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History Fitbit

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28 views2 pages

History Fitbit

abc

Uploaded by

linhlinh151906
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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 In 2007 Fitbit was founded by James Park and Eric Friedman

+ who strived to make a workout monitor made from small sensors in


wearable devices.
+ it’s based on innovation, persistence, inspiration, and success that comes as
a result of it all.

But, of course, there were ups and downs, successes and failures, just like in
any other good story you ever read. And, it goes like this.
_________________________________

 It took until about 2009 for Fitbit to actually start making a profit and
selling their goods

+ They’d been flitting around Asia for months, setting up the supply chain
for their company’s first product, the Fitbit Tracker.

+ with nothing more than a circuit board in a balsa wood box, they were now
on the verge of pushing the button to start the assembly line. But with
thousands of orders to fill, they discovered that the antenna on the device
wasn’t working properly.
___________________________________

 From the very beginning, the product has stayed pretty much the same
with few variations and advancements.
 They have kept the same ideals of a wearable tractors that record steps
and activity throughout the day. It has advanced from simple clip ons to
actual wrist products. Within the years of production, Fitbit has had a
few mishaps.

 Getting a start-up company off the ground is challenging. But with so


many changes in the marketing environment, Park and Friedman knew
they had something special.
_____________________________________
Pedometers

 The pedometer was a simple gadget that can be worn around the waist
and calculate the number of steps the individual walk
 They had been selling for years, following personal fitness and
wellness trends. But those devices were low-tech and limited in the
information they provided consumers.

Park and Friedman saw big potential for using sensors in small, wearable
devices.
In just seven years, Fitbit has marketed more than a dozen different products
and sold mil- lions of units.
 Last year alone, the company shipped 21 million devices—almost
double the previous year’s number—ringing up $1.86 billion in
revenues and $116 million in profits.
 Fitbit created what is now a fast-growing segment—wearable tech.

Amid its best year to date, Fitbit went public with an initial public offering of
$4.1 billion.

How did the company go from a balsa wood box to sitting atop an exploding
industry? To hear Park tell it, “It was the right product at the right time at
the right price point.”

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