Thursday, June 18, 2015

Foundry Sees Another Stunning Exit, As Fitbit Prices IPO

Boulder-based venture capital investor Foundry Group has seen another stunning exit, as one of its portfolio companies--Fitbit--hits the market today. Fitbit prices its IPO at $20.00 per share, significantly above the initial $14.00 to $16.00 IPO range for the company, and will start trading this morning on the New York Stock Exchange as FIT. Fitbit, which makes the popular fitness tracking bands, was an early pioneer in the "wearables" market, and had been initially funded by Boulder's Foundry Group. Foundry owned 28.9 percent of Fitbit before the IPO.