Google has not been great at handling its hardware acquisitions. In 2019, Alphabet announced its intention to acquire Fitbit for $2.1 billion. However, it remains geared towards fitness and health, while Apple and Samsung have been able to broaden their market to other types of customers. In the past few years, Fitbit has attempted to build an Apple Watch competitor, with the ability to make payments and respond to messages. In 2019, it counted 29 million active users on its platform, which accounts for about a quarter of the company’s total fitness tracker sales. Like most market leaders, the company originally called the smartwatch a different product type, only to slowly realise many of its customers were happy to ditch a fitness tracker for a feature-packed smartwatch.įitbit has added more active users every year, even as its lost market share and revenue. More than $8 billion had been shaved off Fitbit’s market cap by 2017, as Apple and Xiaomi overtook Fitbit.įitbit entered the smartwatch market late. This was the height of wearable hype, as Apple launched the first Watch and Pebble launched a second Kickstarter, reaching $20 million.įitbit would acquire Pebble in 2017 for $23 million, a sign that some of the spark had left the wearables market. In 2013, Fitbit launched a fitness tracker with a heart-rate sensor, and has since added new sensors to track EDA, temperature, sleep and menstrual cycle.įitbit went public in June 2015, surging from a $4 billion company to $9.7 billion by 2015. With every Bluetooth update, Fitbit enabled more health and fitness tracking.

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