Facebook was the mystery bidder for Fitbit against Google reveals report

Facebook offered a final price of $7.30 as opposed to Google's offer of $7.35 per share.


Fitness bands and smartwatch maker Fitbit was recently acquired by Google for a sum of $2.1 billion.

But reports are now claiming that there was another fierce bidder who also wanted to acquire Fitbit. That bidder is none other than Facebook.

According to a report in CNBC, Facebook was the mystery 'Party A' as revealed by the SEC filing. Facebook offered a final price of $7.30 as opposed to Google's offer of $7.35 per share.

Neither Facebook nor Fitbit has commented on the matter.

 Facebook was the mystery bidder for Fitbit against Google reveals report

Fitbit

The report states that Fitbit CEO James Park had dinner with the CEO of 'Party A' on 11 June 2019. Now it's safe to say that that person was Facebook CEO, Mark Zuckerberg. Park and his team members had another dinner with Zuckerberg on 2 July to further discuss the possibility of buying out Fitbit according to the filing. Park met with Zuckerberg again in September and Facebook made a final offer of $7.30 per share in October.

Fitbit has had a successful run with its wearables for fitness tracking through the years. Google can take advantage of the tried and tested hardware with its Wear OS platform to build better smartwatches and fitness trackers in the Android ecosystem. The new fitness trackers could incorporate better integration with smartphones using Google’s Fit apps as well.

Google said that it would be investing more in the Wear OS platform to eventually release Made by Google wearable devices.

Google also assured Fitbit users that all the health and wellness data collected from the upcoming devices won’t be used for Google Ads. Users would be given a choice to review their data and decide whether they want to delete it or not.

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