Pebble watch

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The Pebble E-Paper Watch is an upcoming smartwatch from Pebble Technology. Despite initially failing to attract traditional investors, in April 2012 the Pebble became the most highly funded Kickstarter project to date.



Initial fundraising

The Pebble E-Paper Watch was designed based on a concept from Eric Migicovsky, of a watch that can display messages from a smartphone. Migicovsky successfully took his idea through the Y Combinator business incubator program. Unusually for a startup at Y Combinator, Migicovsky's business actually generated revenue during the program. Migicovsky was able to raise $375,000 (USD) from investors such as Tim Draper of Draper Fisher Jurvetson, but was unable to raise more. About the inability to raise further funds, Migicovsky told the Los Angeles Times "I wasn't extremely surprised... Hardware is much harder to raise money for. We were hoping we could convince some people to our vision, but it didn't work out."

Kickstarter campaign

Migicovsky's company Pebble Technology launched a Kickstarter campaign on April 11, 2012, with an initial fundraising target of $100,000. Backers spending $115 would receive a Pebble when they became available ($99 for the first 200), effectively pre-ordering the $150 Pebble at a discounted price. Within two hours of going live, the project had met the $100,000 goal. Within six days, the project had become the most funded project in the history of Kickstarter, raising over $4.7M with 30 days left of the campaign.

On May 13, 2012, Pebble Technology announced they had sold out of their inventory. As of May 14, 2012, they had raised $10.18M with 4 days left.



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