How This Reluctant Fitbit Investor Almost Missed A $1.6 Billion Windfall
Tech investor Brad Feld remembers his first call with Fitbit CEO James Park. It was in 2010, during a major snowstorm at his home in the Colorado mountains, and he was too distracted by intermittent power outages to give serious attention to an investment pitch from a fitness tracking startup.
“Pretty much my entire goal during that call was to get off the phone,” Feld recalls. “I wasn’t in any sort of headset or mindset about investing. I was interested in the idea of human-computer interaction, but I hadn’t really processed this notion of what a Fitbit was, or why I would want to instrument myself yet. We were just at the very beginning of that thought process.”
“Pretty much my entire goal during that call was to get off the phone,” Feld recalls. “I wasn’t in any sort of headset or mindset about investing. I was interested in the idea of human-computer interaction, but I hadn’t really processed this notion of what a Fitbit was, or why I would want to instrument myself yet. We were just at the very beginning of that thought process.”