Apple Watch hasn’t even been out for a month yet but it may have already claimed its first victim in the war for your wrist.
Smartwatch maker Pebble is in big trouble and has applied for a $5 million loan from a Silicon Valley bank to stay afloat, according to a new report that claims the company is having a hard time maintaining growth.
The company has filed for a separate $5 million line of credit, reports TechCrunch, which claims Silicon Valley venture capitalists are spurning the indie watchmaker’s requests for additional capital due to fears the Apple Watch is about to kill it.
Pebble just enjoyed the most successful Kickstarter campaign ever, raising $20 million for its new Pebble Time wristwatch. That might not be enough to keep the company afloat, though, as its roster of employees grows to over 150, with more hiring still taking place.
TechCrunch’s sources say many employees are unhappy with the direction Pebble has taken as it tries to stem competition from Apple Watch and Android Wear watches. The company’s newest watch added new features like a color e-paper display, built-in microphone, higher-quality bands and a new OS.
Preorders for Pebble Time and Pebble Time Steel haven’t started shipping yet, and with rumors surfacing that Apple Watch might be available in stores by June, the wearables startup could be looking at the end of its runway.
Update: Pebble’s community manager Joseph Kristoffer has responded to rumors that Pebble is struggling to raise funding with a tweet pointing to detractors in the comments of TechCrunch’s article claiming all is well at Pebble.
<blockquote class=”twitter-tweet” lang=”en”><p lang=”en” dir=”ltr”><a href=”https://twitter.com/RPGdonts”>@RPGdonts</a> <a href=”https://twitter.com/ericmigi”>@ericmigi</a> No. A rare moment where the comments of a blog post 100% hit the mark. All that needs to be said. <a href=”https://t.co/Bygjud4csD”>pic.twitter.com/Bygjud4csD</a></p>— Joseph Kristoffer (@jisforJoe) <a href=”https://twitter.com/jisforJoe/status/601077786304843776″>May 20, 2015</a></blockquote>
<script async src=”//platform.twitter.com/widgets.js” charset=”utf-8″></script>
Source: TechCrunch
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
61 responses to “As Apple Watch soars, Pebble is dropping like a rock”
I feel bad for them, but thats business. Plus the original pebble looked like ass.
I concur….
Well said, no one wants ass on their wrist!
Though some might want their wrist in some ass ;-) I’ve seen it on the internet.
lol
If that were the case people wouldn’t be buying the Apple watch then, would they?
I’ve got the Moto 360 and just received the Apple Watch, I can tell you with certainty that the Apple Watch is better than the 360. I can’t comment on the pebble as I’ve never owned one. There are so many apps for the watch already no wonder sold so many. Developers are hot into development.
Don’t “feel bad for them” they are doing just fine. This article is full of crap. The only news here is that Pebble no longer has access to venture capital funding, and must get funding from traditional means, via banks.
Both Pebble and Apple Watch will be just fine.
How can you cite the TechCrunch article as a report. It is purely speculative link bait. You guys need to be more responsible about your reporting.
Could it possibly be a case of link bait… citing… other link bait? Monkey see, monkey do? ;)
journalism doesn’t need to fact check their sources anymore?
they may as well be jotting down notes from the crazy homeless man down the street.
I was wondering how long before this was going to happen. I was one of the original Kickstarter funders of the original Pebble, and I loved it. Gave my original Pebble to a friend, and bought a Pebble Steel when it came out. And back in February, I was one of the first people to pre-order the new Pebble Time.
And then the Apple Watch debuted.
I’m excited to be getting my Pebble Time soon, and I’ve stopped myself from ordering the Apple Watch, but I knew from the moment I saw the Apple Watch that this was probably going to be it for Pebble.
I’m hopeful Pebble finds a way to thrive in the market. They’re good folks, they’ve got a great series of products, and they’re such a rare success story in the hardware space.
You have been wondering how long it would be before Pebble lost access to Venture Capital funding and is required to get funding through normal means (like banks)? Cause that’s all that has happened.
Pebble is already thriving in the market. Remember the Kickstarter event? Yeah…and their pre-orders only increased once Apple Watch was announced, so no fears.
Apple Watch and Pebble will both do fine. Apple Watch will of course outsell Pebble (as expected) yet Pebble will continue to grow as a company.
No news here, just a crappy nonsensical click-bait article. May as well be talking about the Kardasians.
wait, is something happening with the Kardasians?
do tell =P
I still love Pebble, and I think a lot of people are still excited about it – it was the most successful kickstarter project ever. This news seems like one person’s speculation being copied from site to site.
I didn’t back the kickstarter, but will buy one as soon as the Time Steel launches.
They should have tried to design it to look less like a 90s keychain pet.
Sorry, I won’t buy the apple until I can replace it for $89, it’s waterproof, and I can read it in full sunlight, the pebble is so cheap I can abuse it and not care and I really don’t need a smart watch like 99% of people anyway.
So first Android wear was going to be the death of Pebble and yet somehow they not only survived they thrived. I do realize a lot of readers of this article are probably Apple fans,and that’s great,but there’s a huge population of Android phone users out there,so even if Apple had won that war (which they haven’t ),there’s still every wrist that’s holding an Android phone to battle for. Since this entire article is a rumour,perhaps you’d like to actually get a direct quote from the company you’re reporting on,before you start spreading rumours. Maybe they did get a five million dollar loan ,but why couldn’t that be used as an investment in stock of the new product (Pebble Time)which was apparently pretty well received. For anyone who wears a watch regularly they are the best smartwatch option available, and the Apple watch hasn’t changed that.
No…the Apple Watch is the best option available for me. I’ve had two Pebble watches (the original and Steel). Both constantly lost their connection to my iPhone. I wouldn’t trade the functionality and reliability of the Apple Watch for the battery life of the Pebble for any price.
Honestly never happened to me over a year (to lose connection) :-)
Unless you are 20mt away from your phone…
I never lose connection unless I get too far for bluetooth to work. maybe you need a new phone.
:-D :-D :-D You can tell how popular smart watches are by how many people respond to these articles.
“As Apple Watch soars, Pebble is dropping like a rock”
It could never have been different. All the other smart watches will fall as well.
You couldn’t be more wrong. Pebble is doing better as a result of the iWatch, and many people jumped ship on the iWatch the moment it’s final specs were announced, to go and back the Pebble Time. They saw a big surge in sales right afterwards.
The iWatch is a technical failure on many, many different levels that Pebble excels in (aftermarket apps, compatibility, water resistance, daylight readability, ease of use, speed/intuitiveness, battery life, and so on).
Your totally incorrect assessment aside, i guess this means you’ll be holding on to both your Pebble, and your Pebble stock. Good luck with those hot potatoes.
By the way, to my knowledge Apple has never released a product called the iWatch. Maybe that’s why you’re confused about the excitement about and early success of the Apple Watch. You must be thinking of another company’s product.
>Good luck with those hot potatoes.
No luck needed. Pebble is working on their 4th model, has now been the most successful kickstarter of all time, twice, is the most popular smartwatch, has the largest library of apps+faces, and has been repeatedly heralded as the best smartwatch period, virtually every time a smartwatch ranking or comparison of current models is done.
>By the way, to my knowledge Apple has never released a product called the iWatch
They’ve never released a product called Apple Watch either. Instead, it’s their stupid glyph which isn’t even available on proper operating systems. I refuse to call it by their incredibly arrogant name, so it will be the iWatch from here until they inevitably kill this product line.
Pebble isn’t a public company, therefore has no stock.
Protonus is actually correct that the entrance of the Apple Watch is only a good thing for Pebble and other smartwatch makers.
Except the fact that Pebble isn’t falling – at all. This article presents no evidence that Pebble is doing poorly. All it says it’s that Pebble no longer has the privilege of venture capital funding, and uses traditional funding instead.
The article makes an unsubstantiated (and absurd) jump to the conclusion that this has any impact whatsoever on Pebble’s long term viability, much less its demise.
In other words, this article is garbage and Pebble is going nowhere but my wrist.
Sounds like you enjoy your Pebble. That’s good. But defending it sounds kinda silly. It’s just a thing. Likely both the Pebble and the Apple Watch will thrive due to their current user-bases. But tech history shows that when people are offered more options and features, they go for them. Guess we’ll see.
>likely both the Pebble and the Apple Watch will thrive due to their current user-bases
You just said exactly the opposite in the comment he’s replying too. Backpedal much?
Since you seem to be a bit dim, let me clarify: If you’re going to consider a Pebble a •competitor• to an Apple Watch, it will fail. As will a Google smart watch, a Swatch smart watch or (god forbid), a Microsoft smart watch. If Pebble remains a fitness gizmo, it will likely be fine. Get it now?
Dude, you seriously still aren’t replying to anything we have said lol. Neither of us are pitting Pebble against Apple Watch, we are just saying this article is full of crap.
Get it now?
Google Smart Watches (Android Wear) aren’t even Apple Watch competitors since both neither watches work with the same smart phone….
Get it now?
Pebble watch isn’t really a competitor for the Apple Watch either, it is at a substantially reduced price point. Pebbles range from $89 to $299. Apple Watch ranges from $349 to $10,000+.
Get it now?
lol
Again, we aren’t saying Pebble wins, Apple loses, we are simply saying that this article (and its author) loses. The rest of us win since we get the smart watch we want…
except it isn’t a fitness gizmo but a very viable competitor to the Apple Watch and will likely do very well. I would expect them to sell about 1/10 the number of of watches as Apple which would be outstanding considering they have a fraction of Apple’s marketing budget.
“…but a very viable competitor to the Apple Watch…”
Nope. Not close. Pebble, at least mine, are clever and do a number of things well. But compared to my Apple Watch, it is now a fitness gizmo. A direct comparison will show this. It was I who said above that Pebble will likely continue to do well —in its category—and I believe that. But unless it does as much or more than an Apple Watch, it is not a competitor in the same class. Hopefully, both products will thrive.
Are you even reading peoples comments before you reply to them?
Yes, I enjoy my Pebble. Yes, I agree both Pebble and Apple Watch will thrive. My point (and Protonus’s) is simply that this article is making absurd, unsubstantiated conclusions based off of rumor. No one is saying “PEBBLE IS BETTER, APPLE WATCH SUCKS!!!”
All that we can take from Tech Crunch’s rumors is that Pebble is maturing as a company and no longer has access to Venture Capital. That is all. This cultofmac article above doesn’t even get that right.
You said, “Likely both the Pebble and the Apple Watch will thrive due to their current user-bases.” This is exactly what I am saying, and the exact opposite of what the article and your former comment of ‘”As Apple Watch soars, Pebble is dropping like a rock”
It could never have been different. All the other smart watches will fall as well.’
So, I guess we agree then now that you’ve changed your tune.
No “tune change” here, except on my Apple Warch. My Pebble (none of the three I own) will do that. Don’t be so f’ing defensive. You don’t agree with Hein? Fine. It’s not the end of the world.
“My Pebble (none of the three I own) will do that.” – Are you saying that Pebble can’t change tracks that your phone is playing? Because it can…with stock apps…or even better with Music Boss, one of its most popular apps.
“No “tune change” here…” – Yes, you went from agreeing with the article that Pebble will fail/fall to saying that “Likely both the Pebble and the Apple Watch will thrive due to their current user-bases.” That is definitely a tune change…
“Don’t be so f’ing defensive.” – I’m less defensive and more annoyed that you are ignoring everything that has been said and are only interacting with some imaginary Pebble fanboy in the corner shouting “PEBBLE ROCKS, APPLE SUCKS.”
Exactly, the loss of venture funding, if anything is a sign of success as the company no longer needs to rely on these more expensive funding roots and can comfortably seek funding through traditional, cheaper sources. Funny how Apple took out a $6.5 Billion dollar load at the beginning of the year. Clearly by TechCrunch logic they are about to fail.
So somehow a “struggling” company who just made $20 million ,managed to convince a bank to risk giving them $10 million,right cause banks are so willing to just give huge loans like that to “struggling” companies. Maybe they should try researching their stories a little better, instead of just putting click-bait out there. This stories is nothing but rumors , false rumors.
To the author of this article, Buster Hein, you ought to be ashamed of yourself. You created this horrible, inflammatory titled clickbait article, with absolutely no substance whatsoever. You based it’s content entirey on yet another, clickbait “article” (that sham of journalism TechCrunch’s “article”) – which had NOTHING, except completely unsubstantiated rumors, unattributed quotes, and straight up factually incorrect information (some of which the author later corrected when he was called out on it.
Then you take it to extreme levels of grasping at straws, by posting literally the oldest photos possible, of the very first Pebble product created, before it was even in production from over 3 years ago, as the image for your “article” – instead of, I don’t know, a picture of their latest product, or even the most current in production?
This is the internet at it’s worst – spreading misinformation and rumors, using unsubstantiated claims, in order to slander another company or individual.
I can only hope that someone takes legal action against you for slander.
Since you’re such a Pebble fan, and obviously don’t like what you read here, you might enjoy visiting and posting to Cult of Pebble. Oh wait, not popular enough for a dedicated blog. Never mind.
>Oh wait, not popular enough for a dedicated blog
This isn’t “cult of apple watch either”, so I have no idea what kind of point you’re trying to make.
Pebble is far more popular than the iWatch.
“so I have no idea what kind of point you’re trying to make”
Most obvious.
He is just trolling against anything that isn’t pro-Apple. That is his point.
Thanks for trying to put words in my mouth, Jon, but you missed my point(s) altogether. And talking out loud between yourselves about another poster? What little kids you are.
By the way, this place is Cult of Mac. By definition, you will find •mostly• pro-Apple news and opinions. “Don’t know how you didn’t see that earlier.” Essentially, that makes •you• a troll.
I never said that having pro-Apple opinions are bad, but you blatantly refuse to even respond to what we post. We repeatedly stated that our issue is with the gross misrepresentation of the articles “facts” and the false conclusions it makes about Pebble, and we repeatedly state that we have no issue with the Apple Watch or its wearers, yet you never interact with what we’ve said.
Jon, it is not mandatory for me to respond to or agree with what you post. Nor is it necessary for you to respond to or agree with me. Since this is not a congressional hearing, “blatant refusal to respond”, as you offensively put it, is everyone’s right. Your lectures are not necessary.
I stand by my first two posts on this issue. Summation: First, if Pebble intends to make a smart watch, or if Pebble or it’s users consider to be competition with the Apple Watch, it will eventually fail. That’s my opinion. Second, if the Pebble continues to be a wearable fitness gizmo, it will probably maintain it’s place in the field of similar gizmos. That’s my opinion as well. Agree or don’t, as it doesn’t matter to me. Everything else you or your new pal Protonus put forth about me is nothing more than word-smithed posturing.
By the way, as an early adopter and user of Pebble (via Kickstarter), and an early adopter and user of the Apple Watch… and knowing as much or more than the average person about these two businesses, I’m guessing my opinions are at least as valid as anyone’s here. I’ll hang on to both products (and my Apple stock), and maybe we’ll talk again in about a year.
Lol, well of course it isn’t mandatory! And of course my lectures aren’t necessary, they are only fitting.
Those opinions of yours were fine and no one was ever contesting those that I know of.
I originally posted what I thought, and that was fine, but then you started trolling so I called you out on it.
It wasn’t the fact that you have different opinions that makes you a troll, its when you reply to each and every thing someone says with completely arbitrary things is what makes you a troll.
Your experience with, knowledge or ownership of Pebble, Apple products, and Apple stock is irrelevant to whether or not you were trolling. When someone makes multiple intelligent statements about how an article is basically slandering a company and you respond with something like “You must be a fan-boy” then that makes you a troll.
Get it?
This has been fun!
I guess if it’s fun dolling out lectures and personal criticisms of posters, then no doubt it’s been a •lot• of fun for you. You and your buddy somehow immediately turned my post and opinion into the subject of not answering •your• issues, so I guess that makes you kinda… self-centered. That must be fun, too. But then, fun is what it’s all about.
Whether Buster Hein and Cult of Mac are right or wrong, whether you think Pebble and Apple Watch is this or that, neither make any difference to me. •I• feel Pebble will not last long if positioned as a smart watch in Apple’s category. Your points are not my points. Can’t express it plainer.
lol its been entertaining to see how you respond.
My intent was originally to call out a BS article. Then to call out your BS responses (not the ones in which you gave your opinion about either watch, the other dozen trolling comments of yours).
There is no question as to whether or not the article is right or wrong. They claimed that Pebble is failing as a company (despite a mountain of evidence to the contrary) based on the fact that it took out a loan like most every other company does (including Apple). That is absurd. You defended the article’s baseless claims, went back on it, then started calling people fan-boys and/or telling people they need Apple Watches (trolling). Then you got hurt when I called you a troll. Then you went on this weird rant about how we don’t agree and you are fine with it. Now I’m am making a silly summation of all that has happened thus far.
“Can’t express it plainer.”
1. You are easily entertained.
2. Sorry, but I never used the term fan boy. Must be thinking about you or your friend.
3. I don’t care what your intent was.
4. There most certainly •is• a question as to whether the article is right or wrong. My opinion is that it has validity. Yours is the contrary.
5. You and your defensive, self-righteous buddy lobbed the first volleys, not to the thread, but at me. Therefore, as one who “sows discord on the Internet by starting arguments”, you are the troll, not me. Q.E.D.
6. You have a nasty habit of making assumptions. I am far from hurt. But it looks good in print, so you write it. Nice.
7. What’s weird (another unnecessary snipe) to one makes perfect sense to another. You seem to want the world to be as you proclaim and decree. Small of you, but your privilege.
8. It was I who made the summation, not you.
9. No, you could not make it any plainer that you are needlessly argumentative and superior. Very plain indeed.
10. Finally, since you love having the last word, please feel free. You’ll be pontificating only to the ether.
lol
Regardless of popularity, Protonus isn’t bashing the Apple Watch and pushing the Pebble Watch, he is simply saying that this article is total crap.
You didn’t interact with anything Protonus said, you just dismissed his valid points assuming he is a Pebble fan-boy. Which is weird, because you can be an Apple Watch fan-boy and still hate when articles like this are based on rumors and don’t even make logical sense based off those rumors.
Yeah, weird.
Ah, you are just trolling then. Don’t know how I didn’t see it earlier.
Ah, so you’re just unnecessarily stirring things up here. As far as being a “troll”—as you accuse—sorry, but I’m here almost every day. And I agree, I don’t know how you don’t see anything. Maybe you need an Apple Watch.
Being here “every day” doesn’t mean you can’t troll people. It actually makes it much easier.
“Maybe you need an Apple Watch” is a perfect example.
You are a troll because you purposefully ignore the content of someone’s post and say something wholly different and arbitrary in order to get a response out of them.
Thanks for the lecture, dad.
No problem, kiddo, thanks for still not responding to any of my points lol.
Seems a bit fishy that this report comes out a few days before Pebble starts shipping their new flagship watch. While I don’t think Apple had anything to do with this directly, I do highly suspect the Apple zealots did. Pebble spurning VC funds and going directly to the bank is actually a very smart move, the last thing they need is a bunch of investors trying to help cook the stew. I doubt they are in any serious trouble, despite the relatively large size of their company their overhead is probably pretty low and they don’t have much risk. Pretty much all of the next 100K watches they will make are already sold. They are offering a niche product in a emerging space – anyone who can speculate that they are either succeeding or failing needs to put away their crystal ball and pointy wizard hat.
Great bit of FUD. Anything to help the mothership, eh?