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Is there any mention of how much the deal was worth? Seems like mostly an acquihire, does Coin even have a steady revenue stream?
by jlas 10y ago
Is there any mention of how much the deal was worth?
Seems like mostly an acquihire, does Coin even have a steady revenue stream?
- brlewis 10y agoNothing about how much the deal was worth. Regarding acquihire, "the acquisition accelerates Fitbit’s ability to develop an active NFC payment solution that could be embedded into future Fitbit devices, broadening its smart capabilities. The acquisition excludes smart payment products, such as Coin 2.0." https://investor.fitbit.com/press/press-releases/press-release-details/2016/Fitbit-Inc-Acquires-Wearable-Payments-Assets-From-Financial-Technology-Company-Coin/default.aspx https://investor.fitbit.com/press/press-releases/press-relea...
- valarauca1 10y agoSounds like an acquihire + hardware tech. Coin has a decent NFC lower power transmitter and I'd guess some smart embedded developers. I'm also guess getting NFC transmitter though FCA inspection/compliance isn't cheap nor easy.