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Fitbit fever as wearable tech giant floats on New York Stock Exchange
POSTED 18 Jun 2015 . BY Jak Phillips
Fitbit users can now connect with friends, so they can compare stats, share progress and cheer each other on
Wearable tech giant Fitbit will float on the New York Stock Exchange later today (18 June) in one of the most highly-anticipated IPOs of the year.

Wall Street is awash with excitement for the listing, which has seen both the share count (now 34.5 million shares) and price range (now US$17 to US$19) increased due to demand. Analysts are forecasting full take-up on the shares, pointing to the tier one lead underwriting team of Morgan Stanley, Deutsche Bank, and BofA Merrill Lynch as an indication of the magnitude of the deal.

Fitbit, which produces six wearable health and fitness trackers, has become one of the standard-bearers for the booming wearable tech market.

In 2014 the company generated US$745.4m (€652m, £471.5m) in revenue, almost triple that of the previous year and the same pace has continued into 2015. In Q1 2015, revenue surged 210 per cent to US$336.8m (€295.7m, £211.6m), with the number of devices sold more than doubling year-on-year.

Wearable technology has to date been regarded by many as a threat to traditional gyms, however Fitbit believes its success can lead to a symbiotic relationship with the health club sector that will ultimately inspire consumers to become more active.

“Fitbit is an ideal fit for the health club industry, as both parties have the shared goal of encouraging people to lead healthier, more active lives,” Fitbit VP and general manager EMEA Gareth Jones recently told Health Club Management.

“Clubs offer the environment and facilities to help people make changes to their lifestyle, and Fitbit empowers users with the information and motivation they need to reach their fitness goals and make these lifestyle changes permanent ones.”

To read the full interview with Fitbit’s Gareth Jones about motivating people through challenges and rewards – from the latest edition of Health Club Management – click here.
RELATED STORIES
  Wearable fitness tracking device Fitbit prepares for listing on New York Stock Exchange


Wearable tracking device, Fitbit, has filed for an initial public offering worth up to US$100m (€87.4m, £63m) and intends to lists its shares on the New York Stock Exchange.
  Exercise tracking to aid spine surgery recovery procedures


Fitbit activity trackers are to be used to measure exercise levels for a new study which aims to use the data to help calculate a patient’s recovery time from spine surgery.
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Planet Fitness increases price of basic membership for first time in over 20 years
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Xponential dumps Geisler as company faces investigation by US Attorney’s Office
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NEWS
Fitbit fever as wearable tech giant floats on New York Stock Exchange
POSTED 18 Jun 2015 . BY Jak Phillips
Fitbit users can now connect with friends, so they can compare stats, share progress and cheer each other on
Wearable tech giant Fitbit will float on the New York Stock Exchange later today (18 June) in one of the most highly-anticipated IPOs of the year.

Wall Street is awash with excitement for the listing, which has seen both the share count (now 34.5 million shares) and price range (now US$17 to US$19) increased due to demand. Analysts are forecasting full take-up on the shares, pointing to the tier one lead underwriting team of Morgan Stanley, Deutsche Bank, and BofA Merrill Lynch as an indication of the magnitude of the deal.

Fitbit, which produces six wearable health and fitness trackers, has become one of the standard-bearers for the booming wearable tech market.

In 2014 the company generated US$745.4m (€652m, £471.5m) in revenue, almost triple that of the previous year and the same pace has continued into 2015. In Q1 2015, revenue surged 210 per cent to US$336.8m (€295.7m, £211.6m), with the number of devices sold more than doubling year-on-year.

Wearable technology has to date been regarded by many as a threat to traditional gyms, however Fitbit believes its success can lead to a symbiotic relationship with the health club sector that will ultimately inspire consumers to become more active.

“Fitbit is an ideal fit for the health club industry, as both parties have the shared goal of encouraging people to lead healthier, more active lives,” Fitbit VP and general manager EMEA Gareth Jones recently told Health Club Management.

“Clubs offer the environment and facilities to help people make changes to their lifestyle, and Fitbit empowers users with the information and motivation they need to reach their fitness goals and make these lifestyle changes permanent ones.”

To read the full interview with Fitbit’s Gareth Jones about motivating people through challenges and rewards – from the latest edition of Health Club Management – click here.
RELATED STORIES
Wearable fitness tracking device Fitbit prepares for listing on New York Stock Exchange


Wearable tracking device, Fitbit, has filed for an initial public offering worth up to US$100m (€87.4m, £63m) and intends to lists its shares on the New York Stock Exchange.
Exercise tracking to aid spine surgery recovery procedures


Fitbit activity trackers are to be used to measure exercise levels for a new study which aims to use the data to help calculate a patient’s recovery time from spine surgery.
MORE NEWS
UK Active and Savanta launch quarterly consumer engagement insight
Improving physical strength and fitness, mental health and confidence are the main reasons for joining a health club, while cost, time and motivation are the main reasons for leaving.
Snap Fitness' holding company – Lift Brands – is up for sale
Speaking to HCM, global CEO of Lift Brands, Ty Menzies, has confirmed that the company –  owner of Snap Fitness and Fitness On Demand – is up for sale.
Planet Fitness increases price of basic membership for first time in over 20 years
Planet Fitness has announced the repurchase of 314,000 shares at a rate of US$20 million. The Class A common stocks were repurchased and retired, using cash.
Xponential dumps Geisler as company faces investigation by US Attorney’s Office
Xponential Fitness today indefinitely suspended founder and CEO, Anthony Geisler, saying it had been notified on 7 May that the company is facing a legal challenge by the United States Attorney’s Office for the Central District of California.
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Complaints about group exercise have become a thing of the past for the Reynolds Group thanks to its partnership with CoverMe, a digital platform that simplifies group exercise and PT management for clubs and instructors. [more...]

Empower your team, transform your service – elevate with coaching workshops
In today's competitive fitness landscape, the key to success lies not only in providing exceptional facilities but also in cultivating meaningful interactions with members. [more...]
+ More featured suppliers  
COMPANY PROFILES
Alliance Leisure

Alliance Leisure Services was specifically established to respond to the changing development need [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

DIRECTORY
+ More directory  
DIARY

 

18-22 May 2024

Eco Resort Network

The Ravenala Attitude Hotel, Mauritius
23-24 May 2024

European Health Prevention Day

Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
+ More diary  
 


ADVERTISE . CONTACT US

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Tel: +44 (0)1462 431385

©Cybertrek 2024

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