Jawbone liquidates - but will return with clinical focus

by Abel Hampton July 10, 2017, 0:09
Jawbone liquidates - but will return with clinical focus

Jawbone will reportedly be shutting down soon as new details have emerged stating that the company's CEO has already moved onto a new company called Jawbone Health Hub, of which he is the current acting CEO. The company, known for making fitness trackers and Bluetooth speakers, had begun liquidation proceedings after years of financial loss and pressure.

While there are no clear confirmation from Jawbone as of now, The Verge confirms from separate sources that the liquidation news are for real. "This is happening both for fitness trackers but also sports watches and smart watches".

While its demise now may be at hand - the company declined to comment to several CNBC requests - Jawbone innovations live on and may extract future economic value.

The company's last fitness tracker, the UP4, was released in 2015 in partnership with American Express. The company later became Jawbone and its consumer-focused products included much-loved Bluetooth headsets and speakers. Post which it has been failing on various fronts including customer service, inventory management, and senior-level exits.

The Information said Jawbone Health Hub will service existing Jawbone products once the original company folds.

In January of 2017, Jawbone was given a value of $1.5 billion after it was able to raised $165 million during January of 2016.

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