Fitbit Celebrates IPO With Workout Event Outside NYSE
Posted on June 23, 2015
Fitbit celebrated its successful IPO outside the New York Stock Exchange (NYSE) yesterday. The IPO was set at $20 a share. It is now trading around $38 a share, nearly double its IPO price. Fitbit trades on the symbol FIT.James Park, CEO and co-founder, and Eric Friedman, CTO and co-founder, along with members of Fitbit's leadership team, rang the opening bell yesterday. Celebrity trainer and Fitbit rand ambassador Harley Pasternak led a workout session with actress Jordana Brewster outside the NYSE.
Fitbit says it has sold 20.8 million of its fitness tracking devices since the company was founded in 2007. It is one of the leading companies in the growing wearables industry. So far fitness trackers have proved to be the most popular wearable devices. New items like smartwatches have yet to really take off.
Garvis Toler, NYSE Global Head of Capital Markets, says in a statement, "Fitbit's IPO demonstrates the powerful role technology will continue to play in the health and fitness movement. With the power of capital markets fueling their innovation, Fitbit will be even better positioned to help people lead more active lives through wearable technology, data and inspiration."