Fitbit Files for IPO of up to $100 Million
No specific plans for proceeds
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Fitbit has filed for a $100-million initial public offering and will trade on the New York Stock Exchange under the ticker FIT, CNBC reported Thursday.
The price and the number of shares are unknown. According to its filing, Fitbit sold 3.9 million devices in the first quarter of 2015 and 10.9 million in 2014. Within the fitness tracker market, Fitbit faces competition from companies such as Jawbone and Nike.
*This story has been revised from the version first published on May 7, 2015, because it inadvertently used similar language to what was published in CNBC.com. Outside apologizes for the error and is investigating all previous work of the writer.