Fitbit Purchased By Google: Why This Move Makes Sense
The parent company of Google, Alphabet, announced November 1st that they would be acquiring tech/fitness tracker Fitbit. Fitbit has made a name for itself as an activity tracker, wireless-enabled wearable technology device. It is able to measure data such as steps walked, heart rate, quality of sleep, steps climbed, and other personal metrics. With Google’s resources at hand, the deal has the ability to transform the market for fitness trackers, combining it with Google’s advanced tech. With Fitbit building out a health business over the past few months how can this buyout work for both companies?
Why Googles Purchase Makes Sense
Google slowly has been trying to carve a name out in wearable devices. Most recently paying $40 million for smartwatch technology from the watch company Fossil. The purchase of Fitbit, which has grown in name and stature since 2007, is a perfect fit for Google’s main objective. Over the past few years, the implementation of tech companies into health trackers has grown and a new market is open for grabs. Wearable trackers have been given out in health insurance benefits as an incentive to go with certain companies.
Benefits of Fitbit
Fitbits come with many benefits besides just tracking certain health data. One great thing is that you can add friends and family, encouraging one another to meet goals. Fitbit allows you to track your calories by simply scanning the barcode of the food you’re eating. It is an awesome way to track goals whether it be miles, weight loss, muscle gain and more. Being able to track your amount and quality of sleep, helps you plan your night accordingly instead of watching your favorite Netflix show. Best of all you can even track the amount of water you drink, which we can all be doing more!
The $2.1 billion Purchase benefits both sides, giving the tracker major upgrades and google the needed brand recognition. If you’re interested in purchasing a Fitbit, you can compare devices here. You might be able to receive a free tracker from your insurance plan! To find out contact your agent today and find out about your benefits.