> Fitbits’ stock shot up almost 30 percent after the first rumors surfaced. In recent months, the company’s stock often traded below $3, down from close to $48 shortly after its IPO in 2015. Today, after the announcement, it went up to around $5.20.
Good lord, must the acquisition offer feel like a relief? Surely, Fitbit wouldn't do a Groupon now.
The article fails to mention Fossil, but Google recently did acquire their wearables research division for $40M [0]. It looks like Google is gearing up to launch multiple wearables. Xiaomi, Huawei, and Huami have really taken the wearables market by storm [1]. If anything, price differentiation seems to be the key. I hope the rumoured Pixel Wearable isn't comically expensive like its Phone counterparts.
Good lord, must the acquisition offer feel like a relief? Surely, Fitbit wouldn't do a Groupon now.
The article fails to mention Fossil, but Google recently did acquire their wearables research division for $40M [0]. It looks like Google is gearing up to launch multiple wearables. Xiaomi, Huawei, and Huami have really taken the wearables market by storm [1]. If anything, price differentiation seems to be the key. I hope the rumoured Pixel Wearable isn't comically expensive like its Phone counterparts.
[0] https://www.theverge.com/2019/1/17/18187026/google-fossil-gr...
[1] https://www.businesswire.com/news/home/20191017005172/en/Hua...