Fitbit files for Initial Public Offering of $100 Million

Fitbit is a leading manufacturer of fitness and health tracking gadgets. The company has recently filed for an initial public offering (IPO) with the Securities and Exchange Commission to raise $100 million through stocks.  The lead underwriters for the IPO are Deutsche Bank, Morgan Stanley and Bank of America Merill Lynch.

The fitness tracker wearables market is on the rise thanks to the growing number of fitness enthusiasts across the world. Even big companies are now plunging into this field and introducing new wearables and smartwatches. Latest among them is the Apple Watch.

Fitbit was founded in the year 2007 by James Park and Eric Friedman and specializes in making tracking devices to monitor health and fitness. The devices are colorful and can be clipped or strapped on to the body and can measure steps taken, distance, calories burnt, heart rate, activity levels, sleep etc.  The company also provides companion software which is accessible on more than 120 Android, iOS and Windows smartphones.  There is also an all-in-one app that shows you the stats , analyses them and gives you tips. Users can enter what they have eaten during the whole day and track their calorie intake and other health parameters.

Fitbit devices include Surge super watch, Charge and Charge HR wrist bands and other smaller devices as well as the Aria weighing scale and apparel. The company has sold 10.9 million devices in 2014 registering a rise of 142% over 2013. Most of the sales were through retail channels in the US. This year, Fitbit’s sales were 3.90 million in the first quarter itself.

The company faces huge competition from Apple Watch which offers a whole range of health and fitness services apart from a variety of features like phone calls, text messages, music, photos and GPS.

Fitbit wrote in its filing against the label ‘risk factors’:

“We expect competition in our market to intensify in the future as new and existing competitors introduce new or enhanced products and services that are potentially more competitive than our products and services.”

Fitbit files for Initial Public Offering of $100 Million

Centr: The Best Panoramic Camera Yet

 

“It allows the user to get perspectives that they couldn’t normally get with a GoPro. Now you have the opportunity to create a panoramic selfie.” – Centr CEO Bill Manta

 

 

Still wondering about what’s special with Centr apart from its interesting structure, a UFO-style camera which you hold in the middle? It gives the user a different perspective, a more captivating view of the world. The perfect gadget for people who prefer videos more than photos in preserving a moment. Centr can record 360-degree high-definition video without the trouble of being out of frame or out of focus.

You have everything in the palm of your hands. Never miss a movement or an angle. Capture the whole experience with its four independent HD image sensors, joining together all four frames to give you a panoramic video in real-time. It can last up to two hours for continuous shooting and six hours on standby. Controlled through a smartphone or a tablet, held through its center hole, it can potentially start a breakthrough in filmmaking. It can shoot 1080p video geared up with 8GB flash storage, three microphones, built-in Wi-Fi and Bluetooth capability and a USB 3.0 connector.

The brilliant team behind this innovation works under the name Stealth HD, a group of ex-Apple employees. Suffice it is to say, Centr’s DNA is imparted with Apple’s established manufacturing ethics. Before this venture, Centr going public, the team has already been supplying private panorama video recording solutions for the military, sports organizations and private companies, like National Geographic. And now they are finally giving access to the public to this palm-sized panoramic camera cost-effectively. ($399 at retail, with lower prices during pre-order)

Centr: The Best Panoramic Camera Yet