I agree with your math of $1b + exit. I don't think that's unreasonable. They are probably the current leader in terms of brand/mindshare. Nike's success is so/so on electronic devices so they're formidable but not overly scary. And the market is HUGE when you think of the $$'s being spent to fight obesity in healthcare and stay in shape in fitness. Lastly, anytime you can have this type of intimate relationship with the consumer ("I agree to wear you around and share a lot of personal data with you") the upside is pretty exciting.
