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FitBit bought just their software assets for under $40 million. In 2015, Citizen offered to buy the whole company for $740 million. FitBit did not acquire the
by cptskippy 10y ago
FitBit bought just their software assets for under $40 million. In 2015, Citizen offered to buy the whole company for $740 million.
FitBit did not acquire their $24 million in debt or any physical asserts. They offered jobs to 40% of the staff.
- FT_intern 10y ago> In 2015, Citizen offered to buy the whole company for $740 million ouch, i can only imagine how the founders feel
- cptskippy 10y agoIt depends on the terms of the offer. He might have thought he was working in his employee's best interests by not taking the offer. Alternatively he could have negotiated support contracts for existing customers and provided stock options to employees then cashed out. But in hindsight he's probably kicking himself.