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Am starting to believe there might be a real market for devices that strictly report data back to a home brain and nowhere else. Congratulations to Fitbit! But I can't help wonder what new ads will come from my 9 years of weight and activity data. ? https://t.co/nowozp2VKz— Mark DeLoura (@markdeloura) November 1, 2019
Two important details Google not commenting on wrt Fitbit acquisition:— Alexei Oreskovic (@lexnfx) November 1, 2019
1. Will it maintain Fitbit product line + brand (a la nest)?
2. Is Google hiring all Fitbit employees (1,625 as of June 30) with the deal?
Google buying Fitbit for $2.1bn, which is only a slight premium over today’s market cap of $1.8bn - though share price has shot up as rumours of acquisition spread.— Charles Arthur (@charlesarthur) November 1, 2019
More consolidation, happening faster.
Not sure it will make a true Apple Watch rival tho.
Google is promising "Fitbit health and wellness data will not be used for Google ads.”https://t.co/wfVNHemHiC— Geoffrey A. Fowler (@geoffreyfowler) November 1, 2019
I also remember when Google acquired Nest and @tfadell said home data would "not go into the greater Google or any of its other business units.”
Also, the fact that this paragraph about privacy needed to be included in the Fitbit / Google press release speaks volume.— Neil Cybart (@neilcybart) November 1, 2019
Fitbit (and Google) know Fitbit users are not going to be thrilled to discover they are wearing a Google product on their bodies. pic.twitter.com/NW88wwa2p1
The hardware business is very hard. Even if you "make it" and avoid buring all your cash, the best you can hope for is to be gobbled up by a giant. Nest (Google), Ring (Amazon), Eero (Amazon), Beats (Apple) and, now, Fitbit (Google). https://t.co/UYpmBngviw— Daisuke Wakabayashi (@daiwaka) November 1, 2019
reverse termination fee, Google has to pay Fitbit $250 million if it can’t secure antitrust approval — at 12% of deal value that’s high— Edmund Lee (@edmundlee) November 1, 2019
Google can have 20 years of your search history, a microphone and video camera in your house, 24/7 GPS location from your android phone, know when you’re home and when you sleep thanks to Nest, and now, they’ll know when and how you move around. https://t.co/MXGnJRDxCd— Matt Haughey (@mathowie) November 1, 2019
Fitbit 2019 revenue estimates are $1.45B so Google buying for $2.1B is not even 2x revenue.— Ben Bajarin (@BenBajarin) November 1, 2019
When negotiating an acquisition 3x revenue is usually the baseline. This is telling about the state of Fitbit.
It's very impressive that Fitbit managed to get $7.35 per share from Google. Fitbit shares last traded at that level back in January 2017. Google could have easily stuck it to Fitbit at this point but they didn't likely to make Fitbit employees happy and stay on board.— Neil Cybart (@neilcybart) November 1, 2019
Google to acquire Fitbit for $2B. Quantified movement of physical self is no longer the leading edge of wellness intervention, intergenerational context is. Like California’s Surgeon General advocating screening for childhood trauma by ACES score. https://t.co/y9XJUGUhos— Marshall Kirkpatrick (@marshallk) November 1, 2019
With Fitbit, Google can possibly gain a lot more insight into the health data about users. Many trust Fitbit with this data -- it has to be extremely valuable to Google. Of course, the acquisition can also affect that trust, if no lessons are learnt from Nest. https://t.co/6hwU8QOzO3— Amit Gawande (@_am1t) November 1, 2019
Who would have been a good suitor for Fitbit? I'm not sure (don't say Microsoft), but I don't have faith in Google.— Daniel Rubino (@Daniel_Rubino) November 1, 2019
I don't see how mixing Wear OS + Fitbit is going to move the needle for Google vs Apple.
This isn't a strategy shift, it's a Hail Mary.https://t.co/GSVENkUcJZ
Google’s largest acquisitions:— Jon Erlichman (@JonErlichman) November 1, 2019
Motorola Mobility $12.5 billion
Nest Labs $3.2 billion
Doubleclick $3.1 billion
Looker $2.6 billion
Fitbit $2.1 billion
YouTube $1.65 billion
Waze $1.15 billion
HTC Pixel unit $1.1 billion
AdMob $750 million
ITA $700 million
DeepMind $650 million
Google's brazen attempt to acquire FitBit while so much antitrust scrutiny against the company swirls globally is shocking but not surprising.— Luther Lowe (@lutherlowe) November 1, 2019
If I recall correctly, Alphabet acquiring FitBit means that Google now controls hardware that's tied to some people's health insurance coverage?— Anil Dash is… Dark Mode (@anildash) November 1, 2019
“We’re looking forward to working with the incredible talent at Fitbit, and bringing together the best hardware, software and AI, to build wearables to help even more people around the world.”— M. Brandon Lee | THIS IS TECH TODAY (@thisistechtoday) November 1, 2019
Pay attention to the moves ?https://t.co/zsJ6Fl9uf9
Fitbit announced it will be acquired by Google.— Web3 Foundation (@web3foundation) November 1, 2019
Google, who is currently under an anti-trust investigation is promising "Fitbit health and wellness data will not be used for Google ads.” From @rachsieg and @TonyRomm in @washingtonpost.https://t.co/LjBjT0EVzI
No way our #health & other data should be allowed to be controlled by #google. this is all about expanded #surveillance of our most personal info, using #bigdata #AI #digitalmarketing @google will acquire Fitbit in $2.1 billion deal https://t.co/VutrUCd2iZ— Jeffrey Chester (@chesterj1) November 1, 2019
.@washingtonpost @rachsieg and @TonyRomm on #Google's #Fitbit acquisition: Antitrust regulators have been “slow to the game” when it comes to looking at how data plays into fortifying monopoly power, said @Sally_Hubbard. "That's their source of dominance." https://t.co/AsUGlidKvW— Open Markets (@openmarkets) November 1, 2019
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The press release promises “Fitbit health and wellness data will not be used for Google ads.” But that sounds awfully weasely. Spelling out what the data will be used for? Why pay $2.1 billion it you don’t have some scheme up your sleeves? https://t.co/rl9Zizl6OA— Borzou Daragahi ?? (@borzou) November 2, 2019
I envision use of biometric data in the near future to better tailor Google Adds – now also based on the physiological status of the target subjecthttps://t.co/nsSUoNlnk1— Atanas G. Atanasov (@_atanas_) November 2, 2019
CC: @Fabriziobustama @sminaev2015 @HaroldSinnott @medicosergio @Paula_Piccard @iambhutia @erlesen
Google pays $2.1 Billion for FitBit— highlighting the view that cash-rich companies spend cash unwisely, and should do more stock buybacks. Both Google and Fitbit were getting their clocks cleaned by Apple and Samsung and an expensive merger won’t fix that https://t.co/dtEsPCFIbY— Amitabh Chandra (@amitabhchandra2) November 2, 2019
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