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Fitbit CEO says there's no mysterious takeover offer

Contrary to an SEC filing from a supposed hedge fund in China, Fitbit's James Park says no one has come calling to buy the fitness tracking company.

Will Fitbit stay or will it go?


No need for your heart rate to rise. Fitbit isn't going away.

CBS Interactive

That was the question earlier Thursday after hedge fund firm ABM Capital said it had approached Fitbit's board about buying the company for $12.50 a share.

ABM revealed that information in an SEC filing that listed an address in Shanghai.

But the filing seems fishy: ABM's website says it's based in Charlotte, North Carolina, and shows a phone numbers that's been disconnected.

CNET asked James Park, Fitbit's chief executive, about the reports while he was onstage Thursday at the Techonomy conference in Half Moon Bay, California.

"It's hard to call back when their phone's disconnected," he joked.

Park said no company -- ABM included -- has made an offer for Fitbit.

The filing caused Fitbit's shares to spike as much as 8 percent Thursday morning.

Fitbit's shares crashed more than 30 percent last week after the company forecast weak holiday sales.

Park told the Techonomy audience he wants employers, insurance companies and hospitals to use Fitbit's fitness-tracker technology.

Who knows? If all goes according to plan, you could end up paying less for health insurance just by wearing a Fitbit -- or something like it.