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"A source close to the company told TechCrunch that watch maker Citizen was interested in purchasing Pebble for $740 million in 2015. This deal failed and befor
by vortexo 10y ago
"A source close to the company told TechCrunch that watch maker Citizen was interested in purchasing Pebble for $740 million in 2015. This deal failed and before the launch of the Pebble 2 Intel made an offer for $70 million. The CEO, Eric Migicovsky refused both offers. Our source said that Fitbit is now paying between $34 and $40 million for the company and is barely covering their debts."
- mandeepj 10y agowow! from $740 million to $40 m. Kinda similar to what happened to yahoo's valuation
- jaclaz 10y agoTo be fair, also: >Fitbit, too, has experienced its own challenges. The company priced its shares at $50 a go when it listed on the New York Stock Exchange in 2015, but today it is trading at $8.40. That depression is largely down to less-than-impressive financial results. It seems like the values atributed to these companies/assets are random numbers. I can understand that in technology related companies even a strong appreciation (or depreciation) is possible in a short period of time, but there must have been some initial overestimation in these cases.