Among the more interesting tidbits to be found in Fitbits disappointing new financial filing is the fact that it apparently picked up Pebbles assets for a relative anthem. While the company didnt disclose the actual numbers when the acquisition was announced late last year, reports pegged it at upwards of $40 million.
According to todays filing, the amount Fitbit paid for the smartwatch pioneers assets and intellectual property is actually $23 million just north of the $20.3 million Pebble scored for its 2015 Time Kickstarter campaign.
Also among the revelations is the price the company paid for another recent high-profile acquisition, picking up Vector Watchs talent and IP. The two deals, along with its recent similar acquisition of Coin, point to Fitbits next key step: building a new smartwatch, even as sales numbers in the space have reached a skid of late. Rumor has it the company also tried and failed to acquire Jawbone in between legal squabblings.
We believe we are uniquely positioned to succeed in delivering what consumers are looking for in a smartwatch: stylish, well-designed devices that blend the right general purpose functionality with a focus on health and fitness, CEO James Park said in a statement last month. With the recent acquisition of assets from Pebble, Vector Watch and Coin, we are taking action to position the company for long-term success.
That revelation arrived around fiscal filings issued late last month, along with news that the company would be cutting 110 tasks globally.
According to the new filing, the companys latest products the Charge 2, Alta, Blaze and Flex 2 accounted for 96 percentage of its revenue. Fitbitalso managed to increase active users from 16.9 million to 23.2 year-over-year, even as the wearable industry suffered fromsome major growing pains.