Pebble Time Hits $20 Million on Kickstarter
Right now, Pebble co-founder Eric Migicovsky must be pretty happy that he decided to launch his company's new smartwatch on Kickstarter. The Palo Alto, Calif.-based company's crowdfunding campaign hit $20 million with 25 hours to go before it draws to a close.
Pebble Time is, by far, the most funded project in Kickstarter's history. Coming in at a distant yet commendable second is The Coolest Cooler, having raised nearly $13.3 million.
Of course, Pebble also technically ranks third on Kickstarter's most-funded list. Its first Pebble smartwatch raised more than $10.2 million back in 2012.
Interesting note: While Pebble Time raised nearly twice as much as the original Pebble, it did so with more than 77,300 backers (and counting at this point). The original Pebble had 68,929 backers.
Pebble Time also became Kickstarter's fastest-funded project. It reached the $1 million mark in just 49 minutes when the project launched late last month. It then hit $4 million in less than three hours after going live.
“We cannot thank the Pebble community enough for their monumental support of Pebble Time and Pebble Time Steel," Migicovsky said in a statement sent to Entrepreneur. "We continue to listen to and be inspired by the backers who believed in us and supported our vision from day one. Can't wait to get it onto your wrist!”"
The Pebble Time smartwatch differs from the original Pebble, as well as the Pebble Steel, in a number of ways. First, it includes a color e-paper display (instead of just black and white). It also has a microphone and is about 20 percent slimmer than the original Pebble. Additionally, it will also run on an updated Pebble operating system called Timeline. Pebble also unveiled new Pebble Time Steel designs.
The Pebble Time will retail later this year for $199. Pebble Time Steel will go for $299.