Google buys Fitbit for $2.1B, enters crowded wearables field

Fitbit is being acquired by Google’s parent company for about $2.1 billion, wading into the crowded and competitive field of…

Fitbit is being acquired by Google’s parent company for about $2.1 billion, wading into the crowded and competitive field of wearables and fitness technology. Fitbit is a pioneer in wearable technology, but it’s been shredded by that competition. The company’s market capitalization soared to just under $10 billion after becoming a public company in 2015. Its value this week is well below $2 billion.

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