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.
Discord, which offers free voice and text messaging catered to the gaming community, has raised $50 million in new funding at a valuation of $1.65 billion. The latest financing more than doubles its previous valuation from 2017.
The online retailer announced that Best Buy will be the exclusive brick-and-mortar retailer for its new line of smart Fire TVs. It's the latest step in Amazon's push into physical locations and could eventually lead to more exclusive deals with Best Buy, says Michael Simon, Staff Writer for PC World.
CEO Jeff Bezos announced for the first time Wednesday that the e-commerce giant has 100 million paying Prime subscribers.The shareholder letter didn't shed light on whether people are signing up because of the free shipping offer or for original video content, but Michael Simon, Staff Writer for PC World, says it's probably an even split.
Weeks after Spotify's public offering, the music streaming service has already made a crucial acquisition: Loudr, a company that automates royalty payments to music publishers. The deal could help Spotify "take control of this important piece" of its business, says Sun Jen Yung, a partner and the head of digital media at NFluence Partners.
Facebook shares plummeted after the Cambridge Analytica scandal broke, but internet analyst Mark Mahaney, Managing Director at RBC Capital, said this is just a "PR issue, not a fundamental issue," and now is the perfect time to buy into the social media network.
In light of Facebook's data scandal, other tech companies should give users a cut of the money they made off of their information, says Brittany Kaiser, a former director of business development at data company Cambridge Analytica.
Brittany Kaiser, a former executive at the company that gained access to data on millions of Facebook users, said that the estimate of 87 million people affected is far less than the reality.
FAANG stocks (Facebook, Amazon, Apple, Netflix, and Google) are taking over old-school media companies, growing "at a rate that no one thought was possible," says Lorne Brown, the CEO of the ad tech firm Operative. To keep up, traditional media outlets should consider "comingling" with the newcomers, says Brown.
Since customers now have so much at their fingertips, "we need to weed through everything," says Jenny Fleiss, CEO of Code Eight, a personal shopping start-up owned by Walmart. Fleiss was also the co-founder of fashion-tech company Rent the Runway.
Amazon is betting big on AR/VR and its plans do not include any headsets or devices. PCMag's Rob Marvin joins Cheddar to discuss his exclusive look at the upcoming company's development platform, Sumerian.
