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Facebook Was Reportedly Looking to Buy FitBit, and Move Into the Wearable Space

Last week hit stories might be one of the biggest tech industry – Google was pending acquisition of FitBit for $2.1 billion. It will enable the search giant to make a big move into the consumer wearables space.

On the other interesting angle, Facebook was also reportedly intend to purchase the wearable provider as well. But it offered significantly lesser than the final agreed price.

Facebook having interested in FitBit signals the social network growing ambitions in hardware, an area the company has invested in an aggressively over the past several years but which has yet to become a material part of its business. Facebook and FitBit both declined to comment.

If Facebook successfully purchase FitBit, it definitely would go down well with The Social Network growing chorus of critics. As Facebook can track more regarding your personal date, every move, your every heartbeat via the wearable device. But such concerns aside, it’s interesting to see Facebook making a move in the wearable space, and considering what that could mean for The Social Network’s future.

As reportedly by The Information, Facebook is already producing hardware with its Portal smart speaker variants and its VR headsets via Oculus. Not only that, Facebook also experimented with different consumer devices which consists of in-store beacons in order to connect with customers but a move into wearables would be a significant shift.

Last but not least, it is not overly surprising either. This is because Facebook did mentioned that it is developing its own AR-enabled glasses which estimated should theoretically be viable by around 2022.

source: SocialMediaToday

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