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Jawbone Looks To Pick Up $250M From Rizvi Traverse At $3.3B Valuation

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As the wearable tech space hits a boiling point, Jawbone is pressing onward and upward with a new $250 million investment led by Rizvi Traverse Management on the horizon, according to a report.

The maker of the Up wristband, a fitness tracker that pairs to a user’s smartphone, is looking to secure the nine-digit round at a $3.3 billion valuation.

According to Re/Code, general partner Suhail Rizvi may join the Jawbone board as a part of the deal, which would put him in good company. Jawbone’s board members include Yahoo CEO Marissa Mayer, Ben Horowitz, and superstar designer Yves Behar.

Jawbone’s growth has exploded alongside the ever-booming wearables vertical, but that’s not the only thing the company brings to the table.

Jawbone has been successfully offering Bluetooth products to consumers for years, including adorable little Jambox speaker systems and various Bluetooth headsets.

Thus far, Jawbone has raised more than $275 million in venture capital (not including this deal, which has yet to close), along with $100 million in debt and equity financing.