Fitbit has updated its S-1 filing, preparatory to going public, saying it expects to price the nearly 40 million shares it will sell at between $14 and $16. Of the shares going on the market, 22.4 million of them are being sold by the company; the other 7.5 million are being sold by existing shareholders. At the midpoint of the selling price, the IPO will add $336 million to … [Read more...]
Jawbone Sues IPO-Bound Fitbit, Claims “Plundering” of Employees and Info
Just as Fitbit, leader in the fitness band market, is suiting up for its $100 million IPO, rival Jawbone has hit it with a particularly juicy lawsuit, claiming that Fitbit was systematically poaching its employees, who brought confidential information along with them. The complaint, filed in California Superior Court, claims that Fitbit contacted a third of Jawbone's … [Read more...]
Jawbone’s Latest $300M Funding Was Debt, Not Equity: Bloomberg
Jawbone's been having some problems both with product and with press lately, and those difficulties appear to be extending to corporate finance. Bloomberg reports that the company raised $300 million late last month from the private equity firm Blackrock, but that the round was debt, not equity. It makes a difference. The loan is secured by Jawbone's assets: intellectual … [Read more...]
Jawbone Announces UP4, including Amex NFC Payments
Jawbone, which is just now getting its long-delayed UP3 fitness tracker to market, is already talking about the next version, the UP4. The major differenceis apparently the addition of an NFC chip that will link the device to your American Express card and use it for contactless credit card payments. Jawbone says the UP4 will be available this summer, but no pricing was … [Read more...]
Jawbone To Ship UP3 Fitness Tracker April 20, Not As Waterproof As Hoped
Jawbone's UP3 fitness tracker was supposed to ship before the end of 2014. It didn't make it, and its web site had been citing delivery intervals of "6-7 weeks" since then. The company has now announced that initial shipment of back orders will start April 20, with the expectation that all pre-orders will be fulfilled by mid-May. No word about wider retail distribution. The … [Read more...]
Fortune Magazine Takes a Tough Look at Jawbone
Fortune Magazine has a well-reported and cold-eyed look at Jawbone, maker of (among other things) the upcoming UP3 fitness band. It describes the company as a 16-year-old startup that skates from one rapidly commoditized success to another -- Bluetooth headsets, wireless speakers, and now fitness bands. The picture it paints is of an innovative company that hasn't quite figured … [Read more...]
The Ass of a Jawbone: UP3 Misses Christmas
We saw a lot of wearables products promising a holiday delivery. Here's a big one that missed: Jawbone won't ship its $180 Up3 fitness band until after Christmas. Ouch. Bloomberg has a lot of background about Jawbone and its position among venture capitalists (but doesn't mention that Fitbit far outsells it). When the UP3 was announced in November, the company said it would … [Read more...]
Smartwatch Pricing Tier Emerges As Withings Sets $450 Price for Activé Watch
It looks like smartwatches that put a premium on appearance are settling around a pricing neighborhood: $400 to $500. Withings has started taking pre-orders for its Activé watch -- an attractive timepiece that subtly measures your progress to a daily movement goal -- and pegged the price at $450. That's the same neighborhood as the Michael Bastian / HP watch, and in the low … [Read more...]
Jawbone Releases the $50 Move and the $180 UP3
As leaked yesterday, Jawbone today released two new fitness trackers: the Move and the UP3. The $50 Move is a low-end step and sleep tracker very similar to the Misfit: a metal disc that fits into either a clip or an extra-cost strap. Its user interface is a set of small LEDs that come alive when you press the disc. It's powered by a watch battery, and comes in five colors. … [Read more...]
Jawbone to Release New Products: Report
The Information, a pricey paid news site, is reporting that Jawbone is about to release two new fitness trackers: one at the low end of the market, the other at the high end. The Up MOVE is a $50 device that clips to your clothes. The UP3 will cost $185 (the current top-0f-the-line Jawbone tracker sells for $130 -- "is packed with new sensors and has a slick black design." … [Read more...]