TrueVentures and Softbank shares accounted for 28.9%, 22.4% and 5.6% respectively.

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