Google taps fitness tracker market with $2.1 billion bid for Fitbit
Google will buy Fitbit Inc for US$2.1 billion, as the biggest Web search company looks to take on Apple and Samsung in the crowded market for fitness trackers and smart watches.
Google will buy Fitbit Inc for US$2.1 billion, as the biggest Web search company looks to take on Apple and Samsung in the crowded market for fitness trackers and smart watches.
Google owner Alphabet has made an offer to acquire U.S. wearable device maker Fitbit, as it eyes a slice of the crowded market for fitness trackers and smartwatches, people familiar with the matter said on Monday.
Fitbit is known for selling fitness trackers to consumers, but the company also sees its fortunes in the enterprise market.
Fitbit appears to be holding its own against the Apple Watch and may have even outsold the device in the U.S. in May, according to estimates from one market researcher.
Fitbit sprinted into Wall Street in its debut as a public company Thursday, as its shares opened 52 percent higher than the price that the wearables company had set for them.
Wearable devices that track steps and monitor sleep may have been dismissed as fads, but Fitbit's upcoming initial public offering paints a different picture.
Jawbone has filed its second lawsuit against Fitbit in less than two weeks, claiming its activity tracking products infringe several of Jawbone's patents.
Fitbit, whose wearable devices collect data on users' fitness activities and sleeping patterns, plans on pricing its initial public offering at US$14 to $16 a share, raising up to $358 million if its stock sells on the high end of the range.
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The intense rivalry in the wearables market has spilled over into court with Jawbone accusing rival Fitbit of "systematically plundering" its employees, trade secrets and intellectual property.
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Fitbit, the maker of wearable activity trackers, has filed to go public and revealed some strong sales numbers in its pitch.
The time is coming for each of us to decide – do we buy this new Apple Watch or not?
You don't need to splurge on a fitness tracking device to record how much you've walked, because smartphone fitness apps do the job just as well, and sometimes better.
The tech industry's most influential companies spent record amounts of money on federal lobbying in 2014 despite a general drop in lobbying by most tech companies. The spending was often directed at areas away from the central business of technology, and it indicates how diverse and powerful major tech companies are becoming.