I got my first Fitbit nearly a decade ago. Back then, you could argue that Fitbit was a proprietary eponym — a brand name that inadvertently became synonymous with similar products due to its success or popularity. This couldn’t be further from the case in 2024. The company’s decline started well before Google’s acquisition three years ago, but stalwart Fitbit fans will argue that Mountain View’s influence is the reason for its continued downfall. I’d argue that it’s a little more complicated than that.
When Fitbit was founded in the late 2000s, it was one of a few companies that seriously considered the fitness tracker space a budding technology segment. Initial products weren’t feature-packed, but the brand built a loyal following by introducing heart rate tracking technology at a time when few other consumer products did. Following its growing success, Fitbit listed publicly in 2015, making it one of the year’s hottest IPOs. However, that initial searing heat would dissipate rapidly in the coming years due to low sales, encroaching competition from Apple and others, and a series of troubled launches.