had almost two years early Apple with the announcement of the first smartwatch in 2012, after which came another six models. But now the story of the small Californian company seems to come to an end. According to sources of The Information, Fitbit is close to the acquisition of Pebble to a figure between 34 and 40 million dollars. CEO Eric Migicovsky had previously refused offers greater magnitude.
The first smartwatch Pebble arrived on the market in early 2013. Production was started after one of the most famous campaigns in the history of Kickstarter crowdfunding. The milestone of $ 100 000 was in fact achieved in less than two hours. At the end of the fundraiser, the sum surpassed $ 10 million . The Pebble Time has achieved tremendous success with over $ 20 million received in 2015. The third and final campaign of crowdfunding was organized in May 2016 for the new Pebble 2 and Pebble Time 2 .
The more than 40 million dollars collected have not yet had the benefit of Pebble accounts. At the beginning of the year they were laid off 40 employees (25% of the workforce), and today the company has debts of almost $ 30 million. In addition, several executives have left Pebble. In 2015 it had reached a bid of $ 740 million from Citizen, while last year Intel had offered 70 million dollars. The CEO refused and now the company’s value does not exceed $ 40 million.
Fitbit put his hands on technology and intellectual property, including the operating system. The new owner would have already decided to stop production of the Pebble smartwatch. The fairy tale is over.