Fitbit’s numbers will just be a drop in the bucket for Google out of the gate. But Google will get much more from Fitbit over time than just revenue. In fact, Fitbit may end up being more valuable for GOOGL stock than investors realize. First of all, FIT stock investors should be thrilled with the buyout.
Why did Google buy Fitbit for $2 billion?
The news sent Fitbit stock soaring 15.5%. GOOGL stock traded higher by 1% on a strong day for the market. Neither the deal’s $2.1 billion price tag nor Fitbit’s $313 million in revenue will ...
What does the Fitbit-Google merger mean for Your Privacy?
by Phil Baker. 02 Nov. With Google’s purchase of Fitbit for $2.1B, it’s an admission that their own efforts in the wearables market have failed, and the realization of how far Fitbit has fallen since it went public four years ago when it was valued at $9B. It’s another big disappointment for one of Silicon Valley’s most visible hardware startups. It was less than a decade ago that wearables …
Why has Fitbit stock been so weak in recent years?
Nov 12, 2019 · Fitbit stock had lost roughly 70% in value from its initial $20.00 price. Now Google is buying Fitbit at $7.35 a share, in a deal valued at $2.1 billion. (Source: “ …
Did alphabet just save Fitbit’s investment?
Nov 01, 2019 · Something is loading. Fitbit's stock price soared 17% Friday after Google agreed to buy the wearables company for $2.1 billion, or $7.35 per share in …
What happens to Fitbit stock after buyout?
As for the stock owner, your shares will either be converted to fair amount of Google that correlates your shares of Fitbit or your account will show the shares disappear and they will be replace by the cash value of your shares.
Can you still buy Fitbit stock?
Fitbit stock can be bought through any reputable broker with access to trade stocks listed on the New York Stock Exchange (NYSE). If your objective is to buy FIT as an investment and hold the stock in a trading account for long term capital appreciation, then you could open an account with a discount broker.May 12, 2021
What will Google do with Fitbit?
Image Credits: Google “[A] world-class health and fitness service from Fitbit is coming to the platform,” the company noted. Beyond adding Fitbit's well-loved tracking features, the company will also be integrating Wear features into Google's hardware, working to blur the line between the two companies.May 18, 2021
Does Google own Fitbit?
Google recently confirmed that it has finally completed its acquisition of the wearable fitness giant Fitbit. It had been more than one year since Google first announced the planned acquisition of the brand and, now that the deal is done, some might be concerned about the future of the fitness-focused company.Jan 20, 2021
Does Fitbit have a stock symbol?
Fitbit Inc (FIT)Jan 14, 2021
Who owned Fitbit before Google?
Fitbit CEO and co-founder James Park on his own fitness routine and selling to Google for $2.1 billion.Aug 3, 2021
Did Fitbit merge with Google?
Alphabet-owned Google announced Thursday it's completed its acquisition of Fitbit. The deal had been subject to a months-long probe into whether it could further push Google's market position in the online advertising business if it uses Fitbit data to help personalize ads.Jan 14, 2021
Google-Fitbit Deal
Being a shareholder of a company that’s about to be acquired can be a fantastic way to see your investment portfolio grow. Being able to anticipate a deal by closely watching the markets and the news can be hugely beneficial.
Potential Acquisition Targets
A company that’s an acquisition target is usually in one of two situations: 1) it’s underperforming and a larger company sees an opportunity to swing in and gobble it up while it’s cheap, or 2) it’s a fast-rising star and a potential rival to a bigger company that wants to absorb the competition.
Analyst Take
There are few better ways to earn big in the stock market than by scoring a strong stock early. Solid companies in their early stages make for great acquisition targets as well.
How much did Google buy Fitbit?
Google Buys Fitbit For $2.1 Billion: Here’s What It Means. Opinions expressed by Forbes Contributors are their own. Fitbit is now to be part of Google’s range of companies. After days of rumors and reports, Fitbit has been acquired by Google for $2.1 billion. kids, Fitbit Ace, along with the Fitbit family account and female health tracking ...
Who bought Fitbit?
After days of rumors and reports, Fitbit has been acquired by Google for $2.1 billion. kids, Fitbit Ace, along with the Fitbit family account and female health tracking at its launch event in New York, Monday, March 12, 2018. The newest devices and features from Fitbit support the company's vision of making the world healthier, ...
When will Fitbit Versa 2 be released?
Fitbit announces its fall device and software lineup, including Fitbit Premium, innovative sleep tools, the full-featured Fitbit Versa 2 smartwatch with Amazon Alexa Built-in, and its affordable Aria Air smart scale on Tuesday, Aug. 27, 2019 in New York.
Who is the CEO of Fitbit?
James Park, Fitbit CEO, said “"With Google's resources and global platform, Fitbit will be able to accelerate innovation in the wearables category, scale faster and make health even more accessible to everyone.”. A focus on health again, you see.
Does Fitbit have OS?
Fitbit has the great benefit that it controls both hardware and software for its gadgets, something which Google may like, though Google will doubtless continue to make Wear OS available on rival brands’ smartwatches, too. Even so, it seems future Fitbits will run Wear OS. James Park, Fitbit CEO, said “"With Google's resources and global platform, ...
Is Fitbit platform agnostic?
He also said: “Fitbit will continue to remain platform-agnostic across both Android and iOS.”. You only have to look at Apple Watch to see how health-focused, as opposed to fitness-focused, wearables have become. Fitbit’s acquisition of healthcare-related companies will be useful to Google, too.
Does Fitbit sell personal information?
Fitbit has stressed that privacy is still important, stressing in the blog post where the price was revealed that “The company never sells personal information, and Fitbit health and wellness data will not be used for Google ads.”.
Google struck an all-cash arrangement with Fitbit
Although Fitbit stock has declined, we do not expect Google to make any savings on its Fitbit acquisition, as Google entered into an all-cash transaction agreement with Fitbit, and stock movements have no impact on the deal’s value.
Google keen to diversify its revenue sources
Google’s Fitbit acquisition deal comes as it works to diversify its revenue sources. Presently, Google and its parent, Alphabet, rely heavily on the advertising market for revenue. In the third quarter, for instance, advertising sales contributed 84% of Alphabet’s total revenue.
Google Is Looking to Buy Fitbit, Which Is Good News for Shareholders but Terrible News for Users' Privacy
If you own stock in Fitbit, the fact that Google appears to be interested in buying the wearable-device maker is very good news. If, on the other hand, you own and use an actual Fitbit, it could be really bad news.
Google hasn't yet offered a compelling wearable device. Now it's looking to just buy one instead
If you own stock in Fitbit, the fact that Google appears to be interested in buying the wearable-device maker is very good news. If, on the other hand, you own and use an actual Fitbit, it could be really bad news.