FitBit’s IPO today represented a huge win for its venture capital investors including True Ventures (22.9% pre-IPO stake), which notched its first portfolio IPO ever, Foundry Group (28.9%), SoftBank Capital (5.6%), Felicis Ventures (less than 5%) and others. How huge?
According to CB Insights data, FitBit‘s IPO ranked as the top venture-backed wearable exit at its offering price valuation. At $4.1B, FitBit’s IPO was 32% larger than GoPro‘s. GoPro was backed by US Venture Partners, Walden International and Steamboat Ventures.
As the chart below highlights, FitBit also tops four other recent exits in the wearable-tech space including Facebook’s $2B acquisition of virtual-reality product Oculus VR, which benefited backers Spark Capital, Matrix Partners, Formation 8, and Andreessen Horowitz. Here is the full list of top exits in the wearable-tech space by valuation over the last five years:
For more data on the wearables space, check out the CB Insights Venture Capital Database. Sign up free below.
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
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