The technologies that bring us closer to the future are the ones worth talking about. And when the story of innovation includes some bumpy roads and rising from the ashes, then it’s clear that we are witnessing an evolution process of the digital healthcare industry. Techsylvania brings you closer to the lessons learned by the grand visionaries of the tech industry. Our heart rate is out of control as we are so excited to announce Eric Friedman, the co-founder of Fitbit, as a speaker on the Techsylvania 2021 stage.
If we were to describe Eric Friedman we would say that he is a full-time “employer of passion”. He’s a problem solver and loves burying himself into projects that can change lives for the better. He believes that Fitbit managed to make technology and health fuse into a wristband that helped change our culture.
Eric Friedman is a graduate of Yale and passionate about solutions meant to innovate the electronics and fitness industries. He initially wanted to become a lawyer, but the interest in computer and software development won his heart when, in 1999, he started his partnership with James Park, working as a founding engineer at Epesi Technologies. Because great ideas pop up almost out of nowhere, the Fitbit idea came to Eric Fredman and James Park when they were “playing” with the Nintendo Wii’s sensors. The plan was to create an affordable and high-tech wearable pedometer. The wristband was to become the leading promoter of a healthy lifestyle by taking to the next level the daily recommended goal of reaching 10,000 steps. With a capital of just $400k raised from friends and family, the duo managed to evolve from a hopeful startup to a tech powerhouse in just a few years.
From a circuit board in a wooden box to Smart Rings
In the beginning, Eric Friedman and James Park started presenting their first Fitbit, a circuit board in a wooden box, to attract investors. After a few months, in 2008, the duo participated in the TechCrunch 50 conference, wherein just one day, they took 2,000 pre-orders. Despite this enthusiastic market validation, Fitbit still had a bumpy journey ahead. It had seven critical moments that the founders succeeded in overcoming.
The Romanian journey
In 2016 and 2017, Fitbit acquired three startups in the field of wearables. One of them was the Romanian startup Vector Watch for which Fitbit paid $15 million. In September 2017, Fitbit launched a research center in Bucharest with 100 employees (the largest of its kind outside the United States, at that moment). Today, this bond is even stronger, while Eric Friedman is constantly working with the local Fitbit team from Bucharest.
Dreams come true
Most entrepreneurs want to accomplish two major things: to be listed on the New York Stock Exchange and to have an exit with Google.
Fitbit is one of those companies that have succeeded to make both of these dreams come true. The company was listed on the stock exchange market in 2015, and in January 2021, Google officially bought it for $2,1 billion.
When it comes to technology, the sky is the limit. Eric Friedman’s ambition is to continue on the innovation path. Middle of this year, the company has dropped a patent for a medical-grade Smart ring that monitors the SpO2 and blood oxygen levels. Another product that the Google-owned Fitbit company will release this year is a Wear OS Smartwatch. The company is currently focusing on developing an ECG and EDA sensor that detects the signs of stress.
And all of this for an easier journey towards better health, because what’s more powerful than making the world a better place?
Speaking of power, there is almost no way to earn it without learning from other people’s entrepreneurial journeys. We are excited to announce that Eric Friedman will speak at Techsylvania 2021 about the lessons learned from starting products and companies. Are you hungry for some smart tech innovation wisdom? If that’s the case, we have great news. Use the code IWantToSeeERICFRIEDMAN when purchasing the Builder Online Ticket, and you will have free access to his speech.
It’s never too late for you to join the high-tech world of changing lives for the better!
