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.
Lyft says it has completed 5,000 rides in its autonomous vehicle pilot program in Las Vegas. Taggart Matthiesen, the company's head of product, told Cheddar that customers are starting to acclimate to the idea of a self-driving ride, but it will be a while before safety drivers are unnecessary.
Onavo Protect, a Facebook app that lets users redirect their mobile data through a VPN managed by Facebook servers, was taken off the Apple App Store after Apple said it violated new rules that limit what data developers' collect. Separately, Facebook also said it would warn users of quiz app myPersonality, which allegedly mishandled data of as many as 4 million people.
The entertainment company has raised $4.5 million in new funding. CEO Andy Heyward said the first order of business is launching a new brand called "Rainbow Rangers", which debuts on Nickelodeon in November and is meant to empower young girls.
JPMorgan is bringing its Sapphire brand to banking, a bet that it can change affluent millennial customers' perception of the industry the same way it won them over with its credit cards.
The car-sharing service just that lets drivers rent their vehicles out to strangers just raised $300 million in new financing led by Japan's SoftBank. CEO Sam Zaid tells Cheddar how Getaround stands out in a crowded industry.
Gene Munster of Loup Ventures sees a scenario in which Apple and Tesla's shared love of design might lead to a courtship between the two Silicon Valley titans.
The scope of the issue is still unclear, said Craig Timberg, a technology reporter with the Washington Post. But at least the platforms are being transparent in what they're doing to combat it.
DoorDash just raised $250 million of funding, more than doubling its valuation to $4 billion. CEO Tony Xu told Cheddar why that is justified for a player in such a crowded space.
Video game developers have made the gaming experience more addictive, and it's showing. Sarah Needleman, technology reporter at the Wall Street Journal, explains one factor behind the explosive growth of the gaming industry.
As Venezuela grapples with an economic crisis, the country's President Nicolas Maduro pegged its currency to a newly-launched crypto. But Eduardo Gomez of Bitcoin marketplace PurseIO says the move makes little sense for most Venezuelans.
