Fitbit IPO shares opened just the way the company wants you to exercise — constant improvement enhanced by increased awareness. The FIT IPO offered 34.5 million shares at $20 on the NYSE. The price surpassed $30 in early trading as investors came through on a predicted heavy demand for the stock. A 50% increase was in line with expectations.
Fitbit did $745 million in revenues in 2014, stemming both from device sales (nearly 11 million sold) and its mission critical subscription premium service. FIT’s IPO filing said it had more than 6 million paying active users as part of this subscription revenue stream.