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IPFS News Link • Business/ Commerce

Fitbit To Be Acquired By Google For $7.35/Share, 63% Discount From IPO Price

• https://www.zerohedge.com, Tyler Durden

The purchase price represents a 63% discount from its $20/share 2015 IPO price (and even more from its opening price of $30.40).

After starting out strong out of the gate, FitBit's revenue growth first slumped, then stalled at around $1.5 billion.

"More than 12 years ago, we set an audacious company vision – to make everyone in the world healthier. Today, I'm incredibly proud of what we've achieved towards reaching that goal. We have built a trusted brand that supports more than 28 million active users around the globe who rely on our products to live a healthier, more active life," said James Park, co-founder and CEO of Fitbit, who waited about 4 yours too long before hitting the sell button.

"Google is an ideal partner to advance our mission. With Google's resources and global platform, Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone. I could not be more excited for what lies ahead."


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