Jawbone is toast

I would never have expected this...

Once innovative wearable brand Jawbone goes into liquidation

Jawbone has announced it's shutting down and liquidating its assets. The 18-year-old technology company, best known in recent years for its work in the wearables market, was once worth $3 billion. It's one of the biggest tech firms ever to collapse.

The decision is expected to lead to losses for the investors who have ploughed millions of dollars into Jawbone over the past few years. The Financial Times said that several of Silicon Valley's most respected venture capitalists will be impacted by the fallout of the shutdown.

Jawbone was founded as Aliph in 1999, gaining a name for itself in Bluetooth accessories and wireless speakers. Under the Jawbone brand, the company was an early participant in the wearables market. Its UP wristbands have seen success but have also faced stiff competition, primarily from Fitbit.

At its height in 2015, Jawbone was valued at $3.3 billion.

(Digital Journal)

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