Google buys fitness company Fitbit for 2 billion dollars

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Fitbit went public with an issue price of $ 20 per share in 2015 – but has since fallen to $ 3.

With the resources and Google platform, Fitbit will be able to bring about rapid innovation, said co-founder and chief James Park. The data from Fitbit would not be used for the placement of Google ads, it said. At the same time, there was no promise to store data separately, as did Google's acquisition of smarthome specialist Nest. Meanwhile, Nest has been completely incorporated into the hardware division of Google.

The business of Fitbit ran bumpy recently, because the pioneer was taken from two sides in the pincers. In the lucrative market of computer clocks the company from San Francisco could not keep up with the Apple Watch. With cheap fitness bands that include footsteps and calories burned, Chinese rivals such as Xiaomi and Huawei are tearing the water off the industry pioneer Fitbit. In the second quarter, Fitbit posted a loss of nearly $ 36 million on sales of $ 313.6 million.

Google developed the specially computer-clock-oriented operating system Wear OS. It is derived from the Android system, which dominates the smartphone market. For computer clocks, however, the Android camp could not catch up with the Apple Watch, although devices from various manufacturers are on the market. Earlier this week there had been reports of a buy offer from Google for Fitbit.

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Source link
https://www.nachrichten.at/wirtschaft/google-kauft-fitness-firma-fitbit-fuer-2-milliarden-dollar;art15,3181517

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