James Park is on a roll. Best known as the co-founder and CEO of Fitbit, his company went public on June 18 — and things couldn’t have gone more smoothly. Fitbit is now worth $9 billion despite facing tough competition.
It seems like nothing can stop the company’s fitness tracking devices. When Fitbit announced that it would go public, the company planned to raise around $350 million by pricing its shares between $14 to $16. But it ended up offering its shares for $20.
If your initial share price is too low, you leave money on the table. If it’s too high, you risk looking at your shares tanking quickly after going public. So was Fitbit too ambitious? Absolutely not. Shares soared more than 50 percent on the day of its IPO, breaking the $30 barrier minutes after starting trading (NYSE:FIT).
And it’s not just a one…
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