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Really crazy start. They reached their 500k goal in under 20 minutes. In the last 20 minutes they've raised: $37,142 per minute which translates to $2,228,571 per hour $53,485,725 per day and it's been increasing... I made this little site to track it: https://pebbletimetracker.heroku...
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Sticking to its roots, Pebble goes to kickstarter to fund its latest watch. It released 10 minutes ago and already raised $150k. 😮
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@rrhoover Would be curious to hear why they went back to Kickstarter for this. Wonder if they got some special deal to make this more worthwhile for them :)
@rrhoover @mubashariqbal they must have... zero chance they're paying normal split.
@rrhoover You should fix the typo...Time not TIme.
@rrhoover @mubashariqbal Probably a lot to do with marketing. You get production costs paid for and now this is going to be all over social media and news sites so it essentially becomes free and better marketing than they could get on their own site.
I'm bullish on Pebble. They can capture a reasonable share of a very big market without raising too much more capital from investors so they remain a viable/meaningful company (hence kickstarter). Their product is already better than Samsung's, and it's only an assumption to say it won't be as good or better than Apple's. Even if we assume Apple watch will be "better" or "preferred", Pebble created this category, they have way more user insight than Apple does, and with the new watch they have taken an antithetical position on dimensions where they can be the best, like battery time, hackability, price and utility. The new interface and hardware application port is just really groundbreaking stuff. Developer porn. @rrhoover, if enough people buy Pebbles, the devs will build, so the big question for me is distribution, how many watches can Pebble sell over the next product cycle? Pebble has brand power now... this kickstarter campaign will set the new fundraising record, people want pebbles. There is no question Apple will sell way more units with it's brand and distribution power, but I bet more Andriod users will own Pebbles than iWatches, because they certainly don't own Samsungs. Eric is an A+ entrepreneur with a bad ass team in a massive market and they can continue to grow the company even if Apple takes a big bite out of the market. @jisforjoe hey long time!
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@rrhoover @guygal It's been too long, indeed! We should catch up. A lot has happened since we talked last ;)
@jisforjoe Are you in SF now? And or PA? Would love to catch up
@guygal Re: Pebble vs. Apple - completely different segments of the market. It's like buying a Fossil vs. Tag Heuer. There's room for them both.
@rrhoover @jisforjoe @guygal Interesting to note that the reward levels are all limited, meaning the max amount Pebble can raise (at least before rewards sell out or they add new reward tiers) is $9.55 million. Will be interesting to see what happens when they're sold out -- my *guess* would be that they release new tiers with progressively later delivery dates (since that initial May 2015 delivery estimate is coming up fast).
@eric3000 yes that is my point :)
"In before $1M" is the new "first" on comments. Congrats to Eric and the Pebble team on a thunderous launch. I was lucky enough to back the original, currently wear a Steel, and now I'll have this one to play with. Good luck with production, this thing exploded, $1M in under 35 minutes...insanity.
@yevp Ahh, Yev! Long time no chat—thanks for the support! Hope all is well :)
Hi all! This is Shobeir of Pebble. Let us know if you have any questions. Thanks @rrhoover for sharing!
@shobeir Was there any specific reason why your team went with Kickstarter again, instead of going directly in stores?
@shobeir @gregbarbosa Haven't you seen the buzz yet? 2 million in 1 hour and crowdfunding as marketing campaign. The product is kind of ready and they have funding enough to launch without the Kickstarter campaign!
@shobeir @gregbarbosa Getting our latest and greatest in the hands of our most fervent supporters is a big deal to us. Nurturing and growing the deep connection we have with our community is the only way we want to move forward as we grow and learn in this space.
@shobeir @gregbarbosa @jisforjoe That's a great attitude. However, I would have thought doing that directly on your own site (where you can control all aspects of the experience) would have been better than in the confines of the KickStarter platform.
@shobeir @gregbarbosa We decided that launching Pebble Time on Kickstarter was the most efficient way to get the word out. We're a small company, up against the largest company. We wanted to communicated directly with our core community, the people who use Pebble every single day and our original backers. KS is the right platform on which to do that.
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