A Profitable Fitbit Is Ready To Go Public
Fitbit filed IPO paperwork Thursday as it prepares to enter a competitive fitness-tracking market.By Evan Thomas | May 8, 2015
Fitness-gadget maker Fitbit filed for a $100 million IPO Thursday on the New York Stock Exchange.
It's a nice round number, but it's also expected to be a placeholder. Depending on how its debut goes, the company could well raise more than that. (Video via Fitbit)
"[Fitbit] won't be receiving any of the proceeds from the IPO. So this is a way, presumably, for its backers — its VC and early investors — to cash out of this investment," said Bloomberg's Betty Liu.