In early 2021, reputable platforms like Fierce Healthcare announced Google’s latest move: the acquisition of one of my favorite brands, Fitbit.
Google now owns Fitbit https://t.co/m3FusB9gzB pic.twitter.com/nImgfY8Hhi
— Engadget (@engadget) January 14, 2021
Like many people, this recent development caught me by surprise. I didn’t know what the acquisition meant for people like me who relied on Fitbit fitness trackers. Would I have to switch to using a different gadget? What if my beloved device starts performing sub-optimally? So many questions ran through my mind. But I’ve come to embrace and cherish this development.
If you’d like to know more about Google’s acquisition of Fitbit and what it means to you as a Fitbit user, you’re in the right place. Here’s all I know.
Will Google Discontinue Fitbit Watches in the Future to Focus on Integrating Fitbit Solely into the Pixel Range?
The first time I heard of Google’s acquisition of Fitbit, I wasn’t that happy. Not because Google is a shoddy company; far from it. I was sad because I’d grown attached to the Fitbit brand name, having used Fitbit smartwatches and fitness trackers for a long time.
I expected Google to put Fitbit through the guillotine. After all, Google has its own line of products. But I was wrong. Google’s intention wasn’t to do away with Fitbit. In fact, after the acquisition, Google appointed James Park, a Fitbit co-founder, to head the company’s wearables division. Additionally, according to Park, Fitbit won’t be discontinued. Park says we should expect more Fitbit gadgets in the future.
Will Fitbit Stock Convert to Google?
Do you own Fitbit stock? If yes, wondering what will happen to your investments after Google’s acquisition is only right. That is because things can go either way. If the new company outperforms itself, your investment will accrue juicy returns. On the contrary, prices can plummet if the buyout deal is less than ideal or integration becomes an issue.
But Fitbit investors don’t have to worry about dipping shares. Immediately after the planned acquisition was announced, the value of Fitbit shares spiked by 16%, which is a sizable increase. Most importantly, officials announced that, since Google agreed to pay in cash, Fitbit stock wouldn’t be converted to Alphabet (Google) stock.
When did Google Buy Fitbit and at How Much?
Google announced its plans to acquire Fitbit in 2019. However, the company finalized the acquisition process in 2021, having bought Fitbit for a whopping $2.1 billion.
I think Google agreed to part with all that money because it wants to dominate the wearables market. And it can’t do that while facing stiff competition from giants like Samsung and Apple as well as Fitbit, which had millions of users even before the buyout. By paying so handsomely for Fitbit, Google gained a significant foothold in the health and fitness industry.
Changes Google has Implemented on Fitbit
Despite Google deciding to keep putting out Fitbit devices without changing the name we are all used to, it’s implemented a handful of changes. The most significant change I know of is signing in with a Google account will soon be mandatory for all Fitbit users.
In the past, using Fitbit was relatively easy. After buying my new fitness tracker, I just had to download the Fitbit app and open an account. When that was done, logging in was easy. That said, Google has made slight changes to the process.
Google has confirmed that Fitbit accounts will become obsolete some time in 2025. When the time comes, Fitbit users will need verified Google accounts to activate newly released gadgets or sign up for Fitbit. But before then, the company is gradually sending prompts to Fitbit users and encouraging them to start migrating as early as possible.
How to Transfer or Move Accounts from Fitbit to Google
I’ve already migrated to Google and am now better positioned to protect sensitive information with Google’s industry-leading security and privacy. If you’d like to do them, follow these steps:
- Step 1: Log into your Fitbit app and Update it
- Step 2: Open the “Today” tab and tap the icon on the Today tab’s upper left corner. Select “Manage your account.” Now, tap “Move account”
- Step 3: Follow the prompts and click “Get Started”
Read Also: How to Transfer Fitness Data from Fitbit to Galaxy Watch
Final Thoughts
Google now owns one of my favorite brands, Fitbit. Although, as humans, we are hardwired to resist change, I can’t help but feel giddy about this development. Why? For starters, Google has the resources to take Fitbit gadgets to a new level. Moreover, I know that, with the incorporation of Google accounts, the data my Fitbit device collects will be safer from malicious actors.
