Fitbit files for $100m IPO

Emma Haslett
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Fitbit said it sold 10.9m devices last year

Fitbit, the company behind the cult fitness traffic device, has filed for a $100m IPO.

The company was vague on the details - it didn't disclose how much it intended to float for, or what its plans are for the proceeds.

But the company's filing did show it sold 10.9m devices last year, with another 3.9m in the first three months of this year. Revenues, meanwhile, rose to $336.8m in the first quarter of the year, with net income of $48m.

The company has capitalised on the recent popularity of fitness trackers. In the UK, Aim-listed Fitbug's shares rocketed 350 per cent in November last year after it announced a deal with Sainsbury's to stock its devices.

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