Codebreaker

E-watch startup raises 10 million dollars on Kickstarter (VCs? Who needs ‘em?)

Jeff Horwich May 11, 2012
Codebreaker

E-watch startup raises 10 million dollars on Kickstarter (VCs? Who needs ‘em?)

Jeff Horwich May 11, 2012

Remember how we said earlier this week that the venture capital system was in decline? This is a potent example of how companies can bypass it: the startup Pebble Smartwatch went to Kickstarter a couple weeks ago hoping to raise $100,000. $10.1 million later, they’re cutting off the drive ahead of schedule, so much money having now flowed into their pockets. First priority: get their e-paper, smartphone-connecting watches into production and get them out to their early investors on Kickstarter. Then, the world.

One question, though: Did people really want to invest? Or did they just want a watch?

http://bits.blogs.nytimes.com/2012/05/11/pebble-smartwatch-tops-out-at-10-million-on-kickstarter/

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.