SINGAPORE (Nov 18): Two weeks ago, search giant Google acquired fledgling fitness device maker, Fitbit, for US$2.1 billion ($2.9 billion). In mid2015, Fitbit was listed at a US$4.1 billion valuation, with its stock soaring to US$51.90 within six weeks of its IPO, or a peak valuation of more than US$13 billion. Indeed, until rumours of Google parent Alphabet’s impending deal first surfaced a month ago, Fitbit stock was languishing around US$3.40 a share, or a valuation of US$1 billion.

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