Pebble lays off one quarter of its staff, says it’s still in for the ‘long haul’

Ian Hardy

March 23, 2016 2:28pm

Pebble is laying off 25 percent of its total staff this week (about 40 employees).

CEO Eric Migicovsky confirmed the news to Tech Insider. The company has since issued a statement, “We have a vision where wearables will take us in five to 10 years, and this is setting us up for success.”

Pebble was the first company to successfully raise $10 million on Kickstarter when it launched its first crowdfunding project in 2012. The company initially hoped to raise $100,000, but the cross-platform promise of its watch instantly hit a chord with early adopters. Eventually, the company raised $10,266,845 from nearly 70,000 backers. Pebble came back to Kickstarter with the Pebble Time, which set another record with $20,338,986 raised by 78,471 backers.

We’ve contacted the company to find out if its Waterloo office has been affected by the layoffs.

Migicovsky also confirmed that Pebble has raised an additional $26 million in the last eight months. However, “we’ve definitely been careful this year as we plan our products. “We got this money, but money [among VCs in Silicon Valley] is pretty tight these days,” Migicovsky said.

Source Tech Insider 
  • vn33

    Never good news to read about people losing jobs.
    I love my Pebble Steel but feel the Time just cannot compete with the Android Wear choices out there.

    • El Capitan Morgan

      Yeah.. it is never a fun news when its all about people losing their jobs. Cruel world we live in.

  • satori3000

    This is sad to me, if I weren’t far sited I’d buy one of these things in a heart beat. My challenge is that I hate having to constantly pull out my glasses to look at this, might as well get my phone out. Pebble is easily the best bang for the buck.

  • Victor Creed

    “We have a vision where wearables will take us in five to 10 years”

    I really don’t see them lasting that long

    • Raj Singh

      They should adopt Android Wear and consider new form factors if they hope to be around in 10 years.

    • Can’t Fix Stupid

      Like many start ups these days in techland…it’s easy for the big boys to sit back and observe and then release their own or integrate it into an existing device. Smart watches, health trackers, music streaming services, messaging apps etc.

  • Jason

    i love my pebble classic, but the battery is starting to not last as long (down to five days from 10 lol) but as i look at a replacement andriod wear just looks so pretty but i cant give up that pebble battery

    • Steven

      This is the issue I have. I like the look of a lot of the other smart watches, but I can not get over having to charge it every day or every other day.

    • OttoVonBismarck

      Really? Does it bother you to charge something every other day? Does it impact or interfere with your life that much? Geesys

    • Steven

      It doesn’t impact it but it is one less charger I need to bring and worry about when I go somewhere over a weekend.

    • OttoVonBismarck

      These are the breaks buddy You can’t really complain because Pebble always lasted at least 5 days and sometimes 6 or 7 but never 10 like some suggest

    • Steven

      That is what I am saying. It lasts me 5+ days on a single charge vs 1-2 days on other watches. It is a convenience factor. Also, I am not complaining about the pebble at all, I love my pebble.

    • OttoVonBismarck

      The battery never lasted 10 and even at 5 what’s your complaint really? Battery life was really the only strong growth point here

  • Matthew David

    True, not a good sign, which is a pity. I love my pebble it is cheap, durable, long lasting and does just about everything I could ask of it really well. I hope they make the long haul but clearly bigger market competition is winning. Much harder to compete with the big wigs when you’re working in hardware. Software companies can really punch above their weight.

  • Will

    Pebble needs to build an Android watch and make some better screens/designs

  • John Mcarty

    Soon enough… there will be only Google / Apple
    automobile makers enjoy while you can cause they will come to you next

  • OttoVonBismarck

    This company is about 12 maybe 18 months away from going títs up or getting bought out My bet is on the former Most useless and fugly smart watches on the market today Bar none

  • thomas nguyen

    They need to come out with something nice and listen to their consumers, not create the same style over and over again. I feel Fitbit will have the same issue in the upcoming year.

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  • Technojo

    Sad news indeed. Proud owner of a pebble time here. I love it, everything about it. Size, battery, water proof, functionnalities, geeky look … No other products can match that. I wear it all the time! Hopefully, they will be there for more then 10 years…

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