Fitness tracker maker Jawbone shutting down
Jawbone, which is probably best known for its wearable fitness trackers, was reportedly once valued at as much as $3 billion in the private market. Originally founded in 1999, it has in recent years been struggling with sales and litigation issues.
In early 2015 the company filed a lawsuit against rival Fitbit over alleged hiring of former Jawbone employees who, it claims, took proprietary information to Fitbit with them. Later that year it announced a round of layoffs not long after a market research firm estimated that Jawbone had only 2.8% of the fitness tracker market.
In 2016, after legal rulings appeared to be going against it, the company is reported to have stopped producing its fitness trackers. According to a Business Insider report in September 2016, the company was struggling to pay vendors and keep inventory in stock.
Reports of a possible shutdown have been ongoing, as have complaints about the company’s lack of customer service. At this time the company has not commented on the reports.
Meanwhile, it is reported that Jawbone co-founder and CEO, Hosain Rahman, has founded a new company called Jawbone Health Hub that will offer medical-related hardware and software. Previously, Jawbone had reportedly been in the process of shifting its focus to “clinical-grade” wearable devices.
The wearable fitness tracker market has been tough going for all participants. Last year, Pebble – the maker of the first smartwatch – sold its software, firmware, and patent assets to Fitbit. Fitbit itself – facing competition from the likes of Apple and China’s Xiaomi – has also been struggling, and has recently seen its stock price trading near all-time lows.
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