FitBit's got a lot of things going for it. But could the Apple Watch kill its momentum? Short answer: Maybe.
The company, which produces activity tracking devices, filed for a $100 million IPO on Thursday evening and revealed some pretty impressive numbers in its SEC filing. Sales for the first quarter were up 144 percent year over year, revenue is on track to top $1 billion this year and its paid active users has grown from 600,000 in 2012 to 9.5 million in the first quarter of 2015.
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But keeping that kind of pace could be tricky as smart watches—which have many of the same features as fitness trackers but more functionality in general—become more mainstream.
"The future for dedicated fitness devices is uncertain. There is no doubt that hard core athletes or committed fitness types will continue to buy devices to track activities," said Julie Ask, analyst at Forrester Research. "But if this smartwatch category takes off, it could replace pedometers and devices on the low end (which is in part where FitBit competes). Fitbit also has a smartwatch, but will not be their strength."