Fitbit Said to Plan 2015 Initial Offering Led by Morgan Stanley

Fitbit Inc., a maker of fitness-tracking wristbands, is working with banks on an U.S. initial public offering for 2015, said people familiar with the matter.

The seven-year-old company has tapped Morgan Stanley to lead an IPO after deciding not to raise financing through a private placement, said one of the people, who asked not to be identified because the information is private. An IPO could raise about $150 million, said another person.