Garrett Black June 11, 2015
The NYSE is set to get FIT. Fitbit’s IPO doesn’t just show how far the company has come since it was founded, it shows how far wearables have come. Targeting the fitness space initially, the key functions of wearables are expanding rapidly to include messaging, notifications and more. With further bio-integration just around the corner, however, health is likely to remain the core niche for wearables. And that’s exactly what Fitbit is positioned to capitalize on, with its commanding market share. It may face stiff competition as other companies get in and accelerate the wearables game, but for now, it still is the clear market leader.
Fitbit’s IPO also makes it unlike other trendy VC-backed startups that achieved considerable success recently in that it’s actually completing an exit by going public—VC-backed tech IPOs have been rare in 2015. It may not have achieved lofty private valuations like those of Uber or Snapchat, but it’s doing just fine. Its recent global marketing push helped it top worldwide wearables shipments in 1Q 2015. Plus, if it is the first to pull off integrating more advanced sensors and computing to enable more sophisticated health tracking, such as glucose metering, Fitbit may just be on the verge of immense success.
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