A Rolling Stone Gathers Money: Pebble Now at $5 Million Raised from 34,000 People on Kickstarter

This Pebble just keeps on rolling. Built by Waterloo-born startup Allerta, the iOS and Android smartwatch has now raised a staggering $5 million on Kickstarter—by far the most of any Kickstarter campaign ever—with a nearly a month left to raise further funding.

The story gets even better, now that it's been revealed by Bloomberg that venture capitalists turned down investing in Pebble. After raising a modest $375,000 from four angels, Canadian entrepreneur Eric Migicovsky couldn't squeeze a penny out of VCs—even in Silicon Valley.

But who needs them? More than 34,000 people have happily pledged their money to Allerta's Pebble. And by crowdfunding, Allerta doesn't have to give up any equity.

"Everything's a bit crazy," Eric told Michael Oliveria of the Canadian Press recently, "but in a good way." How many more millions can Pebble raise in the next 29 days? And will any Kickstarter campaign ever compare to this smartwatch's stunning, off-the-charts run?

Waterloo, Ontario, Canada

Allerta is a brand new consumer electronics design firm, focused solely on creating cutting edge mobile accessories that mesh perfectly with smartphones and a mobile lifestyle. Allerta recognizes the emerging prominence of smartphones, specifically as an increasingly common, portable gateway to the internet and aims to design useful products that leverage this ‘always-on’ connection. Allerta’s... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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