Report: Fitbit Plans To IPO Next Year

Fitbit, the company that makes wearable fitness trackers, plans to IPO in 2015, Serena Saitto and Leslie Picker of Bloomberg report

The company will reportedly have Morgan Stanley lead the offering, which could raise about $US150 million, according to Bloomberg’s sources.  

Since it was founded in 2007, Fitbit has raised $US66 million total, most recently through a $US43 Series D round in August 2013. The company was valued at more than $US300 million last year, according to TechCrunch

The wearables market has been growing over the last several years, but sales of fitness bands, like the Fitbit, actually haven’t been that high. In May 2014, the NPD Group reported that only 3.3 million fitness bands had been sold in the US between April 2013 and March 2014. 

 

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