My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Finance / IPO

FitBit Raises IPO Price Range to $19 Per Share

FitBit Raises IPO Price Range to $19 Per Share
Image credit: FitBit | Instagram
1 min read
This story originally appeared on CNBC

FitBit has raised its price range for shares in its initial public offering (IPO) to $17 to $19 per share, the company said Tuesday in a regulatory filing ahead of the company's stock pricing, which takes place on Wednesday, June 17.

At the midpoint of the range, it would value FitBit at roughly $3.7 billion. 

The company said it would offer 22.4 million shares of Class A stock and selling stockholders would offer 12.1 million shares of Class A common stock in the IPO.

The maker of popular fitness bands previously sought to sell shares between $14 to $16 apiece, raising as much as $478 million. FitBit, which is profitable, recorded about $100 million in net income on $745 million in revenue in the most recent calendar year.

3 Lessons for Entrepreneurs From Spotify, Which Won Over Taylor Swift and Just Made its Billion-Dollar IPO