The Pebble Time Kickstarter Campaign Raised A Record $20.3mn

The month-long crowdfunding campaign for the Pebble Time which ended on Friday shattered two Kickstarter records – becoming the fastest project to raise $1 million and the highest funded campaign on the platform, raising $20.3 million.
Pebble  Time
In total, the company raised $20,336,930 from 78,463 backers. Pebble used Kickstarter campaign to create hype around its Time smartwatch, and used it as a way for them to pre-order the device.
Each watch was sold to early backers for $159, while others got it for $179. Once the Pebble Time hits retail stores, it’ll sell for $199. It was clear from the word go that the campaign was going to be a huge success, with it reaching $1mn in just 49 minutes.
In its first crowdfunding campaign, Pebble raised $10 million from 69,000 backers, where its goal was to reach $100,000. The success of both campaigns show the community’s interest in smartwatches, and comes at a time when Pebble is going head to head with giants like Apple, Google and Samsung.
The Pebble Time campaign on Kickstarter has raised several questions about what the platform really is – a place for bootstrapped projects to raise capital or a place for guys like Pebble to create hype. Either way, it shows that not everyone is putting their money down on the Apple Watch just yet.

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