FIT - Critics of Google's Fitbit Acquisition Just Got Some Major Ammo
"We understand this is a big responsibility and we work hard to protect your information, put you in control and give you transparency about your data," Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google said earlier this month when it announced it was planning to acquire wearable tech company Fitbit (NYSE: FIT). "Similar to our other products, with wearables, we will be transparent about the data we collect and why."
"Fitbit will continue to put users in control of their data and will remain transparent about the data it collects and why," Fitbit similarly reassured consumers. "The company never sells personal information, and Fitbit health and wellness data will not be used for Google ads."
Consumers and regulators just got a good reason to be skeptical about those assurances.