Fitbit wearable tech company becomes Wall Street sensation June 20, 2015 - 11:39 AMT PanARMENIAN.Net - Shares in the wearable technology company Fitbit have soared nearly 50% on their first day of trading on the New York Stock Exchange, BBC News reports. Initially priced at $20 a share, they closed at $29.68. The company, which makes wristbands that track your calories and footsteps, raised $732m from the share sale. Fitbit plans to use the money raised for research and development and possible acquisitions. Unlike many technology companies to list, the company is already profitable, making $131.8m in net income in 2014 with sales of 10.9 million devices last year.  Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020."   Partner news Most popular in the section |  Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |
