Google bought Fitbit for 2.1 billion dollars, the transaction being officially announced today by those from Mountain View, the amount itself being an impressive one for a company of this kind. Only last week it was announced that Google is interested in buying the Fitbit company, and now the plan has already been put into practice, and the purchase was officially announced to everyone, being an important one for the wearable market.
Google announced that it will continue to develop WearOS to make it even better, and of course it will be integrated into future Fitbit products to expand their functionality even more. Based on what is known so far, it is very possible that the future wearables made based on this purchase will carry the "Made by Google" branding, which would attract even more customers to them.
Google Bought Fitbit for $2.1 Billion
Google has released a few wearables so far, but unfortunately none of them have been as good as what we've seen from Xiaomi, Fitbit, or the Apple Watch. The Fitbit acquisition is Google's last chance to really compete seriously in the wearable market, which is ultimately great news, because this additional competition will bring us all much better products.
Looking forward to working with @parkjames & the really talented team @fitbit, excited about what we can do together! https://t.co/qkWUnrMKVB
- Rick Osterloh (@rosterloh) November 1, 2019
Google invests 2.1 billion dollars in a company that last year had revenues of 1.51 billion dollars, so if it produces good products, it has chances to recover its money from the profit quite quickly. Google has bought many companies over time, but spent similar amounts in a few times, so we are talking about a very important decision that the Americans are making, and which will definitely have a major impact on the wearable market.
