Last week, Fitbit filed an IPO, revealing its intentions to go public. This is just one of many successful marketing strategies Fitbit has used to expand its’ growth.
Fit Bit’s sales have doubled every year for the last three years. Out of the $745 million in revenue it received last year, $132 million of that was profit. There is a $200 billion market for health and fitness products, something Fitbit, which specializes in wearables for fitness health, wants to tap.
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Fitbit also wants to work with employers who offer “fitness challenges” and other health programs that are typically offered through the company’s health and/or life insurance.