Wearable tech firm Fitbit raises price share, gets valuation of $4.1bn

  • Fitbit has got a valuation of over $4 billion after it sold shares in its IPO.

    The wearable tech firm raised $732 million after it priced its shares at $20 per share.

    Initially, Fitbit had aimed to sell at $14-16 a share, but robust investor demand made it increase the range and size.

    The company, which makes wristbands to track fitness levels, intends to use the money for R&D, and if possible, acquisitions.

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