Troubled wearables company Jawbone is reportedly closing its doors, with founder and CEO Hosain Rahman having moved on to a new health-focused start-up – which to some degree appears to be a successor.
The news is not surprising: Jawbone has not updated its wearables line for some time, and was believed to have shifted its focus to health. The company had already worked in other markets, including Bluetooth speakers, before moving on.
According to The Information, Rahman is now behind a company called Jawbone Health Hub, with many Jawbone employees having moved across. It is also unclear who the backers of the new company are.
While Jawbone was active in the wearables sector, it had actually been in business for a number of years, and raised a significant amount of cash – but seemingly struggled to find a business that stuck. Its last funding round was early 2016, and subsequent reports suggested it had looked for a buyer.
It has also been embroiled in a long-running legal battle with one-time rival Fitbit.