Pebble Watch for Iphone and Android Phones
Huge CrowdFunding Success Story
Name(s) of Inventor/Company: Pebble Technology
Crowd Funding Site Used: Kickstarter.com
Date's Crowdfunding Campaign Ran: April 11, 2012 - May 18, 2012
Original Funding Goal: $100,000.00
Total Amount Raised During Campaign: $10,266,845.00
Number of Backers: 68,929
Summary of Pebble Watch Campaign:
If there was ever a crowdfunding success story that will be studied in great detail, The Pebble Watch Campaign will most likely be at the top of the list. At this time, this still stands as the biggest crowd funding success in terms of the dollars raised and the number of backers. The idea for the Pebble Watch that you can customize and access your favorite apps directly from your smart phone was such a huge success within the Kickstarter community they managed to surpass the million dollar mark in the first full day of the campaign. Is it really possible to raise a million dollars using a crowd funding site? Not only is it, but as the Pebble Technology has proven you can reach this goal extremely Fast IF your idea and your overall campaign is worthy of this type of investment.
Is it possible to become too successful using Crowdfunding to raise money?
With such a massive amount of support from the crowd funding community there also comes major growing pains as the Pebble Watch has learned first hand. trying to keep up with demand and meet their obligations to almost 70,000 backers has been a major challenge to say the least. Even with $10 million in the bank, this task takes time to grow the business to this level.
Pebble Watch Update:
It's been a little over a year when the Pebble Watch made Crowd Funding History and managed to raise in excess of $10 million for the very first time. According to the over 15,000 comment's on their Kickstarter project page, Folks that were original backers are still receiving their Pebble Watches even today. From what I can tell most watches have already been sent out but some people are still waiting over a year later. OUCH!
Grant it they had an overwhelming response for this new invention but making the people who helped finance you wait over a year may be getting a little past due. It's also interesting to note that you can pre-order a Pebble Watch for $150.00 on the website but it gives you no time as when you might expect to receive one. It's obviously a great idea that clearly there is a big demand for, I just hope they don't forget the backers that put them in that position and make them wait much longer.
On a positive note they have had several updates (which may explain the above) and continue to expand what the Pebble Watch is capable of performing. New technology usually does have a few tweaks to work out but at least they have First Movers Advantage over any competition that is sure to come along from the success they are having. Who knows? Maybe a big tech company may come calling and will want to buy The Pebble Watch Technology. In that case, this would become an even more impressive success story and one I would love to do a Update on.
Visit the Pebble Watch Website
Find Pebble Watch on FaceBook (Over 40,000 Likes)
Follow Their Progress on Twitter
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