FitBit acquired Pebble for $23 million, less than total it raised from crowd sourcing and investors

Briefing

FitBit acquired Pebble for $23 million, less than total it raised from crowd sourcing and investors

February 28, 2017

Briefing
  • $23 Million Pebble Acquisition – Fitbit acquired Pebble’s technology for $23 million, as revealed by Fitbit’s earnings release
  • Discontinued Pebble – Shut down Pebble, employing 40% of workforce, mostly from software department, laying off rest
  • Low Valuation – Pebble raised more than $23 million throughout its lifetime from Kickstarter campaigns and debt, collecting $26 million just between August 2015 to March 2016
  • New Smartwatch Acquisition – Fitbit recently acquired Vector Watch, another smartwatch company, for $15 million
  • Fitbit’s Own Troubles – Stock declined 73% in 2016

Accelerator
Mobile and Wearable Devices

Sector
Information Technology

Organization
Fitbit Inc., Pebble

Source

Original Publication Date
February 22, 2017

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