In the last several years, Fitbit emerged from a great idea to a mega tech powerhouse. This health and fitness tracker now rivals Apple’s iWatch. What drives this success and purpose? Let’s get inside the mind of Fitbit CEO James Park.
James Park is also Fibit’s co-founder. I saw Park’s interview with CNBC ‘Mad Money’ host Jim Cramer. His mission is for Fitbit to be a digital healthcare company as well as a consumer electronics company. His goal is to get Americans healthier, and use 2010s technology to do so. Not long into the interview, Park stated average health care costs for Fitbit wellness plan users are 25% less. That’s according to a third party study, not by Fitbit. That’s good for employers as well as employees. Park praised his users for helping his cause for health and fitness. Users recommend Fitbit to loved ones. They use Fitbit to compete and challenge one another. Fitbit can also be used to hold others accountable in their fitness goals.
Fitbit doesn’t go without struggle. In 2016, Fitbit stocks fell over 50%. It was poor business guidance that caused the slide. Consumers and insiders often compare Fitbit to Apple’s iWatch. That’s a comparison Park tires of. He insists Apple isn’t Fitbit and Fitbit isn’t Apple.
But Fitbit is overcoming these obstacles. Stocks climbed back 15% since June. Their Fitbit Charge 2 is now the top selling fitness tracker on Amazon. I love it when a CEO has a deeper purpose than just making profit. I know some cynics may say, “He’s just putting on a front. He’s just making himself look sincere.” Maybe that’s true. Maybe Park really is sincere. But Fitbit is something America needs right now. Have you seen our obesity rates recently? Park is fighting the good fight about that, and I applaud him. What do you think of Fitbit and/or it’s CEO?