Fitbit Files for $100 million IPO Share
Fitbit filed for an IPO yesterday and they have some pretty impressive numbers to show off. Their 2014 revenue of $745 million was 3x their 2013 and 10x their 2012 revenues, which is very strong growth. And now just 2 months into 2015, their revenue is already at $336 million. Not only are they bringing in more money, but their profits are going up as well. All things considered, Fitbit looks like a very healthy young company on paper.
I wrote last month that I think companies like Fitbit and Jawbone have a tough road ahead, and I still believe it. My Apple Watch has made me lose all interest in any dedicated fitness tracker.