Jawbone Inc. is liquidating, though its chief executive officer is starting again with a company that moves out of the fitness-tracker business in favor of health-related products, an area that deeper-pocketed rivals also are entering.
Founded in 1999, Jawbone was once a darling of Silicon Valley and regarded as a pioneer in wearable technology. Yet the company missed payments, had manufacturing issues that led to refunds for its fitness device and cut employees, despite raising multiple rounds of funds over a span of more than a decade. The closely held company also struggled against bigger competition that moved into the wearables market.
Now Jawbone is going out of business and investors, including BlackRock Inc. and the K…
Read the full article at: https://www.bloomberg.com/news/articles/2017-07-10/jawbone-liquidation-inflicts-losses-prompts-ceo-move-to-health
