Fitbit, Inc.

Fitbit, Inc.

Fitbit, Inc.

Overview
Date Founded

2007

Headquarters

405 Howard Street,San Francisco, CA 94105

Type of Company

Public

Employees (Worldwide)

1,684

Industries

Other Business & Consulting Services
Securities & Commodities Exchanges
Internet Software & Services
Computer Software
Medical Products & Equipment
Hospitals & Patient Services
Appliances & Electronics
Apparel & Footwear
Consumer Services
Medical Support Services

Company Description

Fitbit, Inc. engages in the development of wearable device which tracks data of an individual's health. Its products include smartwatches, trackers, smart scales, and accessories. The company was founded by Eric N. Friedman and James Park in March 2007 and is headquartered in San Francisco, CA.

Contact Data
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Executives & Employees

Co-Founder

Co-Founder

Chief Financial Officer & Chief Accounting Officer

Executive Vice President & General Counsel

Chief Marketing Officer

Vice President & General Manager, EMEA Sales

Senior Vice President & General Manager, Fitbit Health Solutions

Senior Vice President & Managing Director, Fitbit International

Executive Vice President, Operations

Executive Vice President, Engineering

Board of Directors

Co-Founder at Fitbit, Inc.

Dean's Executive Professor-Accounting-Leavey School of Business at Santa Clara University

Chief Operating Officer at Zynga, Inc.

Former Executive Vice President, Chief Financial & Accounting Officer at Whole Foods Market, Inc.

Lecturer, Health Care Management MBA Program at University of Pennsylvania - The Wharton School

Co-Founder at Fitbit, Inc.

Paths to Fitbit, Inc.
Potential Connections via
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Fitbit, Inc.
Owners & Shareholders
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CNH is a discretionary asset management firm specializing in arbitrage investments. The firm's core investment strategies include convertible arbitrage and merger arbitrage; however, they manage other arbitrage strategies including when-issued arbitrage, stub-trading arbitrage, dual-class arbitrage, and price-pressure arbitrage. CNH also manages a limited number of alternative investment strategies including, SPACs, closed-end funds, distressed securities and PIPEs. To implement their arbitrage strategies and other alternative investment strategies, the firm employs fundamental securities analysis.

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Magnetar Financial implements a variety of different strategies in managing private investment funds and separately managed accounts (SMAs) which designed to achieve attractive risk-adjusted rates of return. Some of the funds and SMAs employ a multi-strategy approach, utilizing a wide range of strategies across a range of geographies, while others focus on one or just a few strategies. It may hold both long and short positions in a broad range of securities, derivatives, and other assets. In executing their investment strategies, the funds and SMAs may enter into joint venture or co-investment arrangements, participate in pooled investment vehicles, invest with affiliated or unaffiliated advisors or managers, or make direct investments in operating entities. Magnetar Financial may use leverage in the investing activities and may engage in short selling. The firm's main investment strategies are divided into the following categories: relative-value, event-driven, directional, hybrid and other investment strategies.

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Alpine Associates Management manages the investment portfolios of the Alpine Funds and the accounts of their other clients using several strategies. Their main strategies are merger arbitrage and long/short equity trading. Alpine also uses other strategies including convertible arbitrage and investing in bankruptcy and other credit opportunities. Alpine seeks to produce superior risk-adjusted returns with low volatility in all types of market environments.Alpine's long/short equity trading strategy involves the purchase and sale of actively traded common stocks. They also trades in stock index futures and other derivatives, options, preferred stocks, corporate and government bonds, swaps, other securities and financial instruments and currencies. Alpine may engage in pairs trading. A major part of this strategy involves the creation of synergistic positions in connection with Alpine's merger arbitrage and bankruptcy and other credit opportunities strategies. The firm seeks to capitalize on market dislocations caused by mergers and other corporate transactions and events. They also engage in general equity trading, using technical and fundamental analysis to identify stocks that are underpriced or overpriced relative to their peers or on an absolute basis.Alpine's merger arbitrage strategy focuses on the purchase of securities sought in cash tender offers, exchange offers, mergers or other extraordinary transactions, and the tendering or exchange of these securities for cash or new securities. When a new security is offered in exchange for a purchased security, Alpine simultaneously takes an offsetting short position that is covered with the new security when it is received. This strategy may involve purchasing or selling options, swaps and other derivative instruments to enhance returns or limit risk. Alpine's merger arbitrage strategy focuses on publicly announced transactions with definitive merger agreements.

Recent Transactions
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Fitbit, Inc. purchases Doki Technologies Ltd.

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Google, Inc., Alphabet, Inc. purchase Fitbit, Inc.

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Fitbit, Inc. purchases Twine Health, Inc. from Khosla Ventures LLC, Provenance Ventures LLC, Qiming Venture Partners Ltd., Raptor Capital Management LP (Private Equity)

Insider Transactions
Details Hidden
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Transaction Advisors
Underwriter

Advised onFitbit, Inc. issued USD Common Stock

Escrow Agent

Advised onFitbit, Inc. issued USD Common Stock

Underwriter

Advised onFitbit, Inc. issued USD Common Stock

Associate

Advised onGoogle, Inc., Alphabet, Inc. purchase Fitbit, Inc.

Attorney

Advised onGoogle, Inc., Alphabet, Inc. purchase Fitbit, Inc.

Associate

Advised onGoogle, Inc., Alphabet, Inc. purchase Fitbit, Inc.

Advisors & Consultants
Legal Advisor

Pro Bono Coordinator at Gibson, Dunn & Crutcher LLP

Advisor

Managing Director at The Goldman Sachs Group, Inc.

Legal Advisor

Partner at Quinn Emanuel Urquhart & Sullivan LLP

Clients

Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.

Kohl's Corp. owns and operates family-oriented department stores. It offers apparel, footwear and accessories for women, men and children; soft home products, such as sheets and pillows and house wares targeted to middle-income customers. Its stores generally carry a consistent merchandise assortment with some differences attributable to regional preferences. The company was founded in 1962 and is headquartered in Menomonee Falls, WI.

In 1969, the Detroit-based J.L. Hudson Company merged with the Dayton Corporation to form the Dayton-Hudson Corporation

Key Stats and Financials As of 2019
Market Capitalization
$1.75B
Total Enterprise Value
$1.27B
Earnings Per Share
$-1.25
Revenue
$1.43B
Total Equity
$487M
Net Profit
$-321M
Enterprise Value Sales
0.88x
TEVNet Income
-3.95x
Debt TEV
0.07x
Total Debt
$92.8M
EBITDAMargin
-13.12%
EBITDA
$-188M
Three Year Compounded Annual Growth Rate Of Revenue
-12.74%
Five Year Compounded Annual Growth Rate Of Revenue
13.99%
Non-Profit Donations & Grants
$10K - $25K
2019
$10K - $25K
2018
Investments
Details Hidden

Sano Intelligence, Inc. develops wearable sensor platform for the continuous detection and wireless transmission of metabolic data. It provides easyaccess to check current glucose levels and historical trends to turn insight into action. The company was founded by Ashwin Meher Pushpala and Raj Gokal in 2011 and is headquartered in San Francisco, CA.

Investors
Details Hidden

Co-Founder at Honor Technology, Inc.

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Venture Partner at Industry Ventures LLC

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Founder & Chief Executive Officer at Honor Technology, Inc.

Suppliers
Apple, Inc. Other Manufacturing | Cupertino, CA

Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.

Microsoft Corporation Computer Software | Redmond, WA

Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment comprises products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform. The Intelligent Cloud segment refers to the public, private, and hybrid serve products and cloud services of the company which can power modern business. The More Personal Computing segment encompasses products and services geared towards the interests of end users, developers, and IT professionals across all devices. The firm also offers operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games; personal computers, tablets; gaming and entertainment consoles; other intelligent devices; and related accessories. The company was founded by Paul Gardner Allen and William Henry Gates III in 1975 and is headquartered in Redmond, WA.

Alphabet, Inc. Internet Software & Services | Mountain View, CA

Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube. The Other Bets segment consists of businesses such as Access, Calico, CapitalG, GV, Verily, Waymo, and X. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.

Competitors
Garmin Ltd. Aerospace & Defense - Switzerland

Garmin makes products that are engineered on the inside for life on the outside. They do this so their customers can make the most of the time they spend pursuing their passions. With more than 14,500 associates in 65 offices around the world, they bring GPS navigation and wearable technology to the automotive, aviation, marine, outdoor and fitness markets. They think every day is an opportunity to innovate, and a chance to beat yesterday.

Xiaomi Corp. Other Manufacturing - Beijing, China

Xiaomi Corp. engages in the design, manufacture and sale of smartphone, hardware and software products. Its business covers power bank, audio, camera and lifestyle. Xiaomi doing business through three business segments-Hardware, E-commerce & New Retail and Internet services. Its products include power bank pro, headphones, in-ear headphones pro, bluetooth headset basic with dock, bluetooth speaker, sphere camera, home security camera, action camera, robot builder, electric scooter, bedside lamp, and body composition scale. The company was founded by Jun Lei, Bin Lin, Wan Qiang Li, Feng Hong, De Liu, Chuan Wang, and Jiang Ji Huang on March 3, 2010 and is headquartered in Beijing, China.

Alphabet, Inc. Internet Software & Services - Mountain View, CA

Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube. The Other Bets segment consists of businesses such as Access, Calico, CapitalG, GV, Verily, Waymo, and X. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.

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