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Concept
Fitbit
Summary
Fitbit (stylized as fitbit) is an American consumer electronics and fitness company. It produces wireless-enabled wearable technology, physical fitness monitors and activity trackers such as smartwatches, pedometers and monitors for heart rate, quality of sleep and stairs climbed as well as related software. The company was acquired by Google in January 2021.
In 2019, Fitbit was the fifth largest wearable technology company in shipments. The company has sold more than 120 million devices and has 29 million users in over 100 countries.
The company was founded as Healthy Metrics Research, Inc. in San Francisco, California, on March 26, 2007, by James Park (CEO) and Eric Friedman (CTO). In October 2007, it changed its name to Fitbit, Inc.
In January 2015, the company successfully defended against a trademark lawsuit from Fitbug. On March 5, 2015, Fitbit acquired fitness coaching app developer Fitstar for 732 million.
In May 2016, Fitbit acquired a wearable payment platform from smart credit card company Coin. In October 2016, CEO James Park announced that the company was undergoing a major transformation from what he called a "consumer electronics company" to a "digital healthcare company". On December 6, 2016, Fitbit acquired assets from Pebble for $23 million.
On January 10, 2017, Fitbit acquired Romania-based smartwatch startup Vector Watch SRL.
On February 13, 2018, Fitbit acquired Twine Health. In February 2018, Fitbit announced a partnership with Adidas to release an Adidas-branded Fitbit Ionic; it was released on March 19, 2018. In August 2018, Blue Cross Blue Shield Association announced a partnership with Fitbit in which BCBS will include Fitbit's wearables and fitness trackers in its Blue365 program.
In January 2021, Fitbit was acquired by Google and absorbed into its hardware division. The acquisition was scrutinized by regulators concerned over Google's access to personal data in both the United States and Europe.
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