Fitbit said to be buying Pebble for around $40 million

By , Nov 30, 2016

Pebble Time Steel image 001

Fitbit is set to acquire troubled smartwatch-maker Pebble, according to a report from The Information. The deal is said to be mainly about the company’s intellectual property and software, and will likely result in the end of Pebble hardware.

In a subsequent report, TechCrunch says a source close to the startup pegged the deal in the neighborhood of $34 to $40 million, and it will just barely cover its debts. In the past, it was rumored Pebble received offers as high as $740 million.

Pebble first burst onto the scene in 2012, with its iPhone-connected smartwatch garnering $10 million on Kickstarter. In fact, many believe it helped jumpstart the wearable craze, but it has since struggled to keep up with the larger tech companies.

This seems to be a trend in the space, as consumer interest in wearables has waned over the last several months. Top-seller Fitbit has even experienced the depression, with shares falling from an all-time high of around $50 last year to under $9 now.

Source: The Information

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  • Frankie Bloise

    i thought Pebble was valued in way more than 40 millions…

    • 5723alex .

      They were valued by Citizen $740M last year. Valued by Intel $70M this year.
      They sold only 100,000 watches last quarter.

  • AbareSaru

    The deal is said to be mainly about the company’s intellectual property and software, and will likely result in the end of Pebble hardware… Damn so close to the end of the kick starter campaign too. Wonder if we will still see our time2 pieces arrive?

  • Jamessmooth

    Has anyone had good experience with Fitbit? I know like 4 people that had watches break within the first year.

  • Abhijeet Gupta

    Dont do it pebble

    • redrum

      I agree, this feels like MS buying Nokia.

  • My Fitbit lasted voor about 7 months, then the watchband came loose.
    Returned it and got a full refund.
    a Happy user of series 2  Watch now.
    Thank you Fitbit. Good luck Pebble!