On November 1st, Google (GOOGL) introduced it might purchase good wearables firm Fitbit (FIT) for $
On November 1st, Google (GOOGL) introduced it might purchase good wearables firm Fitbit (FIT) for $2.1 billion. This value represents a substantial low cost from the $10 billion market cap that FIT was buying and selling at following its IPO in mid-2015. This inventory has finished nothing however break down since, as client demand for the product pale. Beneath you possibly can see how FIT has traded because it went public four years in the past.
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Fitbit watches had been all of the hype in wearable know-how earlier than the Apple (AAPL) Watch launch in 2015, which appeared to shift client focus. The Apple Watch was a tool that seamlessly built-in with the US’s favourite smartphone (the iPhone) and has been taking a considerable quantity of market share from Fitbit.
Shopper Considerations
So the query stays, why would Google purchase a agency with a dying product? Some assume it is a play for Google to achieve extra client information on anybody sporting one among these units. This concept has brought about fairly just a few folks to set down their Fitbit watches for the final time.
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