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Boulder's Foundry Group hits it big in Fitbit IPO

Denver Business Journal

Count Boulder venture capital firm Foundry Group as the big winner in today’s IPO of wearable fitness device maker Fitbit Inc.. Foundry Group owns 28.9 percent of the San Francisco-based tech company, the largest single stake. Based on Fitbit’s $30.11 per-share price in mid-day trading Thursday, Foundry’s share of Fitbit as a public company is a few steps shy of $1.6 billion. Fitbit common stock (Nasdaq: FIT) went public at $20, rising more than 50 percent by lunchtime.