The move lines up with a report from TechCrunch earlier this year, however it will mean a loss for many investors that contributed some $900 million to the company, which was previously valued at as much as $3 billion. Once upon a time Jawbone was known for high quality Yves Behar-designed Bluetooth headsets, and it eventually expanded to other products including speakers and fitness trackers.

Last year, the company said "Jawbone remains wholly committed to innovating in and building great wearables products. The company has never been more excited about its pipeline of technology and products and looks forward to sharing them when ready," but it appears that plan has changed. We've contact Jawbone about the report, but have not received a response yet, this post will be updated if we do.