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It turns out that Fitbit paid even less than some had suspected to acquire the assets of smartwatch startup Pebble late last year.

The price tag was just $23 million, according to figures disclosed Wednesday as part of Fitbit's quarterly earnings report. Fitbit also spent $15 million on the assets of Vector Watch, another smartwatch company.

While it absorbed some of Pebble's talent and agreed to offer limited software support for existing devices, Fitbit has not committed to future Pebble devices and canceled products that were already in the works.

Also of note: Fitbit sold 6.5 million devices in the fourth quarter of 2016, down from 8.2 million in the last quarter of 2015. The sales drop led to a $125 million loss (excluding items), compared with an 87 million profit in the year-ago quarter.

Fitbit's headcount had swelled to 1,753 employees by year's end, though the company is in the process of cutting about 100 jobs amid sluggish holiday sales.

Go deeper

Caitlin Owens, author of Vitals
3 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.