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From Observer.com
Last week’s announcement that Google would be acquiring fitness tracking company Fitbit left the wearables industry concerned about a potential monopoly. The deal will see Alphabet-owned Google purchase the company at $7.35 per share in cash, thus valuing Fitbit at $2.1 billion.
Just last month, Fitbit CEO James Park defended the 12-year-old company’s decision to launch a $10-a-month subscription service, cementing its future status as a “health company.”
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