FitBit is a pioneer in wearable technology. But the company has recently shifted its strategy amid competition from the Apple Watch, and as the wearable market has failed to really see mass adoption. Cheddar's Hope King and Brad Smith explore the company's performance using E*Trade's innovative platform.
Adult wearable technology users in the U.S. is expected to grow nearly 12 percent this year, according to eMarketer. In a survey conducted by Cheddar, 18 percent said they own a FitBit compared to 27 percent who've said they own an Apple Watch. 47 percent of those surveyed by Cheddar say they don't wear any wearable technology.
FitBit has had an up and down year, with shares ranging between $5 and $7 a share. Overall, shares are down 17 percent over the course of the past year. The company did introduce its first smartwatch in 2017, and is looking to directly compete against the Apple Watch at a similar price point. Shares also hit a 52-week high in December during the holiday shopping season.
FitBit reports fourth quarter earnings after the Closing Bell Monday. Analysts expect revenue of nearly $590 Million, and to break even in profit.
Polestar 1, Volvo's newest electric performance brand, has made its way to the U.S. Thomas Ingenlath, the CEO of Polestar, said the car should have the longest "pure electric" range on the market.
The e-scooter boom has led to two fatalities ー both on Lime products ー the first documented deaths since scooters charged into the public square earlier this year. Emily Warren, senior director of policy and public affairs at Lime, said in order for e-scooters to become integrated into everyday transportation, there needs to be infrastructure put in place to keep scooter riders safe.
In an exclusive interview with Cheddar as part of the debut of Cheddar Rides, MTA Managing Director Ronnie Hakim outlined the plan to keep the 225,000 people who commute between North Brooklyn and Manhattan via the L train moving.
Shares of SVMK, otherwise known as SurveyMonkey, opened at $18.75, well above the original IPO price of $12.
SVMK, the parent of the online polling company SurveyMonkey ($SVMK), will begin trading as a public company Wednesday, looking to ride the wave of strong tech IPOs from the likes of Eventbrite, Farfetch, and Sonos.
Fintech firms' grand promise had been to unbundle services like checking, savings, lending, and wealth management. But as the big banks adapted to the ever-changing market, start-ups like Simple are now rebundling again. CEO Dickson Chu confirmed to Cheddar that the company, which was acquired by BBVA Compass in 2014, began offering personal loans up to $40,000 through a partnership with online lending company Prosper.
Adolphus Busch V is coming off the launch of ABV Cannabis, a marijuana start-up that operates in Colorado and sells disposable vape pens filled with cannabis oil. Next, Busch says he is looking to bring pre-rolled joints to market. He plans to brand the company as a healthy alternative to the product that made his family unimaginably wealthy.
Nearly all of cyclists who die in accidents weren't wearing helmets. Park & Diamond wants to change that. The start-up, which won the Red Bull Launchpad, is building a bike helmet that looks and feels like a regular baseball cap. Co-founders David Hall and Jordan Klein said the helmet is collapsible and light and made of a composite material that makes it as safe as a normal helmet.
Kimbal Musk, Tesla board member and brother of CEO Elon, told Cheddar, "If you have a Model 3 and you'd like it delivered, we can probably get done for you by the end of the week. If we haven't reached out to you, reach out to us."
Mark Cummins, CEO of Pointy, shares his advice for young entrepreneurs in our 'What Keeps You Going' segment.
