The company which was once thought to be a one trick pony keeps mystifying investors and fans alike.
Crowdfunding has changed the game in the technological/ startup business and the concept has ushered in a new era to the business world, allowing great minds to access funds that they normally would never get a chance to and allow them to put their ideas to work in the real world.
Kickstarter, one of the most popular crowdfunding ventures today, and Pebble, a startup that deals with smart watches, have together shown how crowdfunding can raise not thousands, but even millions of dollars when the idea is a great one.
When Pebble began its campaign on Kickstarter, the team led by Erin Migicovsky was only hoping to raise around $500,000 dollars to get them off the ground. Then, their idea got rolling and soon enough, they not only managed to reach their initial target, but even surpassed it, by millions.
Even though the Pebble smart watch was only in the development stage, the concept products of Pebble Time and Pebble Time Steel, with their innovative designs and features, brought in several interested investors and buyers and soon, the Pebble team’s crowdfunding attempt proved to be the most successful one on Kickstarter.
Features like e-paper, a strap holding the battery for the smart watch, a one-week backup time, and waterproof material, all came together to impress an eager buying segment, and the Kickstarter campaign eventually raked in a cool $20,338,986, more than enough to give the Pebble team the kick start it needed!
With 78,741 backers, probably driven by the Apple Watch fever, choosing to fund Pebble’s concept, an inspiring success story was born!