Is Fitbit Going To Sell?

Is fitbit being sold?

Google has just announced that it’s buying wearable company Fitbit for $2.1 billion.

According to a separate press release issued by Fitbit, the company will still take privacy for health and fitness data seriously, noting that “Fitbit health and wellness data will not be used for Google ads.”.

Who owns fitbit now?

Alphabet Inc.PendingFitbit/Parent organizations

Why did Google buy Fitbit?

Google says it is acquiring Fitbit to bring together “the best AI, software and hardware” in order to “spur innovation in wearables and build products to benefit even more people around the world.” It complements Google’s vision for “ambient computing,” as my WIRED colleague Louise Matsakis points out; gives it more …

How much did Google buy Fitbit for?

(NYSE: FIT) today announced that it has entered into a definitive agreement to be acquired by Google LLC for $7.35 per share in cash, valuing the company at a fully diluted equity value of approximately $2.1 billion.

Is fitbit owned by Apple?

Now Apple will have real competition. Google bought FitBit for $2.1 billion today, and if Google gets this right, the company’s Wear OS will finally become a worthy contender in the fitness, health, and wearable tech categories.

What happens to my Fitbit stock now?

Once everything gets finalized, the shares will rise in the market to cash acquisition price. Believe that’s $7.35. And once it’s final you’ll get your cash and they’ll retire the shares.

Why is fitbit stock so low?

Fitbit Inc. shares are plunging in Thursday trading after the wearables pioneer slashed its third-quarter and full-year forecasts, reflecting a disappointing showing for the lower-priced Versa Lite smartwatch, which launched earlier in the year.

What is Google going to do with Fitbit?

In announcing its planned $2.1 billion acquisition of fitness tracking company Fitbit, Google said the deal will “help spur innovation in wearables” — at least, that’s how Senior Vice President of Devices & Services Rick Osterloh put it in a blog post.

Is fitbit losing money?

The wearable technology company lost 2 cents per share on revenue of $571 million in the fourth quarter. Analysts polled by Thomson Reuters expected a break-even quarter for Fitbit, with revenue of $589 million. Consumer hardware is a notoriously difficult business. … That’s going to continue to put pressure on Fitbit.

What will happen to fitbit stock if Google buys it?

Google parent company Alphabet will buy Fitbit, putting the tech giant head to head with Apple in the fitness tracking space. The deal values Fitbit around $2.1 billion at a fully diluted equity value, according to Friday’s announcement. Google will pay $7.35 per share in cash for the acquisition, Fitbit said.

Did Google buy Fitbit?

Google announced it was buying Fitbit last year for $2.1 billion and said it hoped to complete the deal some time in 2020.

Is fitbit made in China?

Fitbit said last month it’s moving manufacturing operations out of China and that starting in January, the firm expects its smartwatches and health trackers won’t be of Chinese origin and therefore not subject to import duties.

Will fitbit stock go up in 2020?

Fitbit, Inc. quote is equal to 6.960 USD at 2020-10-28. Based on our forecasts, a long-term increase is expected, the “FIT” stock price prognosis for 2025-10-22 is 11.318 USD. … Your current $100 investment may be up to $162.62 in 2025.

Who is Fitbit’s biggest competitor?

Fitbit’s competitors Fitbit’s top competitors include Xiaomi, LG Electronics, Apple, Fossil Group, Garmin, Bloom, Jawbone Health, Misfit Wearables and Wiivv Wearables. Fitbit is a company providing wearable devices with software and services that help users reach their health and fitness goals.

What is the best alternative to Fitbit?

These extras are nice, but you primarily wear a Fitbit alternative to keep track of your health.Best Overall: Garmin Vivosmart 4. Amazon. … Entry Level: Lintelek Fitness Tracker. Amazon. … Best Smartwatch: Apple Watch Series 6. B&H. … For Serious Workouts: Whoop Strap. Facebook / WHOOP.