As it stands, Fitbit is the current leader in the wearables market, although it appears that Xiaomi could be catching up, but in the meantime the company has recently made their debut on the stock market in the US where they held an IPO where their stocks were offered at $20 per share, giving them a valuation of about $4.1 billion.
However it seems that investors believe that wearables are the future and due to heavy trading, saw Fitbit’s stocks surge to $30.40 before the market closed where the company’s shares were sitting at $29.68, 48% more than their IPO, ultimately giving them a valuation of a little over $6 billion.
No doubt that this is a pretty impressive feat for a company that was founded in 2007 and despite the company having only a few wearables to its name as part of its lineup at the moment, has still managed to capture the wearables market and outdo some of its more direct competitors like Jawbone, who has recently hit Fitbit with a lawsuit.
For a while it also seemed like the company was in trouble as back in 2014, Fitbit recalled its Fitbit Force wristbands due to numerous complaints from customers who claimed that they were experiencing skin irritations. The company has since pushed past it and have since released new wearables in the form of the Fitbit Charge, Charge HR, and the Surge.
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