Despite Popular Kickstarter, Pebble Seeks $5 Million Loan 'To Stay Afloat'
Popular smartwatch maker Pebble appears to be in some financial trouble, according to a few sources "close to the company," as reported by TechCrunch. The company is having trouble maintaining its growth, turning to a bank in its home base of Silicon Valley for not only a $5 million loan but a $5 million line of credit. According to those same sources, banks in the Valley have been turning down Pebble's financial support requests repeatedly.
The smartwatch company's rocky monetary troubles come a few weeks after a well-publicized Kickstarter campaign, which reached its $500,000 goal in under 20 minutes of going live. The project's final funding amount - which received numerous stretch goals along the way - saw 78,471 backers pledge $20,338,986 for the new slimmer design and color display smartwatch.
The company actually received around $18 million from the Kickstarter campaign, after fees, and currently staffs about 150 people with more being hired in new positions. Despite all of this success, and an infusion of forward momentum thanks directly to Apple's Apple Watch-focused "Spring Forward" event, the logistics of running the company have forced CEO Eric Migicovsky and fellow company heads to seek venture capitalist funding "in order to stay afloat."
TechCrunch's source also noted that numerous employees were unhappy with the company's direction "as it turns to face competitors from Apple, Android, and outside." This is perhaps alluding to the company's nonchalant attitude towards poking fun at Apple on its own website and Migicovsky's somewhat apathetic responses to Apple's impending entrance into the smartwatch market.
With Pebble facing such troubles just a few weeks after the Apple Watch launch, two events that may yet still be unrelated, it'll be interesting to see how Apple's competitors in the smartwatch market maneuver themselves to stay successful in an ever-growing and crowded field. Still, some employees are happy with Pebble and see a good future for the still-fairly-young company. “We’re a young company. The outlook for Pebble is very positive,” said a current employee who preferred to remain anonymous when speaking with TechCrunch. “It’s been a remarkable journey thus far.”
Popular Stories
Despite being more than two years old, Apple's AirPods Pro 2 still dominate the premium wireless‑earbud space, thanks to a potent mix of top‑tier audio, class‑leading noise cancellation, and Apple's habit of delivering major new features through software updates. With AirPods Pro 3 widely expected to arrive in 2025, prospective buyers now face a familiar dilemma: snap up the proven...
Apple plans to release an all-new super thin iPhone this year, debuting it alongside the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max. We've seen pictures of dummy models, cases, and renders with the design, but Lewis Hilsenteger of Unbox Therapy today showed off newer dummy models that give us a better idea of just how thin the "iPhone 17 Air" will be.
The iPhone 17 Air is expected to be ...
If you missed the video showing dummy models of Apple's all-new super thin iPhone 17 Air that's expected later this year, Sonny Dickson this morning shared some further images of the device in close alignment with the other dummy models in the iPhone 17 lineup, indicating just how thin it is likely to be in comparison.
The iPhone 17 Air is expected to be around 5.5mm thick – with a thicker ...
A developer has demonstrated Windows 11 ARM running on an M2 iPad Air using emulation, which has become much easier since the EU's Digital Markets Act (DMA) regulations came into effect.
As spotted by Windows Latest, NTDev shared an instance of the emulation on social media and posted a video on YouTube (embedded below) demonstrating it in action. The achievement relies on new EU regulatory...
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models as of April 2025:
Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models simultaneously, which is why we often get rumored features months ahead of launch. The iPhone 17 series is no different, and we already have a good idea of what to expect from Apple's 2025 smartphone lineup.
If you skipped the iPhone...
Apple seeded the third beta of iOS 18.5 to developers today, and so far the software update includes only a few minor changes.
The changes are in the Mail and Settings apps.
In the Mail app, you can now easily turn off contact photos directly within the app, by tapping on the circle with three dots in the top-right corner.
In the Settings app, AppleCare+ coverage information is more...
While the so-called "iPhone 17 Air" is not expected to launch until September, there are already plenty of rumors about the ultra-thin device.
Overall, the iPhone 17 Air sounds like a mixed bag. While the device is expected to have an impressively thin and light design, rumors indicate it will have some compromises compared to iPhone 17 Pro models, including only a single rear camera, a...
