In May, FitBit filed for a $100 million IPO, making it the first pure wearable technology company to go public. The wearables veteran has made recent waves for lawsuits with Jawbone, as well as its recall of the FitBit Force in early 2014 for allergic reactions. However, the rocky path has not stopped the tech titan from reaching great heights in advance of the IPO.
Business Insider reported that “not only was the share count bumped up to 34.5 million from 29.9 million, but so too was the price range, to $17-$19 from $14-$16. That increased the proposed deal size by 38% to $621.0 million, at the mid-point of the new price range.” In short, Fitbit earned itself a $3.7 valuation.
