Fitbit, Inc., in 2017: Can 4 It Revive Its Strategy and Reverse Mounting Losses? a connect ROCHELLE R.BRUNSON Baylor University MARLENE M.REED Baylar Unkersay Fitbit revolutionized the personal faness activity in in the number of devices sold. The company sold only 2009 with the introdaction of its Tracker wearable 2,956 devices in the first quarler of 2017 activay monitor. By 2016 the cempany was a hit in the 4,842 during the first quarter of 2016. Correspond marketplace wisth Fubia devices becoming nearly ubiq ingly, Fitbits revenue declined from $505 million dur silous with fitness enthuciasts and health conscious ing the fiest quarter of 2016 to $299 milscn during the individuals wearing the devices and checking them farst quarter of 2017, The accelerating collupse of F throuphout the day. The companys sales of activaty bits competitive advantape and financial performance moeitors had increased trom 5,000 units n 2009 to cecated a crisis for founders James Park and Eric Fried 21.4 mlion connected heath and Gtness devices by man who were sow faced with peumptly establishing a yeuraal 2015. The compum esmated a uuuall llO new strategic corre Ib save ite nepans. imitial pubic offeting) ia 2015 that boosted liquidit by 541 illion and recoeded revenues of S1.sebillion Backaround on Fitbit by the conclusion of its first year as a public company Fbischef manapers epocted 206 sevenausia e Hibit was foundod ia October 2300 by lames Pk o(S24 billion to $2-5 billion Hoe.on the last (CEOandEri Fricdmas(CTO) The two men started day of Februry 20t0 the price of Fitha al pluned the company after nodi-ing the putontiai foe using sen- incraied by nearls met rn 2016 o 245 aaroundo yort.ae coptidists to aie moono la 2005,
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