Fitbit filed for an initial public offering with the Securities and Exchange Commission on May 7 Photo by Thinkstock

Fitbit filed for an initial public offering with the Securities and Exchange Commission on May 7. (Photo by Thinkstock.)

Fitbit Files for IPO of $100 Million

Fitbit filed the initial public offering with the Securities and Exchange Commission on May 7.

Fitbit is planning to go public.

The San Francisco-based fitness device manufacturer filed for an initial public offering (IPO) of $100 million on the New York Stock Exchange on May 7.

The company reported net income of $131.8 million on revenue of $745.4 million last year in the filing with the Securities and Exchange Commission. It earned $48 million on revenue of $336.8 million in first quarter 2015.

Fitbit produces six wearable connected health and fitness trackers with price points ranging from $59.95 to $249.95. Core functions of each device include tracking daily steps, calories burned, distance traveled, floors climbed as well as displaying real-time feedback to users.

In March, the company purchased FitStar, a platform for delivering personal workout videos and fitness routines over mobile phones.

Fitbit’s products are sold in more than 45,000 retail stores in more than 50 countries, according to its filing. 

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