FITBIT was founded by current-CEO James Park and Current-CTO Eric Friedman in 2007 with the aim to create a wearable product that would change the way we move.
The company designs, produces, and markets devices that track fitness performance. Popular models track the number of steps taken per day with a device worn on the wrist that resembles a watch or bracelet. Data measured include also the quality of sleep, steps climbed, and other personal metrics.
FITBIT has offices in San Francisco, Boston, Dublin, Hong Kong, Shanghai, Seoul, Minsk, New Delhi, and Tokyo.
The company filed for an IPO in May 2015 for $100 million and can be found on the NYSE under the ticker symbol: FIT
In January 2017, Fitbit acquired Romania-based smartwatch startup Vector Watch SRL for $15 million.
In April 2017, a female customer claimed her Fitbit Flex 2 malfunctioned and caught on fire, causing second-degree burns on her arm. Following an investigation, FitBit states that the cause of the exploding tracker was due to external forces, and assured its customers that their products are safe to wear.
The company released its Fitbit Ionic smartwatch in October 2017 for $300.
FITBIT is #53 in the 2015 Inc. 5000 list of Fastest-Growing Private Companies in America with a three-year growth rate of 5,075%. The company has 1,694 global employees and had $1.42 billion in revenue in 2019.