Fitbit, Inc. (NYSE:FIT) and AliphCom, Inc. (Jawbone) neared its settlement, the two companies reportedly entertained talks around a potential acquisition. However, those discussions broke down, and Jawbone is now scrambling to raise funds to continue operating. The Financial Times reports that talks were preliminary and came to an end when Fitbit suggested a price that “was a tiny fraction of Jawbone’s $1.5 billion valuation” from a year ago, when it raised $165 million in funding. We’ve reached out to both Jawbone and Fitbit for comment and will update if we hear back.