Jawbone shutting down & liquidating its assets after continued struggles

Jawbone, the company behind once popular fitness trackers, is liquidating its assets and shutting down. The death of Jawbone is the latest in the wearable market thanks in large part to increased competition from Apple.

The company reportedly stopped producing its fitness trackers last year and stopped selling them in September of 2016. Despite shuttering the business, Jawbone believes it is still worth a significant amount of money due to its pending litigation with rival Fitbit, according to the source.

Jawbone founder and CEO Hosain Rahman won’t exit the market entirely, however, instead of launching a new company called Jawbone Health Hub that will focus on clinical medical softer and hardware. Rahman has reportedly already raised money for the new effort, through its unclear how much and at what valuation.

To read full article - https://goo.gl/9WPTj1
Next Post »