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Company Profile Summary. Fitbit, Inc. is a privately-held, venture capital backed consumer products and services company that specializes in fitness tracking products.Fitbit, Inc.'s products allow users to record and view their daily routine online so that consumers can become motivated to be more active.itbit, Inc. Business Model. Privately-held Fitbit, Inc. allows consumers to track their steps & activity, upload that data wirelessly, and view their progress online. Fitbit, Inc.'s 3D motion sensor measures steps, calories burned,â¦ Continue Reading â.
While the company has stated that it sent Fitbit a cease-and-desist letter last year, the official lawsuit was filed on March 29, 2013, around the time of a rumored $30 million funding raise for the company. The lawsuit would drag on nearly two years, but Fitbit finally won. August 2013: Fitbit raises $43 million.