Fitbit IPO Raises $732 Million
Wearable device maker Fitbit, in its initial public offering Thursday raised $732 million, valuing the company at $4.1 billion.
According to Dealogic, as cited by the San Jose Mercury News, the IPO is the largest in the history of the consumer electronics industry, nearly doubling GoPro’s number of $427 million earlier this year. GoPro’s record beat that of Duracell, which had stood since 1991.
The company’s shares will sell on the New York Stock Exchange, under the symbol FIT.