HomeNewsJawbone is shutting down as it goes into liquidation

Jawbone is shutting down as it goes into liquidation

Jawbone, the once popular Bluetooth speaker, and fitness tracking company, has exited the business as its co-founder and CEO Hosain Rahman moves onto a new project. The move was first noted in a report by The Information.

The company once valued at $3 billion, has begun liquidation proceedings, says the report. Rahman has reportedly found a new company called Jawbone Health Hub that will make health-related hardware and software services.

Jawbone has had a volatile ride in its 18 years of existence, raising hundreds of millions from Silicon Valley’s biggest firms, including Andreessen Horowitz, BlackRock, Khosla Ventures, Sequoia Capital, Kleiner Perkins, and Silver Lake Partners. The company which had a valuation of $3 billion by early 2015, struggled to ship products on time and was outflanked by rivals like Fitbit. It was further weakened as sales of the once-hot wrist-worn fitness trackers softened. Investors in Jawbone could lose millions as a result of the liquidation.

Existing Jawbone products like the Up fitness trackers are listed on the company website, but without links to purchase. Amazon mostly has used editions for sale, and Best Buy features one older Jambox boombox for $129.

In short, Jawbone Health Hub is a new company with a new, unrelated investor. Some employees have reportedly begun transitioning over to the new team. The company also has posted multiple job listings as Jawbone Health, seeking hardware and software developers and confirming the shift in strategy from the consumer to the clinical. According to its own description:

Jawbone Health is at the forefront of revolutionizing primary care for millions of patients worldwide. Combining more than 20 years of proprietary wearable technology with clinically relevant signals, Jawbone Health connects patients and physicians like never before with continuous, data-driven dialogue. This unique position of daily directed guidance stands to redefine primary care, while helping people live happier, healthier and longer.

 

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