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Fitness app maker Cloud Tag to float in £29m Aim listing
(City A.M. (UK) Via Acquire Media NewsEdge) A FITNESS app developer will float on London's junior market this week in an initial public offering valuing it at £29m.
Cloud Tag, which uses a body patch to monitor vital signs such as heart rate and breathing while people do exercise and then sends that data to the smartphone and tablet app, is raising £1.5m in Wednesday's Aim listing.
The app has been partly designed by Matt Roberts, a fitness guru whose clients include David and Samantha Cameron.
Cloud Tag expects its product to go on sale within the next year.
(c) 2013 City A.M.
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