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As Fitbit stock soars, what’s next for the wearable firm

Fortune

After shares of Fitbit Inc. skyrocketed during its Wall Street debut, the question on most people’s minds was where does the company go from here? According to CEO James Park, despite the company’s stellar initial public offering (IPO), nothing has changed and the tech firm will continue to grow its multimillion dollar research department.

The startup, which sells wearable fitness tracking devices, began trading Thursday morning on the NYSE under “FIT” and opened at $30.40, a 52 percent jump from the company’s initial offering of $20. To date, Fitbit has raised a healthy $732 million and is now valued at $4.1 billion.

It’s easy to view Fitbit simply as a wearable business, but that’s just a buzzword says Park, who see’s the company as something so much more than that. “Fitbit is all about using technology to get people healthier, [and] more active.” What sets the company apart from others…

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