As of March 31 Fitbit had sold more than 208 million devices since the company39s inception in 2007 according to its Securities and Exchange Commission  filing

As of March 31, Fitbit had sold more than 20.8 million devices since the company's inception in 2007, according to its Securities and Exchange Commission filing.

Fitbit IPO Could Raise $478 Million

The maker of wearable devices that track health and fitness plans to offer 29.85 million Class A stock between $14 and $16 per share.

Fitbit could raise nearly $478 million in its initial public offering.

The maker of wearable devices that track health and fitness plans to offer 29.85 million Class A stock between $14 and $16 per share, according to its updated Securities and Exchange Commission Form S-1 filed Tuesday.

The San Francisco company reported net income of $131.8 million on revenue of $745.4 million in 2014 and earned $48 million on revenue of $336.8 million in first quarter 2015. Fitbit, which filed for the IPO on May 7, reported income of $4.2 million in 2012 and $51.6 million in 2013.

Fitbit produces six wearable 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.

The company sold 1.3 million devices in 2012, 4.5 million devices in 2013 and 10.9 million devices in 2014. As of March 31, Fitbit had sold more than 20.8 million devices since the company's inception in 2007, according to its SEC filing.

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. Fitbit reported 6.7 million active users at the end of 2014, up from 2.6 million active users in 2013.

Fitbit held the leading position in the U.S. connected activity tracker market with an 85 percent share, by dollars, in the first quarter of 2015, according to The NPD Group.

Fitbit is facing a lawsuit from competitor Jawbone as it prepares to go public. Jawbone filed the suit May 27 alleging that Fitbit hired Jawbone employees away from the company for the purpose of finding out confidential information about Jawbone.

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