Misfit Wearables was founded in 2011 by Sonny Vu, John Sculley and Sridhar Iyengar. They launched their first product, Shine, in 2012 which utilized sensors to track activity and sleep. Shine was successfully funded through Indiegogo and received positive reviews. Misfit launched their second product, Flash, in 2014 which had similar functionality to Shine but at half the price. Misfit has raised over $63 million in funding and shipped over 1 million devices in 2014. They were recently acquired by Fossil Group for $260 million.

1. Misfit Wearables
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2. History
- Founded in 2011 by Sonny Vu, John Sculley and Sridhar Iyengar.
- Before Misfit, Vu and Iyengar were behind IBGStar (the first FDA approved
medical device for Iphone).
- Early-day invested by ex-Pepsi president and ex-Apple CEO Sculley.
- Headquartered in San Francisco. Engineer offices located in China and Vietnam.

3. Products - Shine (launched 2012)
- Utilize sensor technology, tracking activity and monitor sleep.
- Funded through Indiegogo (goals reached within 10 hours, finished ~ $846k).
- Elegant design, persistent battery life (5-6 months) and waterproof.

4. - Positively received.
- Partnered with Victoria’s Secret, Swarovski.
- Named official tracker for Sochi and World Cup 2014.
- Fully waterproof.
- Partnered with Speedo to utilize swimming tracking.
- Shine 2 will be launched in 2016.

5. Products - Flash (launched 2014)
- Similar to Shine, but made from plastic.
- Half the price.
- Lower water resistant (30m compared to Shines’s 50).
- Mixed reviews.

6. Financial
- Around $63M from 5 funding rounds. (7.6M, 15.2M, 40M from Series A/B/C)
- Revenue undisclosed, but shipped over 1M devices in Q4 2014.
- Huge market for growth (70M devices sold total in 2014 - $7B market).
- Recently acquired by Fossil Groups for $260M.

8. Secret Sauce
- Fashion-oriented.
- Doesn’t greatly compromise activity tracking.
- Price.
- High sustainability, access to cheap HR.
- “We have to get the best talent at the best prices” - Sonny.
- Accessible outside of US market. (⅔ of revenue outside US, mostly China, Russia)
- So far, decent marketing strategy.

9. Competitor
+ Other tracker: Jawbone, Garmin, Mio…
+ Smartwatches: Pebble, Samsung Gear.
+ Young and competitive market.

10. Thoughts
+ Sustainable, steadily generate revenue.
+ Good direction, focus on “wearables”.
+ Depends on its parent company’s partnership and marketing.
- Need to diversify products.
- Need to enhance UX.
- Solid competitors.
Will continue to earn its share in the market!