When Pebble launched its new Time smartwatch on Kickstarter, it surpassed all expectations by reaching its funding goal of $500 000 in 17 minutes. At the close of the campaign, only a month later, the project has raised over $20 million in funding.
World Wide Worx MD Arthur Goldstruck says this achievement says more about crowdfunding than it does about smartwatches. "Pebble has been one of the darlings of crowdfunding since its inception and they have used that status to cleverly build up hype around their brand.
"This is good news for Apple, just as much as Pebble, as it fuels enthusiasm for smartwatches from 'cool' brands; especially among early adopters," says Goldstruck. He adds the watch will not be a mass-market success until it is available in stores.
In 2013, Pebble rocketed into the limelight after raising over $10 million on Kickstarter for its first-generation smartwatch, the Pebble Classic. The Classic used Bluetooth to communicate with Apple or Android devices, featured an e-paper display to prolong battery life, supported a range of custom apps, and included a handful of sensors (gyro, accelerometer, light) for $150.
The new Pebble Time has all the same features but also has colour display, seven-day battery life, a microphone that allows users to send voice notes, a new timeline operating system, and is water-resistant.
According to Goldstruck, the smartwatch's 'old-school' look and feel is part of its charm, and is very appealing to techies and early adopters. However, this could also be its mass-market weakness. "What appeals to them is not always what someone looking for an attractive watch would want."
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