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Wireless

Fitbit files for IPO

Friday 8 May 2015 | 12:57 CET | News
Fitbit, a US-based maker of connected, wearable fitness devices, filed for an initial public offering to raise up to USD 100 million. The amount is based on the filing fees and is subject to change when further details of the IPO are finalised. The listing on the New York Stock Exchange is aimed at raising working capital and creating a public market for its stock. The SEC filing shows that Fitbit more than tripled its sales in the first quarter to USD 336 million, while net profit jumped to USD 48 million from USD 9 million a year earlier. It sold 3.866 million devices in the three months,

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Categories: Mobile & Wireless
Companies: Fitbit
Countries: World
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